Income Tax verification begins, 11 lakh e-tax notices on way
The first set of notices are being sent by newly incepted CenVC at the I-T Department to non-filers who have made a financial transaction but haven’t filed its ITR.
Scanning around 11 lakh cases of non-filing the Income Tax Return (ITR), the newly incepted Centralised Verification Centre (CenVC) at the Income Tax Department is going to send e-tax notices to the non-filers of the ITR. As per the CenVC officials, the first set of e-tax notices will be sent under 133-C of the Income Tax Act, notified in the second fortnight of March 2019.
“The first set of notices are being sent to the non-filers who have made a financial transaction but haven’t filed their tax returns. A large number of these cases are from the demonetisation period. If we don’t get any response, the cases would be referred to the assessing officer for scrutiny,” a source was quoted saying by DNA.
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“Right now, the vetting is going on to eliminate the cases in which some kind of response has come. About 70,000 people had also filed income tax returns,” the source added.
The newly incepted department CenVC at the Income Tax office has been entrusted with the job to verify all the ITR filed by the Indian taxpayers. Till date, 6.44 crore people have filed their respective ITR. If a taxpayer who has already filed its ITR hasn't shown bank deposits, mutual fund investments or property transactions in its income tax return, he or she could soon be getting a tax notice by the CenVC to pay up.
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