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IT Department’s big campaign, be careful with thick Transaction

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new Delhi. For the financial year 2018-19, people who have not filed Income Tax Return or who have some shortcomings in their returns, to start an 11-day e-campaign from July 20 to bring awareness of voluntary compliance of income tax. Is going. Giving information about the Central Board of Direct Taxes, the Central Board of Direct Taxes said that the purpose of this campaign is to provide information about online tax or financial transactions to taxpayers and promote voluntary compliance. To give notice so that they cannot be issued notice. This campaign is being launched with the aim of benefiting taxpayers. Under this, departments will send e-mails or SMS to the taxpayers to authenticate their financial transactions. The last date to fill the Income Tax Return Filing Deadline for the year 2018-19 has been set as 31 July 2020.

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Department will verify information
As part of the e-campaign, taxpayers will be informed about the tax dues and financial transactions by the Income Tax Department for the financial year 2018-19. It will also encourage tax collection by itself. Keeping these things in mind, the department will neither have to send a notice nor any kind of investigation will be done. As part of the e-campaign, taxpayers will be sent an email and SMS to the IT department verifying the details of financial transactions received from different sources including statements of financial transactions, TDS, money from abroad.

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This type of information collected by the department
Information related to GST, exports, imports, and transactions in securities, derivatives, commodities, mutual funds etc. has been collected by the Income Tax Department. The department has identified taxpayers who have transacted higher value than data analysis, who have not filed returns since 2018-19. Under this campaign, taxpayers will also be able to give information on the website. Also the information is correct, the information is not completely correct, the information is related to another person / year, the information is duplicate / included in other displayed information, and the information is rejected such that you can also give your feedback by choosing the option.

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