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What taxpayers will now see in Form 26AS while filing ITR

​What Form 26AS depictsGetty Images
​What Form 26AS depicts
Form 26AS, in simpler words, you tax passbook, is an annual statement of details of the tax credited against the PAN of an individual taxpayer. You can refer to it for the details of your income (which is subjected to tax) as well as the taxes that have been paid on your behalf by the deductor (your employer, the bank etc.) to the government treasury. You can access the form via the Income-tax department's e-filing portal using your PAN.

This year, the Form 26AS will come with some significant changes. A new format and new financial transactions are some features taxpayers can expect to see. These changes were notified by the government via a notification dated May 28, 2020. The revamped Form 26AS will become more potent in the hands of the tax authorities thus, it is important for taxpayers to be aware of what has changed.
​Personal/general detailsGetty Images
​Personal/general details
The new Form 26AS has two parts- A and B. Part A of the Form contains general information about the tax payer against the following fields- PAN, Aadhaar Number, name, DOB/incorporation date, mobile number, email address and residential address. The fields for mobile number and email address were not present earlier and have now been added.
Details of specific financial transactionsiStock
Details of specific financial transactions
These fall under part B of the form, the part which contains information regarding TDS/TCS, demand and refunds, pending proceedings etc. Along with the details of tax deducted from various income sources such as salary, interest etc. and deposited against your PAN during the financial year, the revised form will also have information related to specified financial transactions.

These include cash transactions, credit card payments, investments such as buying and selling of shares, real estate etc., making cash payments for purchase of bank drafts, pre-paid instruments by the RBI (such as mobile wallets), cash deposits in a financial year, payment of credit card bills (all modes). However, all such transactions have been prescribed specific limits and only if they cross these limits will they be shown in the form.
​Income tax demand and refund detailsGetty Images
​Income tax demand and refund details
Want to know if a tax refund has been paid to you for the year or if you have an outstanding tax demand against your name? You will be able to get this information in the new Form 26AS. Earlier, such information could be accessed on the e-filing website of the tax department.
​Details of income tax proceedingsGetty Images
​Details of income tax proceedings
Another new feature of the Form 26AS is that if you have been involved in any income tax proceedings, pending and/or complete, information of the same for that particular assessment year will be mentioned in the form. This will help taxpayers match their records with the data uploaded by the income tax authorities.


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