This Form is an annual consolidated tax
statement that one can access from the income-tax
department's website using permanent account number (PAN). One can refer to this form for the details of high value expenditure and taxes paid.
The Central Board of Direct Taxes
(CBDT) said that the Form 26AS earlier used to give information regarding tax deducted at source and tax collected at source, besides certain additional information including details of other taxes paid, refunds and TDS defaults.
Now, the Form will also have information on the new heads cited above, besides cash deposit or withdrawal from saving bank accounts, fixed deposits, sale, purchase of immovable property, buy back of shares.
CBDT said this would help the honest taxpayers
with update financial transactions
while filing their returns, whereas it will desist those who inadvertently practice concealing of financial transactions.