Income tax returns do not match small in the file: CBDT

Income tax returns do not match small in the file: CBDT

Principles are often cured when one tries to defeat a time limit. Like the deadline to enter the taxpayer every year. Since 2015, when the tax department took the heat on compliance and filed a computer-aided selection system to pull the case for investigation, the number of tax notices has been filed in Income Tax Return (ITR). . You can demand a demand for any item by simply leaving the mandatory field incorrectly informing you of interest, but it is all set to change now

From now on, taxman will not issue any demand notice in case of small differences between the taxpayer ITR and corresponding tax credit data received from banks and other financial institutions. The objective of this measure, introduced in the recent Financial Bill, is to solve some of the rotating problems between some of the data between tax-16 (provided by the employer) and form-26S, a tax credit statement received by the tax department. There is definitely good news for this salaried class, as is done by additional paper generated by demand instructions.

CBDT Chairman Sushil Chandra said, "We believe in the taxpayer and the steps are to ease the process of income tax return." CBDT Chairman Sushil Chandra said that the policy assessment will be applicable for all the returns introduced in the next assessment year (2018-19) , Starting on April 1

A senior IT official explained that the Department of Direct Taxes (CBDT), a policy making department for tax department, proposed to move the finance ministry, as the taxpayer and taxman official said among the ongoing communication between such cases in the ongoing system phase. , There can be true reasons for such connections and hence existing in this context Rakriyamam has taken a decision to change.

However, Chandra made it clear that all the cases where the matched amount is high or that raises any doubts of tax evasion, it will be taken for detailed investigation and can follow the demand notice.

As per the current process, the notice is issued by the Central Processing Center (CPC) of the IT department which is located in Bengaluru. It is a repository for processing ITR

But even if the threat of demand notice is abolished, it is important to note your return without any compensation. Related Assessments Before March 31, you can correct any errors. Therefore, the return of the registration in this financial year can be improved by March 31, 2019. You just have to log in to the Income Tax e-filing portal and you will have the option to say 'e-file' in reply to the section. 139 (9) '. A page will be open where you can change depending on the information.