Not giving correct information about interest and dividend in ITR from the point of view of Income Tax

The IT (Income Tax Department) department has received information about many taxpayers whose income information is not matching with the information given in their income tax returns. In such a situation, there are many taxpayers who have not filed income tax returns. The Income Tax Department has identified such taxpayers. To remove this error, the Income Tax Department is providing an opportunity to the taxpayers to correct it by visiting the e-filing portal. Taxpayers are being given mismatched information by sending SMS and email.

interest and dividend income

Shortcomings have been found in the information provided by taxpayers regarding interest and dividend income in the income tax returns filed for the financial years 2021-22 and 2022-23. Information about interest and dividend income received from third parties i.e. banks and brokerage houses does not match with the ITR (INCOME TAX RETIRN) of the taxpayers. The Income Tax Department said that there are many taxpayers who have not even filed the income tax return.

portal facility

The Income Tax Department said that to remove this misunderstanding, it has started the e-Verification 2021 scheme. Onscreen facility has been provided in the Compliance Portal in the Income Tax e-filing website https://eportal.incometax.gov.in to correct this mismatch. The Income Tax Department said, currently, the relevant reconciliation information for the financial years 2021-22 and 2022-23 is available on the compliance portal.