I-T Dept Detects Mismatches in ITRs, Urges Taxpayers To E-verify Status
IANS 27 February 2024
The income-tax (I-T) Department said on Monday that it has identified certain mismatches between the information received from third parties on interest and dividend income, and the income-tax return (ITR) filed by the taxpayers. In many cases, the taxpayers have not even filed their ITR.
In order to reconcile the mismatch, an on-screen functionality has been made available in the compliance portal of the e-filing website https://eportal.incometax.gov.in for the taxpayers to provide their response.
At present, the information mismatches relating to financial years 2021-22 and 2022-23 have been displayed on the compliance portal. The taxpayers are also being made aware of the mismatch through SMS and emails as per details available with the I-T Department.
Those taxpayers who have already registered on the e-filing website, can navigate to the compliance portal directly after logging into their account. Details of mismatches identified will be available under the 'e-Verification' tab, according to the I-T department statement.
Taxpayers who are not registered on the e-filing website have to register themselves on the e-filing website to view the mismatch. For registration, the 'Register' button on the e-filing website can be clicked and the relevant details can be provided therein. After successful registration, the e-filing account can be logged into and the compliance portal can be navigated to view the mismatches.
The on-screen functionality is self-contained and will allow the taxpayers to reconcile the mismatch on the portal itself by furnishing their response. No document is required to be furnished. This is a pro-active step taken by the department to reach out to the taxpayers and provide them an opportunity to respond to the communication in a structured manner. It is clarified that the said communication is not a notice, the I-T department stated.
In case the taxpayer has disclosed the interest income in the ITR under the line item ‘Others’ in the Schedule OS, he/she need not respond to the mismatch pertaining to the interest income. The said mismatch shall be resolved on its own and will be reflected in the portal as ‘Completed’.
Taxpayers who are unable to explain the mismatch may consider the option of furnishing an Updated ITR if eligible, to make good any under reporting of income.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
4 months ago
It is true that this step has been initiated late. However, it is to be noted that the tax deductors, providers of annual information are not keen in providing accurate information.
4 months ago
IT department going on fishing expedition to harass honest tax payer, IT filing window is over, all the ITRs are processed and refunds received. now if anyone files an updated income return, they not only have to pay additional tax, but also huge fine and still their harassment will continue as updated ITR can be filed only once.
4 months ago
In my case the IT department has sent notice with wrong details , no accountability whatsoever . They are harassing honest taxpayers
Replied to banerjee.sreejit comment 4 months ago
Free Helpline
Legal Credit