Got income tax notice for not filing ITR despite high value transactions? Here’s what to do – The Economic Times

Information details can be viewed under e-verification menu on the Compliance Portal.
Many persons who have done high-value transaction in financial year 2017-18, but not yet filed income tax return for FY 2017-18 have been identified by the income tax department. These people have been sent notices asking them to reply or file their income tax return within 21 days, as per a recent government release. As per the release, if a satisfactory reply is received then the case would be closed else necessary action would be taken if ITR is also not filed.

For transparency and to reduce compliance cost of people who have been issued such notices, an online verification and response facility has been made available, by the income tax department.

Such persons may ascertain their tax liability for F.Y 2017-18 and file their tax returns (ITR) or submit online response within 21 days.

Here is how to submit your response in case you are one of the recipients of the above mentioned notices.

You can submit your response online by following these steps.

Step 1
Login to compliance portal : Login to the e-filing portal (https://www.incometaxindiaefiling.gov.in) and click on the ‘Compliance Portal’ link which is available in ‘My Account’ to navigate to the ‘Compliance Portal’ (https://compliance.insight.gov.in/)

Step 2
View information details: Information details can be viewed under e-verification menu on the Compliance Portal.

Step 3
Upload return or submit details: Upload the return on e-filing portal after paying due taxes. If return is already filed, submit details under ‘Filing of income tax return’ on Compliance Portal. In case you are not liable to file return, you may submit online response. You may keep the print out of submitted responses for record.

There is no need to visit income tax office. Response is to be given online. User guide and Frequently Asked Questions (FAQs) are provided under the “Resource” menu on Compliance portal. Further, if you have any query you can call on this toll-free number 1800 103 4215 during business hours (9:30 AM to 6:00 PM) on working days. You can also click on the help icon on the compliance Portal to get support/call back.

via Got income tax notice for not filing ITR despite high value transactions? Here’s what to do – The Economic Times

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