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

Quick Summary
The Income Tax Department is sending out notices via SMS and the e-Campaign portal regarding 'high-value information' that doesn't align with filed Income Tax Returns for AY 2020-21. This often relates to unreported interest income from savings accounts or fixed deposits. If you receive such a notice, you should check your Compliance Portal for details. It's generally advised to validate the information, potentially file a revised Income Tax Return (ITR) by the deadline (often March 31st), and respond on the e-Campaign portal to confirm the action taken.

You need to request Commissioner u/s 119(2)(b) of the Income tax Act 1961 to condone delay in filing revised return. Once permission is received, you need to file revised return with accrued Interest Income. Since you have already received the refund, CPC will issue intimation u/s 143(1) and raise demand in the intimation as you would have received excess refund. You can pay the outstanding demand raised and the matter will be solved. 

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