IT department issued important update on Form 26AS and AIS



Quick Summary
The Income Tax Department has announced a significant change to how information is presented in Form 26AS and the Annual Information Statement (AIS) from Assessment Year 2023-24. Moving forward, Form 26AS will exclusively show Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) data. All other tax-related information, including advance tax, self-assessment tax, and refunds, will be consolidated within the AIS.

Form 26AS and AIS Update: Income Tax Dept Clarifies Changes

The Income Tax Department has issued an update on Form 26AS and Annual information statement ("AIS") stating that from Assessment Year ("AY") 2023-24 onwards, Form 26AS display only TDS/TCS data. Other taxes like advance tax, Self-assessment tax, refund etc., would be available in the AIS.

FAQ :

From Assessment Year 2023-24, Form 26AS will only display TDS/TCS data.

Other tax details, such as advance tax, self-assessment tax, and refunds, will now be available in the Annual Information Statement (AIS).

These changes are effective from Assessment Year 2023-24 onwards.

AIS stands for Annual Information Statement.




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