Tax department sets 21-day deadline for non-filers
- Team registrationADVISER
- Jan 23, 2019
- 1 min read
NEW DELHI: The income tax department has identified several potential non-filers, who have carried out high value transactions in 2017-18, but have not filed tax returns. The department has urged these non-filers to file returns or submit online response within 21 days.
"If the explanation offered is found to be satisfactory, matters will be closed online. However, in cases where no return is filed or no response is received, initiation of proceedings under the Income-tax Act, 1961 will be considered, " the finance ministry said in a statement.
The department has enabled e-verification of these NMS (non--filers monitoring system) 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," the ministry said.
Taxpayers can access information related to their cases from the 'compliance portal', which is accessible through the e-filing portal of the department at 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 as record. For the benefit of taxpayers, an user guide has provided under the "resources" menu on the compliance Portal. 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.
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