R U Non-filers of AY 2018-19 yet!
Response
online within 21 days
CBDT
identifies non-filers through Non-filers Monitoring System (NMS) by using Data
Analytics and request the Non-filers to assess their tax liability for AY
2018-19 and file the Income Tax Returns (ITR) or submit online response within
21 days.
The
Non-filers Monitoring System (NMS) aims to identify and monitor persons who
enter into high value transactions and have potential tax liabilities but have
still not filed their tax returns. Analysis was carried-out to identify
non-filers about whom specific information was available in the database of the
Income Tax Department.
The
sources of information include Statement of Financial Transactions (SFT), Tax
Deduction at Source (TDS), Tax Collection at Source (TCS), information about
foreign remittances, exports and imports data etc. Data analysis has identified
several potential non-filers who have carried-out high value transactions in
Financial Year 2017-18 but have still not filed Income Tax Return for
Assessment Year 2018-19 (relating to FY 2017-18).
The
Department has enabled e-verification of these NMS cases to reduce the
compliance cost for taxpayers by soliciting their response online. It is
reiterated that there is no need to visit any Income Tax office for submitting
response, as the entire process is to be completed online.
Taxpayers
can access information related to their case from the ‘Compliance portal’ which
is accessible through the e-filing Portal of the Department at https://incometaxindiaefiling.gov.in . The PAN
holder should submit the response electronically on the Compliance Portal and
keep a printout of the submitted response for record purposes. User Guide and
FAQs are provided under the “Resources” Menu on Compliance Portal.
Non-filers
are requested to assess their tax liability for AY 2018-19 and file the Income
Tax Returns (ITR) or submit online response within 21 days. If the explanation
offered is found to be satisfactory, matters will be closed online. However, in
cases where no return is filed or no response is received, initiation of
proceedings under the Income-tax Act, 1961 will be considered.
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