Income Tax e-Verification Scheme for mismatch between ITR-U and AIS/ Form 26AS

The Income Tax Department has issued a reminder for reporting entities regarding an e-Verification Scheme for mismatch between ITR-U and AIS/ Form 26AS.

Attention Reporting Entities!

Your quick and accurate response to the objections raised by taxpayers facilitates tax compliance. Your role as a reporting entity is an important aspect of the procedure of the e-Verification Scheme.

Procedure 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 u’s 139(8A) of IT Act, 1961, if eligible.

Taxpayer may raise objection to a transaction reported by reporting entity in the TDS/TCS/SFTings.

Your Role as Reporting Entitiy

If taxpayer raises objection, CIT (e- Verification) will communicate with you to verify specific transaction(s).

Your quick and accurate response is requested.

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