Reportedly the income tax department on tuesday said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement (AIS) and income disclosed in ITRs for the financial years 2023-24 and 2021-22. In a statement, the Central Board of Direct Taxes (CBDT) said it has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the AIS and those disclosed in Income Tax Returns (ITRs) for the financial years 2023-24 and 2021-22.
Perhaps this campaign also targets individuals who have taxable income or significant high value transactions reported in their AIS but have not filed ITRs for the respective years. The initiative is part of the implementation of the e-Verification Scheme, 2021. As part of this campaign, informational messages have been sent via SMS and email to taxpayers and non-filers where mismatches have been identified between transactions reported in AIS and ITRs filed.
Moreover last month, the CBDT launched a campaign under which messages were sent to taxpayers who have not disclosed high-value foreign income or assets in their ITRs for AY 2024-25. These messages were intended for individuals identified through information received under bilateral and multilateral agreements, suggesting that they may hold foreign accounts or assets, or have received income from foreign jurisdictions.
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