E-Campaign Compliance Portal - High Value information not in line with Income Tax Return Filled - Income Tax

sk_1122 (NA) (134 Points)
Replied 29 March 2021

Please respond. Same query I also have

CA Raj Doshi (Practising CA) (8799 Points)
Replied 29 March 2021

1. You will have to file revised return before 31st March 2021 in case of incomes not reported in original ITR.
2. The information needs to be validated and appropriate response is to be submitted once the Line of action is advised.

Check your inbox.

Pankaj Shukla (4 Points)
Replied 29 March 2021

Same msg I also got but in compliance portal , in e-campaign there is no information.

Yakub Bel (4 Points)
Replied 29 March 2021

IT WAS THE SAME FOR ME, BUT REFLECTED AFTER ONE DAY. TRY CHECKING AFTER A DAY OR SO

aditya (manager) (22 Points)
Replied 29 March 2021

Hi Raj Doshi,

Even I have got such a message from income tax, kindly let me know what has to be done.

1)file revised returns and don't reply to e-campaign information confirming the same.

2) file revised return and then validate that the information is true.

3)just validate the information and the authorities would adjust my refund in line with the additional income and my refund amount would be adjusted accordingly.

iluvkittens1 (2 Points)
Replied 29 March 2021

I also got same message. I checked that there are actual interest credits in my account from FD which are yet to mature. What do I do now? Respond in compliance portal? File revised return? Kindly respond. It is not very clear

nikita dhuri (3 Points)
Replied 29 March 2021

I have a similar query as puli Bala though mine is slightly different. In my case some of the entries of interest from TD in compliance portal are duplicate and were already part of form 26AS which I had considered (I had added the amount as IFOS) while filing ITR in Aug 2020. My query is- once I submit response to e-campaign compliance, what is the next step since I have already filed ITR for AY 2020-21 and it has already been processed by IT dept. (also to add that I had revised my ITR before for AY 2020-21 since some income and investment details were not added in my original return for the same period)

Constantine (VP) (24 Points)
Replied 29 March 2021

Received similar notice. Form 26AS doesn't have the details, so i may need to re-file the returns. Tried to re-file and there is interest u/s 234b and 234c getting calculated. And it seems to be on the higher side. Any help if that can be exempted or corrected while filing the returns ?

Swapnil (Others) (30 Points)
Replied 29 March 2021

If the ITR Is already processed long back certifying no payment due, can they send such enquiries and force to file the revised return?

CA PARTH SHAH (In Practice) (1951 Points)
Replied 29 March 2021

Hi,

You will have to book income on accrual basis and file the revise return before 31.03.21. Also reply in e campaign that you have filed the revised return.

CA PARTH SHAH (In Practice) (1951 Points)
Replied 29 March 2021

Hi,

You will have to book income on accrual basis and file the revise return before 31.03.21. Also reply in e campaign that you have filed the revised return.

CA PARTH SHAH (In Practice) (1951 Points)
Replied 29 March 2021

Yes. They can ask you to revise the return even after your ITR is processed and no demand was raised at the time of processing of the return as your original return was process based on the information filled by you in the ITR as well as the information available in form 26AS at the time of Filing of ITR. However Department is using various AI tools to find revenue leakage and hence they are sending you such notice once they find that some income is escaped.

Anil Wagh (2 Points)
Replied 30 March 2021

I have just got a SMS stating that "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). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on 'Compliance Portal' link under 'My Account' or 'Compliance' tab - ITD".

I have checked in Compliance Portal. It seems interest income from Savings Account/TD close to 75k from all bank accounts. It it not shown during return filing. Now what to do..can I only submit compliance response ...or need to fill revised return

Constantine (VP) (24 Points)
Replied 30 March 2021

Any idea how do we file on accrual basis ? Is this diff from the revise returns ? and does filing on accrual basis wouldnt calculate interest u/s 234b and 234c ?