CBDT begins sending emails, SMSs to assessees for mismatch in tax profile, fin transactions in FY24

The division has obtained info relating to particular monetary transactions carried out by people/entities throughout F.Y. 2023-24. Based mostly on an evaluation of taxes paid up to now within the present fiscal 12 months, the division has recognized circumstances the place tax funds for F.Y. 2023-24 (A.Y. 2024-25) don’t align with the monetary actions undertaken throughout that interval.

As a part of its taxpayer service efforts, the Revenue Tax Division is launching an e-campaign to tell these people/entities about their vital monetary transactions. This marketing campaign, labeled because the “Advance Tax e-Marketing campaign-Important Transactions for A.Y. 2024-25,” will urge them to precisely calculate their advance tax legal responsibility and submit the due quantity by March 15, 2024.

The Revenue Tax Division gathers info on specified monetary transactions from numerous sources. This info is then included within the Annual Data Assertion (AIS) module, accessible to people/entities for overview. The evaluation relies on the worth of “Important Transactions” listed within the AIS.

“The Revenue Tax Division receives info of specified monetary transactions of taxpayersfrom numerous sources. To extend transparency and to advertise voluntary tax compliance, this info is mirrored within the Annual Data Assertion (AIS) module and is obtainable to the individuals/entities for viewing. The worth of ‘Important Transactions’ within the AIS has been used for finishing up this evaluation,” the tax division stated in an announcement.

To entry particulars of great transactions, people/entities can log in to their e-filing accounts and to the Compliance Portal. From there, they’ll view vital transactions underneath the e-Marketing campaign tab.Those that aren’t registered on the e-filing web site want to finish the registration course of by clicking on the “Register” button and offering the mandatory particulars. After profitable registration, they’ll log in to their e-filing accounts and entry the Compliance Portal to view vital transactions by way of the e-Marketing campaign tab.