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CBDT Cracks Down On Non-Return Filers Via Data Analytics

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The Central Board of Direct Taxation (CBDT) is making use of data analytics for identifying individuals who carry out transactions, having taxation implication but still have not filed their returns. The NMS or non-filers monitoring system is working on identifying non-filers whose database is already available with the department. And for this the different information sources being used 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.

CBDT Cracks Down On Non-Return Filers Via Data Analytics
 

Through the system, the high order transactions which have been undertaken in FY 2017-18 have been clamped down and till now i.e. for AY 2018-19, the returns have not been filed by potential taxpayers. And for this e-verification process has been enable by asking for response online to reduce the compliance cost for taxpayers. So, for such NMS cases, taxpayers need not visit the income tax office.

And to further get access to their case, taxpayers need to the visit their e-filing account and can further check the details under the Compliance portal. And the procedure to submit the response can be cleared through the user guide and FAQs under the "Resources" Menu on Compliance Portal.

For the AY 2018-19, non-income tax return filers need to assess their liability and and file the Income Tax Returns (ITR) or submit online response within 21 days.

GoodReturns.in

Read more about: income tax cbdt income tax return
Story first published: Wednesday, January 23, 2019, 12:53 [IST]
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