{"id":38460,"date":"2023-04-10T13:29:33","date_gmt":"2023-04-10T07:59:33","guid":{"rendered":"https:\/\/plyinsight.com\/?p=38460"},"modified":"2023-05-02T10:54:48","modified_gmt":"2023-05-02T05:24:48","slug":"e-verification-of-mismatch-cases-in-tax-returns","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/e-verification-of-mismatch-cases-in-tax-returns\/","title":{"rendered":"E-verification of mismatch cases in tax returns"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"color: #000000;\">The Income Tax Department has selected 68,000 cases of &#8216;high value&#8217; transactions for e-verification by those who had not correctly reported in their FY2020 tax returns.<\/span><\/p>\n<p><span style=\"color: #000000;\">These transactions are of both personal and corporate. Differences were found in their Annual Information Statements (AIS) and income tax returns filed during this period.<\/span><\/p>\n<p><span style=\"color: #000000;\">AIS are a comprehensive account of the financial transactions of the taxpayer. This includes bank deposits, share transactions, etc.<\/span><br \/>\n<span style=\"color: #000000;\">The e-verification scheme was started in September 2022. The objective was to reconcile the ITRs filed by taxpayers with the details of various reporting financial entities. <strong>The Income Tax Department brings to the notice of taxpayers under the e-verification scheme the discrepancy in the Annual Information Statement (AIS) regarding financial transactions and the IT returns filed.<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">If taxpayers feel that the discrepancy pointed out in the e-verify is not correct, they can send a reply to the tax department giving an explanation for the same. Under this scheme, if the taxpayers feel that the e-verification notice is correct, they can file an updated return. In cases where no response is received, the tax department prepares a confirmation report which can lead to further risk assessment and the return filed can be taken up for tax assessment again.<\/span><\/p>\n<p><span style=\"color: #000000;\">The date for filing the updated income tax return has been kept as 31 March 2023, which is for the assessment year 2020-21. The tax department informs the taxpayer electronically about the cases taken up for e-verification and gives them 15 days to inform the income tax department.<\/span><\/p>\n<p><span style=\"color: #000000;\">It may be noted that if any search or survey or penal action is going on against the taxpayer, he cannot file an updated return.<\/span><\/p>\n<hr \/>\n<hr \/>\n<p><a href=\"https:\/\/plyinsight.com\/hi\/placement-offered\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-34610\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-300x64.jpg\" alt=\"\" width=\"1036\" height=\"221\" srcset=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-300x64.jpg 300w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-1024x219.jpg 1024w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-768x164.jpg 768w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-18x4.jpg 18w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered-600x128.jpg 600w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Offered.jpg 1440w\" sizes=\"auto, (max-width: 1036px) 100vw, 1036px\" \/><\/a><\/p>\n<hr \/>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>\u0915\u0930 \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0905\u0938\u092e\u093e\u0928\u0924\u093e \u092e\u093e\u092e\u0932\u094b\u0902 \u0915\u093e \u0908-\u0938\u0924\u094d\u092f\u093e\u092a\u0928<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">\u0906\u092f\u0915\u0930 \u0935\u093f\u092d\u093e\u0917 \u0928\u0947 \u0908-\u0938\u0924\u094d\u092f\u093e\u092a\u0928 \u0915\u0947 \u0932\u093f\u090f \u2018\u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0942\u0932\u094d\u092f \u0915\u0947\u2019 \u0932\u0947\u0928\u0926\u0947\u0928 \u0915\u0947 68,000 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\u0926\u0947\u0924\u0947 \u0939\u0941\u090f \u0915\u0930 \u0935\u093f\u092d\u093e\u0917 \u0915\u094b \u091c\u0935\u093e\u092c \u092d\u0947\u091c \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u092f\u094b\u091c\u0928\u093e \u0915\u0947 \u0924\u0939\u0924 \u0905\u0917\u0930 \u0915\u0930\u0926\u093e\u0924\u093e\u0913\u0902 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0908-\u0938\u0924\u094d\u092f\u093e\u092a\u0928 \u0928\u094b\u091f\u093f\u0938 \u0938\u0939\u0940 \u0939\u0948 \u0924\u094b \u0935\u0947 \u0905\u0926\u094d\u092f\u0924\u0928 \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u093e\u0916\u093f\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093f\u0928 \u092e\u093e\u092e\u0932\u094b\u0902 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948, \u0915\u0930 \u0935\u093f\u092d\u093e\u0917 \u090f\u0915 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\u0932\u093f\u090f \u0939\u0948\u0964 \u0908-\u0938\u0924\u094d\u092f\u093e\u092a\u0928 \u0939\u0947\u0924\u0941 \u0932\u093f\u090f \u0917\u090f \u092e\u093e\u092e\u0932\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u0930 \u0935\u093f\u092d\u093e\u0917 \u0915\u0930\u0926\u093e\u0924\u093e \u0915\u094b \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u0942\u091a\u0928\u093e \u0926\u0947\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0928\u094d\u0939\u0947\u0902 \u0906\u092f\u0915\u0930 \u0935\u093f\u092d\u093e\u0917 \u0915\u094b \u0938\u0942\u091a\u0928\u093e \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 15 \u0926\u093f\u0928 \u0935\u0915\u094d\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964<\/span><\/p>\n<p><span style=\"color: #000000;\">\u0909\u0932\u094d\u0932\u0947\u0916\u0928\u0940\u092f \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0915\u0930\u0926\u093e\u0924\u093e \u0915\u0947 \u0916\u093f\u0932\u093e\u092b \u0915\u094b\u0908 \u0924\u0932\u093e\u0936\u0940 \u092f\u093e \u0938\u0930\u094d\u0935\u0947 \u092f\u093e \u0926\u0902\u0921\u093e\u0924\u094d\u092e\u0915 \u0915\u093e\u0930\u094d\u0930\u0935\u093e\u0908 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b \u0924\u094b \u0935\u0939 \u0905\u0926\u094d\u092f\u0924\u0928 \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u093e\u0916\u093f\u0932 \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_raw_code wpb_raw_html wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<html>\n<head>\n<\/head>\n<body>\n  <marquee behavior=\"scrolling\" direction=\"left\" scrollamount=\"3\" seamless>\n    <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/10\/Logos-2.png\" width=\"800\" height=\"600\" alt=\"Natural\" \/>\n <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/10\/Logos-2.png\" width=\"800\" height=\"600\" alt=\"Natural\" \/>\n  <\/marquee>\n<\/body>\n<\/html>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"The Income Tax Department has selected 68,000 cases of 'high value' transactions for e-verification by those who had not correctly reported in their FY2020 tax returns. These transactions are of both personal and corporate. Differences were found in their Annual Information Statements (AIS) and income tax returns filed during this period. AIS are a comprehensive [...]","protected":false},"author":1,"featured_media":38462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4326],"tags":[4356],"class_list":["post-38460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-april-articles-2023","tag-e-verification-of-mismatch-cases-in-tax-returns"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>E-verification of mismatch cases in tax returns - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/e-verification-of-mismatch-cases-in-tax-returns\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"E-verification of mismatch cases in tax returns - 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