Income Tax department improved Form 26AS from this Assessment Year

Funds Instructor19 Jul, 2020Finance

The statement of the ministry said that �earlier Form 26AS used to give information regarding TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) relating to a PAN, besides certain additional information including details of other taxes paid, refunds and TDS defaults. But now, it will have SFTs to help the taxpayers recall all their major financial transactions so that they have a ready reckoner to enable them while filing the Income Tax Return (ITRs).� Form 26AS is an auto-generated financial statement that includes taxation-related information, including details of high-value transactions.