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Govt notifies revised Form 26AS, to have purchase info of shares, property

Easing taxpayer compliance, the annual information statement has been subsumed in the Form 26AS

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Form 26AS is an annual tax credit statement containing details of various taxes deducted on income

2 min read Last Updated : May 29 2020 | 1:24 AM IST

In line with the Budget provisions, the government on Thursday notified the simplified version of Form 26AS, a single form providing comprehensive information related to specified transactions of an assessee including purchase of shares or property.

Easing taxpayer compliance, the annual information statement has been subsumed in the Form 26AS. The simplified form will comprise details of taxpayers’ mutual fund transactions, pending and completed income tax proceedings, status of income tax demand, besides tax deducted at source and tax collected at source (TCS).

Form 26AS is an annual tax credit statement containing details of various taxes deducted on income.

Rakesh

Topics : Income tax indian government Income tax assessment Income Tax Act property deals

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