Implementation of e-Verification Scheme-2021: Income Tax Department has identified certain mismatchestween theinformation received from third parties on interest and dividend income, and theIncome Tax Return (ITR) filed by taxpayers. In many cases, taxpayers have not evenfiled their ITR.
In order to reconcile the mismatch, an on-screen functionality has been madeavailableintheComplianceportalofthee-filingwebsitehttps://eportal.incometax.gov.in for taxpayers to provide their response. At present,the information mismatches relating to Financial Years 2021-22 and 2022-23 havebeen displayed on the Compliance portal. The taxpayers are also being made awareof the mismatch through SMS and emails as perdetails available with theDepartment.
Those taxpayers who have already registered on the e-filing website, cannavigate to Compliance portal directly after logging into their account. Details ofmismatches identified will be available under the “e-Verification” tab.
Taxpayers who are not registered on the e-filing website have to registerthemselves 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 canbe provided therein. After successful registration, the e-filing account can be loggedinto and the Compliance portal can be navigated to view the mismatches.
The on-screen functionality is self-contained and will allow the taxpayers toreconcile the mismatch on the portal itself by furnishing their response.Nodocument is required to be furnished. This is a pro-active step taken by theDepartment to reach out to the taxpayers and provide them an opportunity torespondthe communication in a structured manner. It is clarified that the saidcommunication is not a notice.
In case the taxpayer has disclosed the interest income in the ITR underthe line item ‘Others’ in the Schedule OS, he/she need not respond to themismatch pertaining to the interest income. The said mismatch shall beresolvedits own and will be reflected in the portal as ‘Completed’.
The taxpayers who are unable to explain the mismatch may consider theoption of furnishing an Updated Income Tax Return if eligible, to make good anyunder reporting of income.
(Surabhi Ahluwalia)Pr. Commissioner of Income Tax(Media & Technical Policy) &Official Spokesperson, CBDT