IT department identifies ITR-related ‘mismatches’, announces this step for taxpayers

The tax body has released an on-screen functionality on the e-filing portal for taxpayers to furnish their response.

Published on: Feb 27, 2024, 07:57:49 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

The Income Tax department has released an on-screen functionality on its e-filing portal for taxpayer's response, after identifying what it said were ‘mismatches’ between income tax returns (ITRs) filed by taxpayers and the information received from third parties on interest and dividend income.

"The taxpayers are also being made aware of the mismatch through SMS and emails as per details available," the IT department said (Representational Image)

Also Read: Record 8.18 crore ITRs filed so far in AY 2023-24, says Finance Ministry

“At present, the information mismatches relating to Financial Years 2021-22 and 2022-23 have been displayed on the Compliance portal. The taxpayers are also being made aware of the mismatch through SMS and emails as per details available with the Department,” it said in press release.

Also, in several cases, the ITRs have not even been filed, the statement noted.

As per the IT department, the on-screen functionality is ‘self-contained’ and people can reconcile the mismatch on the portal itself by furnishing their response.

Also Read: CBDT notifies new ITR forms for Assessment Year 2024-25. Which one is for you?

“No document is required to be furnished. This is a pro-active 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. The said communication, however, is not a notice,” it added.

How to view the mismatch?

Those who are already registered on the e-filing website, can navigate to the Compliance portal directly after logging into their account.

Also Read: How much average processing time of ITR reduced in 10 years? Sitharaman reveals

On the other hand, people who are not registered on the website, must do so first. For this, they must click on the ‘Registration’ button the platform, provide relevant details, and set up their account. After this, the account can be logged into, and the mismatch viewed on the Compliance portal.

Who must not respond to the mismatch?

This is for individuals who have disclosed their interest income in the ITR under the line item ‘Others.' In this case, the mismatch shall be resolved on its own, and reflect as ‘Completed.’

Also Read: Maharashtra tops list with most ITRs filed at 1.98 crore. Delhi, UP ranked at…

Additionally, taxpayers who fail to explain the mismatch, must consider submitting an updated ITR if eligible, the IT department stated.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Income Tax Return

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.