New Form 26AS To Ask For Details On High-Value Transactions: Taxman

The Income Tax Department said on Saturday that the improved Form 26AS will demand additional details from the assessees, such as high-value financial transactions. The new Form 26AS - applicable for the current assessment year - will facilitate voluntary compliance and the ease of online filing of income tax returns. The existing Form 26AS demanded information on tax deducted at source (TDS) and tax collected at source (TDS) relatin...