Income-Tax Department implements e-verification to address ITR 'mismatches'. Here's what to do

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Income Tax (I-T) Department has introduced on-screen functionality on the compliance portal of its e-filing website to address "mismatch" in information from third parties compared to taxpayers' I-T Returns (ITR), it said on February 26. The I-T Department said it has identified discrepancies in the information received from third parties regarding interest and dividend income when compared to taxpayers' ITR. Notably, some taxpayers have not filed their ITR, it added.

Also Read | Income Tax: 5 high-value cash transactions may attract I-T notice The on-screen functionality can be found on the Compliance portal of the e-filing website here where details for mismatches for FY2021-22 and FY2022-23 have been made available. Taxpayers will be informed about the mismatches through SMS and emails based on the details available with the Department. The release added that this is a communication to taxpayers and not a notice.

Also Read | Income Tax: Investing the equity proceeds in ELSS before March 31 will save you tax. 5 key provisions explained Registered users on the e-filing website can directly access the Compliance portal by logging into their accounts. Mismatch details are found under the “e-Verification" tab.

For those not registered, the “Register" button on the e-filing website allows them to sign up. After successful registration, users can log in and navigate to the Compliance portal to view mismatches. The on-screen functionality is user-friendly and allows taxpayers to reconcile mismatches directly on the portal without the need for additional documents.