The Income Tax Department (ITD) has strengthened its vigilance in the
past few years and has made it a mission to identify stop- filers and
non- filers and hence widen the tax base effectively. Once they have
successfully identified these defaulters, they send a notice to such
persons. The notice will usually read as such-
“The Income Tax
Department has received information on financial transactions /
activities relating to you. A list of some of the information for
Financial Year is provided below. As per records, you do not appear to
have filed Income Tax Return for Assessment Years. “
If you
have received such a notice, then you will have to login to your
e-filing portal and issue an appropriate response as stated in the
compliance module. You would then have to print out this acknowledgement
of response and send a copy to the jurisdiction ITO (Income Tax
Officer) within a set number of days.
This additional crackdown-
information gathering and other associated operations- are done via CBI
)Central Information Branch). They will look beyond the Annual
Information Report, as per Form 26AS, furnished by the ward. Since 2011,
they have been working tirelessly to ensure a transparent exchange fo
financial information between the individuals and the ITD by gathering
information about investments, expenses, payment of taxes etc. For more
information about our services and CA’s in Mysore, do visit our website at www.ca-msa.com
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