CBDT notifies Form-26AS (Annual Information Statement)

26AS

CBDT notifies new Form-26AS “Annual Information Statement” by inserting new Rule 114-I which will be effective from 1st June,2020.

In addition to the TDS/TCS details, revised Form-26AS will now comprise information relating to assessee’s specified financial transaction, payment of taxes, pending/ completed proceedings etc.

In exercising the powers under Section-285BB read with Section-295 of the Income-tax Act, 1961 CBDT has

  • omitted Rule-31AB and
  • inserted Rule-114-I, namely “Annual Information Statement”

According to Rule-114-I(1) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or any person authorised by him shall upload in the registered account of the assessee an annual information statement in Form No.-26AS containing the information which is in his possession within three months from the end of the month in which the information is received by him. Such in Formation is as follows:

 
Sr. No. Nature of Information
1 Information relating to tax deducted or collected at source
2 Information relating to specified financial transaction
3 Information relating to payment of taxes
4 Information relating to demand and refund
5 Information relating to pending proceedings
6 Information relating to completed proceedings

According to Rule-114-I(2) CBDT may also authorise the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or any person authorised by him to upload the information received from any officer, authority or body performing any function under any law or the information received under an agreement referred to in Section-90 or Section-90A of the Income-tax Act,1961 or the information received from any other person to the extent as it may deem fit in the interest of the revenue in the annual information statement referred to in sub-rule (1).

To furnish information received under an agreement referred to in Section-90 or Section-90A CBDT has notified new Form 26AS (Annual Information Statement)

 

Form 26AS

Annual Information Statement

[See rule 114-I ]

Financial Year:

XXXX-XX

AssessmentYear:

XXXX-XX

Part A

 
Permanent Account Number Aadhaar Number
Name
Date of Birth/Incorporation
Mobile No.
Email Address
Address

PART B

 
Sr. No. Nature of Information
1 Information relating to tax deducted or collected at source
2 Information relating to specified financial transaction
3 Information relating to payment of taxes
4 Information relating to demand and refund
5 Information relating to pending proceedings
6 Information relating to completed proceedings
7 Any other information in relation to sub-rule (2) of rule 114-I

Here we are giving copy of Notification No.-302020.pdf

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