I-T dept detects 68k mismatching returns
56% of taxpayers already satisfactorily replied to the notice or filed updated tax pertaining to 2019-20 fiscal
image for illustrative purpose
New Delhi: As many as 68,000 cases have been picked up for e-verification by the Income-Tax (I-T) department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday.
Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial transaction and the I-T returns filed. The taxpayer can reply to the tax department giving explanation for the mismatch or can file updated returns if they feel the mismatch flagged in e-verification notice is correct.
“On a pilot basis, about 68,000 cases pertaining to 2019-20 fiscal have been taken up for e-verification based on risk management parameters set by the department. Of this, in 56 per cent cases or 35,000 cases the taxpayer have already satisfactorily replied to the notice or filed updated tax return,” Gupta said.
