NEW DELHI: The income tax department is in the process of sending notices to taxpayers for ‘mismatches’ in Income Tax Returns (ITR) file for assessment year (AY) 2021-22. The income tax department has said as part of the e-Verification Scheme-2021, it is in the process of sending communication(s) to the taxpayers for the mismatch in information pertaining to AY2021-22 (FY2020-21).
This information is being communicated to the taxpayers through their e-mail accounts as registered with the Income Tax Department. The department has urged taxpayers to file updated ITRs by March 31, 2024. Non-filers have also been asked to submit their updated returns.
The Income Tax Department in a statement said that it receives information of specified financial transactions of taxpayers, from various sources. This information is reflected in the AIS module and is available to the taxpayer for viewing. The department further says that in some cases of ITRs filed for AY2021-22, a ‘mismatch’ has been identified, between the information filed in the ITR vis-a-vis information of specified financial transactions, as available with the department.
“In cases where Income tax returns for AY2021-22 have not been filed and the department is in possession of information of specified high value financial transactions, the same also needs to be examined,” the department says.