Income Tax SMS and e-mail: The Income Tax Department on Tuesday said that it is sending SMS and e-mails to taxpayers and non-filers regarding the difference in income tax returns and annual information details.
These SMS and e-mails are being sent in cases where a difference has been found between the information given about the transactions in the Annual Information Details (AIS) for the financial years 2023- 24 and 2021-22 and the income reported in the ITR.The Central Board of Direct Taxes (CBDT) said in a statement that it has launched a campaign to assist taxpayers in resolving the discrepancy between the income and transactions reported in the AIS and the income and transactions in the Income Tax Return (ITR) for the financial years 2023-24 and 2021-22.
It has also identified those individuals whose taxable income or significant high-value transactions are reported in their AIS but they have not filed ITR for the respective financial year. This initiative is part of the implementation of the e-Verification Scheme, 2021.
Under this campaign, informative messages have been sent through SMS and e-mail to taxpayers and non-filers of income tax returns in cases where there is a difference between the transaction information given in the Annual Information Statement and the information in the ITR. Annual Information Statement is a comprehensive view of information for a taxpayer. Taxpayers can view the AIS on the Income Tax Department portal and give their feedback on the information given therein. The AIS shows both the reported value and the revised value (i.e. value after considering taxpayer feedback).
The CBDT said that the objective of this campaign is to remind and guide individuals who have not fully disclosed their income in their ITR. This will enable them to file revised ITR for the financial year 2023-24, the last date for which is December 31.
Taxpayers can file updated ITRs for matters relating to FY 2021-22 by the deadline of March 31, 2025. The CBDT had launched a campaign last month. Under this, messages were sent to taxpayers who have not disclosed high-value foreign income or assets in their ITRs for the assessment year 2024-25.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.