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Income Tax Return: New and improved Form 26AS from this year. Check details

Income Tax Return: New and improved Form 26AS from this year. Check details

The Central Board of Direct Taxes (CBDT) on Saturday informed that from this Assessment Year (2020-20201), taxpayers will see an improved Form 26AS which would carry some additional details on taxpayers' financial transactions as specified Statement of Financial Transactions (SFTs) in various categories.

Central Board of Direct Taxes announces improved Form 26AS: What changes
CBDT said Form 26AS relating to a PAN earlier used to give information regarding tax deducted at source and tax collected at source besides certain additional information including details of other taxes paid, refunds and TDS defaults.
Now it will have Statement of Financial Transactions (SFTs) to help the taxpayers remind all her/his major financial transactions so that s/he has a ready reckoner to enable her/him while filing the ITR.

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