CBDT Launches Electronic Campaign to Address Income and Transaction Mismatches for FY 2023-24 and FY 2021-22
In a move aimed at simplifying tax compliance and ensuring greater transparency, the Central Board of Direct Taxes (CBDT) has rolled out a special electronic campaign. This initiative targets taxpayers who have discrepancies in their income or transactions as reported in the Annual Information Statement (AIS) versus their filed Income Tax Returns (ITRs) for the financial years 2023-24 and 2021-22.
The campaign also focuses on individuals with significant high-value transactions or taxable income reported in their AIS but who have not filed ITRs for these respective years. By launching this program under the e-Verification Scheme, 2021, the Income Tax Department aims to help taxpayers rectify errors, update filings, and remain compliant.
What’s the Goal of the Campaign?
The primary objective of this campaign is to:
- Resolve mismatches between income/transactions reported in the AIS and ITRs filed.
- Remind individuals who have not filed their ITRs despite having taxable income or major transactions.
- Encourage taxpayers to take timely action by filing revised, belated, or updated ITRs.
Who Will Receive Notifications?
If you fall under any of these categories, you may receive an SMS or email from the Income Tax Department:
- Mismatches exist between the transactions in your AIS and what was disclosed in your filed ITR.
- You have taxable income or significant high-value transactions reflected in your AIS but have not filed an ITR for the year.
These notifications act as a nudge, encouraging taxpayers to review their filings and take corrective action without delay.
Important Deadlines to Note
To make compliance seamless, the department has provided ample time for taxpayers to file their ITRs:
- For FY 2023-24
- Taxpayers can file revised or belated ITRs until December 31, 2024.
- For FY 2021-22
- Taxpayers can file updated ITRs under Section 139(8A) of the Income Tax Act by the limitation date of March 31, 2025.
Filing within these deadlines allows individuals to resolve any discrepancies proactively, avoiding future complications or penalties.
How to Respond to the AIS Notifications?
If you’ve received a notification regarding mismatches or discrepancies:
- Visit the e-filing portal at: https://www.incometax.gov.in/iec/foportal/
- Review your Annual Information Statement (AIS) to cross-check income and transaction details.
- You can provide feedback on the AIS, including:
- Confirming the accuracy of the information.
- Disagreeing with incorrect or inaccurate details reported in the AIS.
- Based on your assessment, you can choose to file:
- Revised ITR (for FY 2023-24).
- Updated ITR (for FY 2021-22).
A Step Towards Taxpayer-Friendly Compliance
This initiative by the CBDT reflects the government’s commitment to utilizing technology for simplifying compliance and promoting transparency. By leveraging third-party data and the AIS, the Income Tax Department ensures a more streamlined and efficient process for taxpayers.
The campaign is also aligned with the government’s vision of Viksit Bharat—a developed India—by fostering a culture of voluntary compliance, accountability, and responsible tax behavior.
Why It Matters for You
For taxpayers, this campaign is a golden opportunity to:
- Review and correct their income tax filings without penalties.
- Avoid unnecessary scrutiny or follow-ups by proactively resolving mismatches.
- Contribute to the nation’s growth by fulfilling their tax obligations transparently.
Take Action Now
The CBDT encourages all taxpayers and non-filers to act promptly. Check your emails, SMS, and AIS details to ensure there are no mismatches or discrepancies. By filing your ITR or providing feedback where required, you not only ensure compliance but also contribute to building a transparent and accountable tax system.
Together, let’s take a step towards a stronger, developed India!
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