Every taxpayer in the country is required to file returns on time. If any information in the return is incorrect then strict action can be taken by the department. The Income Tax Department had recently issued a press release regarding mismatched information present in the returns. According to this release, now taxpayers can easily check mismatched information on the e-filing portal.
The Central Board of Direct Taxes has issued a press release. According to this press release, the Income Tax Department has identified certain mismatches between the information received from third parties on interest and dividend income of taxpayers and the Income Tax Returns (ITR) filed by taxpayers.
Apart from this, the department said that many taxpayers have not yet filed ITR.
The Income Tax Department has provided the facility of on-screen function on the e-filing website (https://eportal.incometax.gov.in) for the taxpayers to give their feedback on this. Here readers can easily give feedback.
Currently, information related to financial years 2021-22 and 2022-23 is mismatched on the portal. As per the details available with the department, taxpayers are also being made aware through SMS and email.
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How can taxpayers take advantage of this?
The department said that those taxpayers who are already registered on the e-filing website should log into their account. After this he can directly go to the compliance portal. Now all the information will be available under “e-Verification” tab.
If the taxpayer is not registered on the e-filing website, he/she must first register himself on the e-filing website. After this the taxpayers have to click on the “Register” button where they will get all the information.
After registration, the taxpayer can easily log in to the e-filing account. The compliance portal can then be used to view those mismatches.
Reconciliation of mismatched details will also be allowed in the on-screen facility. There is no need to submit any document for this. The Department informed that this is a proactive step taken by the Department to reach out to the taxpayers and provide them an opportunity to respond to the communication in a structured manner.
If the taxpayer has disclosed interest income in ITR under line item ‘Others’ in Schedule OS, he is not required to respond to the mismatch relating to interest income.
The press release issued by the department said that taxpayers who are unable to explain the mismatch may consider the option of furnishing income tax returns when eligible, so that any under-reporting of income can be corrected.
