The changed format of Form 26AS or Annual Information Statement brought out by the Income Tax Deptt earlier, digitally captures and reflects details of all high value transactions, making it easier for taxpayers to check their details conveniently.
The Income Tax Department of India requires to upload annual information statements in new form 26AS containing the details of Tax Credit in the account of a taxpayer as per the records of the department. It is mandatory to prepare traces form 26AS under the Rule 114I (Rule 31AB has been omitted with effect from 1 st June 2020) of Income Tax Act, 1961.
The Central Board of Direct Taxes (CBDT) has introduced some new changes to Form 26AS filing. From this year, the SFTs will help the assessees to recall the financial transactions to file reckoner ITR (Income Tax Returns). From now on, all the transactions like cash deposit/withdrawal from saving bank accounts, credit card payments, purchase of shares, debentures, foreign currency, sale/purchase of immovable property, time deposits, mutual funds, buyback of shares and cash payment for goods and services will be recorded in the form. The move will bring more transparency and detail to the form and the financial condition of the assessees.
Till now in the 26AS form, some specific personal details were required such as Name, Address, and PAN but the new Form will have more details such as date of Birth, Registered Email Address, and Mobile/ Phone number. This amendment has been done to keep you aware of the provided communication options, and it will also help you to update these details if required.
The Income Tax Department says that the new Form 26AS is the Faceless Handholding of the Taxpayer which is transparent, convenient and comprehensive.
Step By Step Guide to Download 26AS Form on New ITR 2.0 Portal
Step 1: Log in to ‘new income tax Portal https://www.incometax.gov.in by tapping on the login button at the Top Right Corner of the website.
Step 2: Go to the ‘e-File’ / Income Tax Returns / menu, click ‘View Form 26 AS (Tax Credit)’ link.
Step 3: Read the disclaimer, click ‘Confirm’ and you will be redirected to TDS-CPC Portal.
Step 4: In the TDS-CPC Portal, Agree to the acceptance of usage. Click ‘Proceed’.
Step 5: Tap on the ‘View Tax Credit (Form 26AS)’
Step 6: By choosing the ‘Assessment Year’ and ‘View type’ (HTML, Text, or PDF). Click “View/Download”
Step 7: For exporting the tax credit statement as a PDF see it as HTML> tap on export as PDF and you shall be enabled to download the form 26AS in PDF format.