Income Tax Return: The Central Board of Direct Taxes (CBDT) has said that it has found discrepancies in certain income tax returns and third party information, which the taxpayers have to correct.
Income Tax Department: If you file Income Tax Return (ITR) and have filed your tax return in the year 2021-22 and 2022-23, then there is important news for you. It may be possible that you need to correct some mistakes in your ITR. The Central Board of Direct Taxes (CBDT) has said that it has found discrepancies (ITR details mismatched) in some income tax returns and third party information, which the taxpayers have to correct.
What has CBDT said?
The Income Tax Department on Monday said it has found discrepancies in the income tax returns filed by some taxpayers and the information about dividends and interest income received from third parties. The Central Board of Direct Taxes (CBDT) said in the statement that the e-filing website https://eportal.incometax.gov.in (https://eportal.incometax.gov.in) compliance portal is available to the taxpayers to express their views. But arrangements have been made.
The Income Tax Department has identified some discrepancies between the information received from third parties on interest and dividend income and the income tax returns (ITR) filed by taxpayers. It said that in many cases, taxpayers have not even filed their ITR. Currently, discrepancies have been found in the information related to 2021-22 and 2022-23 on the e-filing compliance portal.
What options do taxpayers have now?
Measures have been taken on the screen of the compliance portal of the e-filing website ‘https://eportal.incometax.gov.in’ to enable the taxpayers to provide their feedback for rectification of discrepancies. CBDT said, “As per the information available with the department, taxpayers are also being informed about the discrepancy through SMS and e-mail.”
It said that taxpayers who are unable to clarify the discrepancy may consider the option of submitting an updated income tax return to rectify the case of under-reporting of income. CBDT said that details of identified discrepancies will be available on the portal under the ‘e-verification’ tab.
