CBDT notifies New Form 26AS i.e. Annual Information Statement w.e.f from June 01, 2020

No Comments

The CBDT vide Notification dated May 28, 2020, in the exercise of the powers conferred by section 285BB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. Short title and commencement.-(1) These rules may be called the Income-tax (11th Amendment) Rules, 2020. (2) They shall come into force with effect from the 1st day of June, 2020.

2. In the Income-tax Rules, 1962 –

  • (I) rule 31AB shall be omitted;
  • (II) after rule 114H, the following rule shall be inserted, namely:-
    “Annual Information Statement

114-I. (1) The Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems) or any person authorized by him shall, under section 285BB of the Income-tax Act,1961, upload in the registered account of the assessee an annual information statement in Form No. 26AS containing the information specified in column (2) of the table below, which is in his possession within three months from the end of the month in which the information is received by him:─

The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2020/219623.pdf