The Central Board of Indirect Taxes in its press release dated 18th July 2020 decided to start an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from 20th of July, 2020 till 31st July 2020.
The 11 days campaign ending on 31st July, 2020 focuses on the assessees/taxpayers who are either non-filers or have discrepancies/deficiency in their returns for the FY 2018-19.
The objective of the e-campaign is to facilitate taxpayers to online validate their tax and financial transaction information available with the IT Department and to promote voluntary compliance, especially for the assessees for 2018-19 so that they do not need to get into notice and scrutiny process. The Income Tax Department will send Email/Sms to identified taxpayers to verify their financial transactions related information received by the I-T Department from various sources such as Statement of Financial Transactions (SFT), Tax Deduction at Source (TDS), Tax Collection at Source (TCS), Foreign Remittances (Form 15CC) etc.
Under the e-campaign, the taxpayers will be able to access details of their high value transaction related information on the designated portal. They will also be able to submit online response by selecting among any of these options: (i) Information is correct, (ii) Information is not fully correct, (iii) Information related to other person/year, (iv) Information is duplicate/included in other displayed information, and (v) Information is denied. There would be no need to visit any Income Tax office, as the response has to be submitted online.
Click here to read the notification.
