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04/06/2020

Changes in Form 26 AS:

Sec 285 BB was amended by the Finance Act 2020. By Income-tax (11th Amendment) Rules 2020 W.E.F. 01.06.2020 Rule 114-I has been inserted and Form 26 AS shall contain following information:

(I) TDS / TCS
(II) Specified Financial Transactions
(iii) payment if taxes
(Iv) demand and refund
(v) pending proceedings
(vi)completed proceedings

specified Financial Transactions are stated in section 285 BA(3).

As a result details of financial transactions shall also be included in Form 26 AS.

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