Recently announced that, the Income Tax department has added few new features in 26AS Form to help Indian taxpayers in submitting & filing income tax returns.
The new features of Form 26AS include information related to high value financial transactions of essences such as monthly credit card payments, purchase of shares through IPO/Secondary Market, Purchase of mutual funds, Gold & debentures, cash payment for goods and services.
New 26AS Form contains taxpayers' data as specified statements of financial transactions (SFTs Report) in different categories.
This revised 26AS Form is an annual consolidated tax statement that one can access from the income tax department e-filing website using a permanent account number (PAN) & login password. Taxpayer can refer to this 26AS form for the details of high value expenditure and taxes paid during a financial year.