Income Tax Department To Send Notice For ITR Mismatch, Details Here
NDTV
The Income Tax Department encourages those who received notices regarding discrepancies in their Income Tax Returns.
The Income Tax Department has initiated a process of issuing formal notice to taxpayers regarding potential discrepancies identified between the information reported in their Income Tax Returns (ITRs) and the Department's records of specific financial transactions for the assessment year 2021-22 (financial year 2020-21).
The Income Tax Department encourages those who received notices regarding discrepancies in their Income Tax Returns for the assessment year 2021-22 (financial year 2020-21) to file updated returns by March 31, 2024. This applies specifically to individuals identified through the e-verification scheme due to either mismatched or missing information.
The tax department additionally stated that individuals who haven't filed Income Tax Returns for the assessment year 2021-22, but the department possesses information on specific high-value financial transactions related to them, are also required to file updated returns after careful examination.
