The Income Tax Department is reaching out to taxpayers concerning discrepancies in their Income Tax Returns (ITRs) for the assessment year 2021-22 (FY 2020-21). Taxpayers are urged to rectify these mismatches or missing information by filing updated ITRs by March 31, 2024.
Notice Issuance for Mismatched Information
Taxpayers whose cases have been flagged for mismatches or missing data under the e-verification scheme will receive notices from the Income Tax Department. These notices pertain to discrepancies between the information filed in the ITR and specified financial transactions available with the department.
Filing Updated ITRs
Individuals who have not yet filed ITRs for the assessment year 2021-22, and for whom the department has information on specified high-value financial transactions, are required to examine and file updated returns.
Communication Channels
The department is communicating with taxpayers through their registered email accounts. This communication aims to ensure that taxpayers are aware of the discrepancies and the need to rectify them by filing updated ITRs.
Accessing Annual Information Statement (AIS)
Taxpayers are encouraged to access their Annual Information Statement (AIS) through the e-filing portal of the Income Tax Department. By reviewing the AIS, taxpayers can identify any discrepancies and file updated ITRs (ITR-U) if necessary.
Promoting Voluntary Tax Compliance
To enhance transparency and encourage voluntary tax compliance, the information regarding specified financial transactions is reflected in the AIS module. This information is readily available to taxpayers for review, aiding them in fulfilling their tax obligations accurately.
