Attention taxpayers! Income Tax Department is sending notices to these taxpayers, know the reason

ITR Filing: If you also file income tax return then you should know about this news. Notices are being sent to some taxpayers by the Income Tax Department. In the information given by the department, it was said that Income Tax is sending notices to some taxpayers for the financial year 2020-21. Such people have been included in the list of notices on whose behalf the information given in the ITR filed and the information available with the department are not matching.

It is necessary to update after checking ITR

It is possible that you too may have made some mistakes or missed updating important information in your income tax return for FY 2020-21 (Assessment Year 2021-22). If yes, the tax department has asked you to file an updated return. The last date for filing updated returns is March 31, 2024. The Income Tax Department says that if you have not filed your ITR for the financial year 2020-21 (AY 2021-22). In such a situation, if the Income Tax Department has information about your high value financial transactions, then you will have to update your return after examining it.

Check your fault with AIS

This information is being given by the Income Tax Department through e-mail. This is part of e-verification scheme-2021. Taxpayers have been advised by the Income Tax Department to check their Annual Information Statement (AIS) through the e-filing portal of the Income Tax Department. Any type of fault can be identified through AIS. You can also file updated income tax returns, if necessary.

What will need to be done?

If you have also received a notice related to the Income Tax Department, then you will have to file your updated income tax return. Before filing the updated return, file it carefully after collecting all the information of the relevant assessment year. The department has given time till March 31, 2024 to complete this work.

What to do if you get a second notice?

Apart from this, notices were also sent to some taxpayers recently by the Income Tax Department. If you have also received such a notice, it would be better if you respond to it within the stipulated time. When you get the notice, first check what is there? For this, take information from CA and collect necessary documents. After this, reply to the notice in the prescribed format. Generally it takes 15 days to respond to the notice. If for some reason you are not able to respond within this time, request the local assessment officer to extend the deadline.