Updated ITR Filing Deadline: Income Tax Departments E-Verification Scheme

The Income Tax Department of India has issued a notice urging taxpayers to file updated income tax returns (ITRs) for the assessment year 2021-22 by March 31, 2024. This applies to individuals whose cases have been flagged under the e-verification scheme due to mismatches or missing information.

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Discrepancies in Filed ITRs

The Central Board of Direct Taxes (CBDT) has identified discrepancies between the information filed in ITRs for the assessment year 2021-22 and the financial transaction details available with the department. These discrepancies include mismatches in income, expenses, and other financial data.

Non-Filers and High-Value Transactions

In cases where taxpayers have not filed their ITRs for the assessment year 2021-22 and the department possesses information about specified high-value financial transactions, they are also required to examine and file updated returns.

E-Verification Scheme and Communication

As part of the e-Verification Scheme-2021, the department is sending communications to taxpayers via their registered email accounts. These communications highlight the mismatches and discrepancies in the information provided in their ITRs.

Accessing AIS and Filing Updated Returns

Taxpayers are advised to access their Annual Information Statement (AIS) through the e-filing portal of the Income Tax Department. By reviewing the AIS, they can identify any discrepancies and file updated ITRs (ITR-U) if necessary. Non-filers who are eligible can also submit updated returns using the ITR-U form.

Deadline for Filing Updated Returns

The last date for filing updated returns (ITR-U) for the assessment year 2021-22 (financial year 2020-21) is March 31, 2024. Taxpayers are urged to comply with this deadline to avoid any penalties or complications.

The Income Tax Department's notice serves as a reminder for taxpayers to ensure accuracy and completeness in their income tax returns. By filing updated returns and addressing any discrepancies, taxpayers can fulfill their tax obligations and avoid potential legal consequences.