The Finance Act 2020, in order to extend the scope of Form 26AS beyond the information about tax deducted, inserted a new section 285BB regarding Annual Information Statement (AIS)
Now, as per Section 285BB the following information to be reflected in Form 26AS or Annual Information Statement (AIS) of the person holding a valid PAN number:
The new 26AS Form (AIS) aims at curbing tax evasion, promote transparency and simplify the tax system and the return filing process.
Extract of the New Form 26AS (Annual Information System):
Source: Notification No. 30/2020/F. No. 370142/20/2020-TPL