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Income Tax Department Clarification- The Income Tax Department has said in a post on ‘X’ that taxpayers can review their Annual Information Statement (AIS) by visiting the e-filing portal of the department. Along with this, the facility to submit online feedback through ‘Compliance Portal’ has also been provided.
New Delhi. The Income Tax Department has now issued a clarification in view of the atmosphere of fear and confusion created by the e-mails and SMS sent to many income taxpayers. The department has said that these messages sent regarding financial transactions are not meant to initiate any legal action. Their purpose is only to tell that if there are some mistakes in the return of the income tax payer then they should correct them. Actually, some taxpayers feel that they have committed some mistake, that is why these e-mails and SMS have come from the department. Many taxpayers had expressed concern over messages asking them to check their filings and withdraw wrong claims.
In a post on ‘X’, the Income Tax Department has clarified that these alerts are being sent only in cases where discrepancies have been found between the returns filed by the income tax payer and the data received from various reporting entities (such as banks or other financial institutions). The department already has information about major financial transactions of taxpayers. The income tax payer is informed only if there is a discrepancy between the data in the Annual Information Statement (AIS) and the filed return. This communication is only an ‘advisory’, sent for the convenience of taxpayers to double-check the correctness of their filings.
Income Tax Department is taking strict action
This clarification has come at a time when the department has shown strictness in cases of fake refund claims and wrong tax deductions. Particularly, strict action is being taken against those middlemen and tax consultants who instigate taxpayers to file false claims in the name of donations made to unrecognized political parties or dubious charitable trusts. The department has found that in many cases fake documents have been used to reduce tax liability. In such a situation, the department has given an opportunity to the taxpayers to update their returns in time and withdraw any wrong claims, so that they can avoid coming under the scrutiny of the department.
Some references have come to the notice of the Income Tax Department regarding recent communication sent to taxpayers pertaining to transaction(s) made by them.
Taxpayers may please note that such communication is to facilitate the taxpayers & make them aware of the information…
