As you know you can file your belated Income Tax
Returns by 31st
March of the relevant Assessment Year. If a taxpayer has not filed his/her
returns for the Financial Year 2015-16, according to the Income Tax Department,
the taxpayer should file returns on time. The Department is sending intimations
to the taxpayers who didn’t pay taxes. Here is what IT Department is asking you
to submit online for compliance: -
The Department has various sources, through
which it identifies non-filers with potential tax liabilities. The Income Tax department
analyses information received from different sources like, The Annual
Information Return (AIR), Statements of financial transactions (SFT), The
Centralised Information Branch (CIB), Tax deducted and collected at source (TDS
and TCS) statements, Securities Transaction Tax (STT), and taxpayer’s profile.
On the basis of the information that the
Department collects from the above-mentioned sources, it analyses them and
sends e-mails as well as text messages to the taxpayers for the further
clarification of the information received.
The Income Tax Department, gives
information about the basis and the reason behind the query for a better
insight, so that the taxpayer can rectify the issue.
How
can I respond to Compliance Notice?
If you receive any notice related to
compliance, you will have to log in to the compliance portal and use your
e-filing account. Under the head My Account click Compliance Portal and that
will take to Compliance Section.
In this section you will find a list of
compliance details that needs verification. Click on the ‘View’ option on the
left and you will see the list of issues that requires verification. You need
to submit responses accordingly.
You will be asked to choose from options,
that is whether ITR is filed or It is yet to be filed? If you click on the ‘ITR
has been filed’ response, the IT department will close the case after verifying
whether the taxpayer has indeed filed the return or not.
If any issue arises, the taxpayer will
receive a notification to provide the correct acknowledgement number. If a
taxpayer chooses the option ‘ITR has not been filed,’ then he/she will have to
provide a valid reason for not filing the return.
You must make sure that you respond to the
notices within 15 days of receiving them or by the due date mentioned.
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