Dear Experts,
I received a notification from Income Tax Department that "There is a mismatch in information as per your ITR and as reported by Third Party."...
Under my ID on https://incometaxindiaefiling.gov.in, I see an issue been reported as "Value of property transferred as reported in AIR is higher than the value of property transferred as reported in ITR."
With the descripttion "The value of property transferred during the year as reported in the AIR return filed by the Sub Registrar office, is higher than the Full value of consideration adopted as per section 50C of Capital Gains as declared in the Captial gains Schedule of Return of Income."
Under the section "Mismatch related information"... I see these details: -
Row 1: Income Tax Return, ITR-2, Full value of consideration adopted as per section 50C for the purpose of Capital Gains from sale of land or building or both (Schedule CG-Long Term Capital Gain), Value as INR 46,00,000/-
Row 2: AIR, 61A, Sale of immovable property reported in AIR (AIR-007), Value as INR 46,00,000/-
Row 3: AIR, 61A, Sale of immovable property reported in AIR (AIR-007), Value of INR 46,00,000/-
My question: -
- What's the discrepancy? I see all three figures having same value.
- How to remediate this situation and submit my response?
Please help! Many thanks.
CAclubindia
