Financial transactions that will be pre-filled in your ITR for the AY 2021-22
The income tax department notified the launch of pre-filled returns for ease and accuracy of filing, with this change Income tax department will have direct access to details of Capital gains, dividends and interest earned by the taxpayers. To facilitate this process, CBDT issued notification no 16/2021 dated 12th March 2021, and amended rule 114E. With this amendment this kind of transactions will be available in your form 26AS (Annual information statement) and auto populated in your ITR.
Amended rule authorise various entities (specified entities) to report specified financial transactions to the Income Tax department through SFT form 61A under section 285BA of the Income tax act. These specified entities will be responsible for providing the details of capital gains transactions, dividend and interest income of the taxpayers without any threshold limit.
Here is the list of specified financial transactions for the purpose of pre-filling ITR, that will be reported by the specified entities:
Sl. No. |
Nature of transaction |
Specified entities (reporting person) |
1. |
Capital gains on transfer of listed securities or units |
(i) Recognised (ii) depository (iii) Recognised (iv) Registrar |
2. |
Dividend income |
A |
3. |
Interest income |
(i) A (ii) Post (iii) Non-banking |