Implementation of e-Verification Scheme-2021 by Income tax

Income Tax Department has identified certain mismatches between third party information on interest and dividend income, and the Income Tax Return (ITR) filed bytaxpayers.

Taxpayers can provide response on-screen functionality on Compliance portal of the e-filing website https://eportal.incometax.gov.in to reconcile mismatch.

Taxpayers are being informed of mismatch through SMS and emails as per details available with Income Tax Department.

Its Main features are:-

> The said communication is not a notice.

> Details of mismatches identified will be available under the ‘e-Verification’ tab on the compliance portal.

>At present, the information mismatches relating to Financial Years 2021-22 and 2022-23 have been displayed on the Compliance portal.

> If Interest income reported under ITR as Others, will be considered as reported and s/he need not respond to the mismatch pertaining to the interest income. 

> The taxpayers who are unable to explain the mismatch may consider the option of furnishing an Updated Income Tax Return if eligible, to make good any under reporting of income.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2009208