If you are going to file income tax return then this news is for you. Recently, the Income Tax Department has made some changes in the Form 26AS. Due to this change, filing income tax returns will be much easier than before.
Form 26AS and Variations
Actually, this form contains details of tax deducted at source (TDS) and tax collection at source (TCS). Now information of property and share transactions has also been included in this form. If you understand in easy language, the revised form will include the details of all major financial transactions of the taxpayer.
This will make it easier for taxpayers to file ITR. The taxpayer will remember the financial transaction through the form and an estimate will be prepared in advance while filing the ITR. Let us tell you that the last date for filing income tax return is till 30 November 2020.
