Received SMS from I-T department? Here's what it means
What's the story
The Income Tax (I-T) Department has issued a clarification regarding the recent SMS and email communications sent to taxpayers. The department said these messages are related to transactions reported by various entities concerning the taxpayers. The purpose of these communications is to inform them about transaction details reported by various entities throughout the year, as per several reporting entities.
Advisory purpose
Communications aim to bridge disclosure gaps
The I-T Department has clarified that these communications are only advisory in nature. They are sent when there is a major gap between the disclosures made in the Income Tax Return (ITR) and information received from reporting entities. The department said, "Taxpayers may please note that such communication is to facilitate the taxpayers & make them aware of the information available with the ITD regarding transactions reported by Reporting Entities during the year."
Correction opportunity
Objective is to provide opportunity for voluntary correction
The I-T Department further clarified that the purpose of these communications is to give taxpayers an opportunity for voluntary correction. This can be done by reviewing their Annual Information Statement (AIS), providing online feedback through the Income Tax Department's Compliance Portal, and revising already filed returns or filing belated ones if not done so far. The department said, "The objective of the communication is to provide an opportunity to taxpayers for voluntary correction."
Compliance deadline
Deadline for revising or filing belated return
The I-T Department has also reminded taxpayers that the last date for revising or filing a belated return for AY 2025-26 is December 31, 2025. "Taxpayers are requested to respond promptly via Compliance Portal if discrepancies exist or ignore if your filing is correct," the department said. This reminder comes as part of their effort to ensure compliance and accuracy in tax filings among taxpayers.