Apart from TDS-TCS, some changes will be made in the revised Form 26AS. It will be effective from 1 June.
- Property and share transaction information included in the form
- Form 26AS is required before filing income tax return
The Central Board of Direct Taxes (CBDT) has made a change in Form 26AS. Actually, this form contains details of tax deducted at source (TDS) and collection of tax at source (TCS). Now information of property and share transactions has also been included in this form.
CBDT said, “Form 26AS has been given a facelift. Now it includes the details of certain financial transactions, payment of taxes, pending or refund related to demand-refund by a taxpayer in a financial year in addition to the details of TDS-TCS. About to apply. Let us tell you that before filing ITR i.e. income tax return, the first document that needs to be verified is Form 26AS.
What is 26AS form
Actually, 26AS is an annual tax statement form. This form contains information about the tax given by you to the government. If you have got an income tax refund in a financial year, then you can get that detail in this form as well. This means to say that you can know the correct situation about your income and tax with the help of Form 26AS.
With this, information about the source of tax deduction i.e. TDS is also available. If you understand in easy language, while filing income tax return through this form, you can see all your tax details at one place. The new change means that information about your property and share transactions will also be given in this form.
How to download
To download this form, one must first visit the link https://www.incometaxindiaefiling.gov.in/home. After this, you click on the “View Form 26AS (Tax Credit)” tab on the left side of the home page. Here login id and password have to be submitted.
If you are a new user, then you have to be registered. After this you will reach the website of Traces. Here you can download the statement of 26AS form after entering the assessment year. After downloading the Form 26AS, verify it with the relevant document. These include Form-16, TDS Certificate, Form 16A etc. After this you can proceed the process of ITR filing.