File I-T returns within 21 days, CBDT tells non-filers

The Central Board of Direct Taxes (CBDT) has identified non-filers through non-filers monitoring system (NMS) by using data analytics.

The Central Board of Direct Taxes (CBDT) has identified non-filers through non-filers monitoring system (NMS) by using data analytics.
 
It has asked the non-filers to assess their tax liability for assessment year (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," said Ministry of Finance in a release on Tuesday. 
 
Data analysis was carried out to identify non-filers about whom specific information was available in the database of the income tax department. 
 
"Data analysis has identified several potential non-filers who have carried out high value transactions in the Financial Year 2017-18 but have still not filed Income Tax Return for Assessment Year 2018-19 (relating to FY 2017-18)," said the statement. 
 
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. 
 
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," said Ministry of Finance.
 
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. 
 
 

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