High value transactions IT query

When you receive an "e-Campaign" notification regarding high-value transactions, it is generally a facilitative reminder to ensure your Income Tax Return (ITR) is accurate, rather than a formal scrutiny notice. Since you have already filed a revised return incorporating the omitted transactions, you have effectively addressed the underlying issue.

How to Handle the e-Campaign Response

The e-Campaign portal is designed to allow you to provide feedback on your ITR filing status. Since you have already filed a revised return, you should update the compliance portal to reflect this:

1. Log in: Go to the Income Tax e-Filing portal.

2. Navigate to the Portal: Go to Pending Actions > Compliance Portal > e-Campaign.

3. Provide Response: Select the relevant financial year and the specific e-campaign. Look for the "Provide Response" or "Provide feedback on AIS" section.

4. Select Filing Status: Even if a specific "Revised Return Filed" button is missing, look for the option labeled "ITR has been filed."

   • Once you select this, you will typically be prompted to provide details like the Acknowledgement Number, Date of Filing, and Mode of Filing.

   • By entering the details of your revised return (the latest one filed), you are informing the department that the transactions have been accounted for.

5. Submit: Once these details are submitted, the department’s systems will eventually reconcile your filing against the reported transactions.

Key Considerations

• Don't Panic: If you have already filed the revised return and included the income, you have complied with the requirement to report the transactions. The e-Campaign is simply a nudge to help you avoid discrepancies.

• Reconciliation: Ensure that the income/transactions reported in your revised return precisely match or exceed the values flagged in the AIS (Annual Information Statement).

• Verification: If you have already fulfilled the requirement of filing the return with the correct information, sometimes no further action is strictly required. However, providing the acknowledgement details in the portal is best practice to close the "open" status of the e-campaign.

Summary: Since you have already filed a revised return, you should log in to the Compliance Portal, select "ITR has been filed," and provide the acknowledgement number and filing details of your latest revised return to update the department's records.

How to Reply E-campaign Notice

This video provides a practical walkthrough on how to navigate the Income Tax e-Campaign portal and submit your response effectively.