New Information in Form 26AS

New Information in Form 26AS

NEW INFORMATION WHICH WILL BE AVAILABLE IN FORM 26AS

What is Form 26AS?

  • Includes info on tax deducted on your income by deductors
  • Details of tax collected by collectors
  • Advance tax paid by the taxpayer
  • Self-assessment tax payments
  • Regular assessment tax deposited by the taxpayers (PAN holders)
  • Details of refund received by you during the financial year
  • Details of the High-value Transactions in respect of shares, mutual fund etc.

Structure and Parts of Form 26AS?

Part A: Details of Tax Deducted at Source

Part A1: Details of Tax Deducted at Source for Form 15G/Form 15H

Part A2: Details of Tax Deducted at Source on sale of Immovable Property u/s194(IA) (For seller of Property)

Part B: Details of Tax Collected at Source

Part C: Details of Tax Paid (Other than TDS or TCS)

Part D: Details of Paid Refund

Part E: Details of AIR Transaction

Part F: Details of Tax Deducted on sale of immovable property u/s194IA (For Buyer of property)

Part G: TDS Defaults* (processing of defaults)

New information which can be uploaded in Form 26AS:

1. In exercise of powers conferred under section 285BB of the Income-tax Act, 1961 read with sub-rule (2) of Rule 114-I of the Income-tax Rules, 1962,

the Central Board of Direct Taxes (‘Board’), hereby authorizes the Director General of Income-tax (Systems) to upload information relating to following sources,

which is in her/his possession, in the Annual Information Statement in Form 26AS in the electronic filing account registered by the assessee in designated portal,

within three months from the end of the month in which the information is received by her/him:

i. Foreign remittance information reported in Form 15CC

ii. Information in Annexure II of the 24Q TDS Statement of the last quarter

iii. Information in ITR of other taxpayer

iv. Interest on Income Tax Refund

v. Information in Form 61/61A where PAN could be populated

vi. Off Market Transactions Reported by Depository/ Registrar and Transfer Agent (RTA)

vii. Information about dividend of mutual fund reported by Registrar and Transfer Agent RTA)

viii. Information about purchase of mutual fund reported by Registrar and Transfer Agent (RTA)

2. The Director General of Income-Tax (Systems) shall specify the procedures, formats and standards for the purposes of uploading the information referred to in para above in Annual Information Statement in Form 26AS.

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