Taxpayer can file ITR-U in case of mismatch between ITR and information shared by reporting entity: CBDT

The Income Tax Department has notified that Taxpayer can file ITR-U in case of mismatch between ITR and information shared by reporting entity.

Via tweet on his official twitter handle, the department stated, “Kind Attention Reporting Entities!. Your quick and accurate response to communication on e-Verification, is a step towards facilitating voluntary tax compliance. We call upon you to be Income Tax Department’s active partner in strengthening Digital India.”

AIM OF THE SCHEME:

• To verify the information received from Reporting Entities with the details filed in the Income Tax Return (ITR) by taxpayer.
• The mismatch between information provided by Reporting Entities and the ITR is shared with the taxpayer for clarification/ filing updated ITR us 139 (BA) of IT Act, 1961, if eligible.

YOUR ROLE AS REPORTING ENTITY:

• Taxpayer may raise objection to a transaction reported by you in the TDS/TC/SFT filings.
• If so, CIT (e-Verification) will communicate with you to verify specific transactions.
• Your quick and accurate response requested.
• We call upon you to be the Department’s active partner in strengthening Digital India.