NEW DELHI: The income tax department has sent SMSes to taxpayers on 29 March, related to mismatches between income tax returns (ITR) filed for FY2019-20 and high-value transaction. Three of the chartered accountants Mint spoke to confirmed that their clients have received such SMSes from the tax department. The SMS stated, “Attention xxxxxxxxxx (XXXXX5362X),The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). As per the Income Tax Department they have not disclosed their FD interest. “It is a good thing that the Income Tax Department is alerting the taxpayers.

Source: Mint March 31, 2021 06:45 UTC