An electronic campaign has been launched by the Central Board of Direct Taxes (CBDT) to support assessees in solving the mismatches between the income and transactions notified in the Annual Information Statement (AIS) and those shown in the ITR for the financial years 2023-24 and 2021-22.
Indeed the same campaign has the objective for the individuals that have the taxable income or higher value transactions notified in their AIS but not furnished the income tax return (ITR) for the respective years. The same initiative is counted at the start of the e-verification scheme 2021.
Within the campaign, informational messages have been sent through SMS and email to assessees and non-filers where mismatches have been recognized between transactions reported in AIS and the filed ITRs.
The messages have the goal of reminding and guiding the people who might not have revealed their income in their ITRs to take this chance to furnish the amended or belated ITRs for FY 2023-24. December 31, 2024, is the deadline to file these amended or belated ITRs.
The assessee for the related FY 2021-22 can file the updated ITRs by the limitation date of March 31, 2025.
The assessees can furnish their feedback along with disagreeing with the data notified in the AIS via the AIS portal accessible through the website of e-filing (https://www.incometax.gov.in/iec/foportal/).
The very initiative shows the devotion of the income tax department to provide the technology to ease compliance and assure clarity. Through the use of third-party data, the department has the objective to make a more efficient, system effective for the taxpayer that aligns with the Viksit Bharat opinion.
Read Also: Did You Receive Advisory on ITR Mismatches? Now What Next
CBDT motivates all taxpayers eligible to carry the advantage of the same opportunity to satisfy their tax obligation and contribute towards the economic development of the country. The measure assists the vision of the government for a developed India as well as promotes a culture of transparency, accountability, and voluntary compliance.
