CBDT has notified e-Verification Scheme, 2021 on 13th December 2021. Presently data pertaining to FY 2019-20 is under verification. CBDT has sought cooperation of the deductors in the successful implementation of the Scheme.
Presently data pertaining to FY 2019-20 is under verification.
With the help of various e-statements i.e. SFT/TDS/TCS filed , the information of financial transactions of taxpayers is gathered, collated and is made available electronically to the taxpayer through the Annual Information Statement (AIS).
Taxpayer is now facilitated to raise an objection to a transaction reported through the AIS. In case of an information which is objected to by the taxpayer, To resolve such issues, a quick electronic response is needed to the communication sent under the e-Verification Scheme, 2021.
The deductors have been requested by CPC(TDS) to avail the PAN authentication facility to help you report correct PAN in the transactions reported. (https://incometaxindia.gov.in/Pages/tax-services/online-pan-verification.aspx)
1. Information gathered from Source/ Reporting Entity is pushed to taxpayer for viewing in AIS and taxpayer can raise an objection if he/she believes that the transaction is incorrectly attributed to the taxpayer (fully/partially).
2. Commissioner of Income Tax (e-Verification) [henceforth referred as CIT(e-V)] pushes the disputed information back at the Source/ Reporting Entity for confirmation.
In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…
Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…
SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…