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Home TAX Income Tax Department cautions taxpayers, have you also done this transaction?

Income Tax Department cautions taxpayers, have you also done this transaction?

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The last date to file revised Income Tax Return (ITR) is December 31, 2023. If you have not filed ITR yet, you can file the return with penalty till 31st December. The Income Tax Department has shared the message to many taxpayers .

The Income Tax Department is keeping an eye on the taxpayers who have done high value transactions in this financial year. The Income Tax Department is sending a message to taxpayers doing high value transactions. The Income Tax Department has made a post regarding this on X (formerly Twitter).

Meaning of the message sent by the Income Tax Department

Income Tax Department is sending messages to many taxpayers regarding high value transactions. The department is advising the taxpayer through SMS. Many people are considering this message as a notice, whereas let us tell you that this is not a notice but an advice is being given by the department. The department is advising the taxpayer to file revised returns on time.

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The department said in its ex-post that taxpayers can fill the feedback online on the official portal of the department. Apart from this, taxpayers can also modify the return.

You have also received the message from ITD

If you have also received a message from ITD, then first of all you will have to remove AIS. After this you match the AIS with the returns. If there is any mismatch, you can file a revised return. You can respond on the Compliance Portal on the official portal of the Income Tax Department.

To respond on the Compliance Portal, you have to log in to the e-filing portal ( www.incometax.gov.in/ ) . After this you have to go to Pending Action and select Compliance. Now after clicking on the ‘e-Campaign Tab’, high-value transactions will be shown. Here you can enter the reply for these transactions.

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