Via e-campaign, persons/entities holding influential financial transactions will be disclosed through email/SMS to encourage them to calculate and deposit their due advance tax on or before 15.03.2024
On specific financial transactions embarked by persons/entities at the time of Financial Year (F.Y.) 2023-24, the Income Tax Department has obtained specific data. Based on the analysis of the taxes filed so far in the ongoing fiscal year, the department has recognized such persons/entities in which the tax payment for F.Y. 2023-24 (A.Y. 2024-25) is not proportional with the financial transactions made via the concerned persons/entities, in the said period.
As a part of a taxpayer service initiative, the Department is conducting an e-campaign, which seeks to inform such persons/entities of significant financial transactions, via email (marked as Advance Tax e-Campaign-Significant Transactions for A.Y. 2024-25) and SMS, encouraging them to calculate their advance tax obligation precisely and deposit the due advance tax on or before 15.03.2024.
The details of certain financial transactions of the assessees from distinct sources have been obtained by the Income Tax Department. To surge the clarity and to encourage voluntary tax compliance the same data is been shown in the module of Annual Information Statement (AIS) and is present to the persons/entities for viewing. To perform the same analysis, the ‘Significant Transactions’ value in the AIS is been utilised.
To view the significant transaction information, the persons/entities can log in to their e-filing account (if already created) and proceed to the Compliance Portal. The e-Campaign tab can be accessed to view significant transactions on this portal.
It is necessary to enrol first on the e-filing website for individuals who do not have registered on the e-filing website. For registration, the ‘Register’ button on the e-filing website can be tapped and the pertinent details can be furnished therein. Post successful registration, the e-filing account can be logged into and the Compliance portal can be accessed to see noteworthy transactions via the e-Campaign tab.
It is another initiative of the department to facilitate compliance for the assessees and support its commitment to increase the services of taxpayers.
