How to correctly respond for Expected entry in AIS - eCampaign?

Notification 1643 views 13 replies

Dear Experts.

I have received an SMS asking me to submit Expected Response under compliance portal. Response is expected for some of teh FD interest entries

The entries are correct, but the total FD interest was already included as single lumsum amount in the Interest from Other Sources column in ITR. The ITR was filed before due date for FY20-21 and processed with no refund no demand.

I am a bit confused what happens now. Should I select Information is correct as bulk response? But then what happens next?

The fact is that the info is correct but the data is already included in my filed ITR as income from other sources. So there's no income tax due per say. 

Thanks

Replies (13)
Submit the response stating that details are correct

Dear Sir.

Thanks for your reply. However, I have a tough time understanding this Expected response thing. Info is correct and matching with my Form26AS. The thing is when I say info is correct does it mean they will consider as missing data in my ITR and ask me to revise my ITR? But there's nothing to revise. What does Info is correct mean, TaxPayer is correct or IT Dept is correct?

 because all header entries under FD interest from 26as match in my ITR. I have declared everything in my ITR under TDS and accounted for it my Income from Other sources!

The irony is that they are asking for Expected response for literally amounts like 100! Are these high value transactions and not all, just some random entries from AIS or 26as 

Today if I feel like donating to a beggar on street, I simply donate RS 100 bill at a time rather than miserable 10RS coin! I at least want that poor person to feel good for sometime that at least he is able to eat proper food like some roti sabji in that 100 rs rather than miserable vadapav worth 10rs

God knows what Nandan Nilekani has done!

I contacted Helpdesk and the person said he can not comment what option I choose. I can choose from any one.

The email starts with notification that the 

The Income Tax Department has identified following high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2021-22 (relating to FY 2020-21):

 
So my worry is that they might consider Info is correct as They are Correct. and ask me refile return which would be meaingless because everything is declared upto accuracy of 1 Rupee!
Communicate the same through your response on compliance portal

I got a similar message the other day, for FY 20-21. And this is long after I filed the return and even got the refund.

In my case too, most of the "high value" transactions were dividends of Rs 32 and Rs 120 and such. On the face of it, it seems like the information is correct.

But I did notice two things (other than the "high value" ridiculousness);

A. Some of the entries are grouped by reporting entity (e.g. Cams or Karvy) rather than the actual security or fund house. 

B. Some of the entries are incomplete, in that out of 12 actual SIP purchase transactions, only 10 are listed.

So firstly, they expect taxpayers to know all this information and then expect us to put in time and effort to reconcile everything that isn't clear or complete?

Now I'm inclined to just ignore this and not provide a response at all.

Does anyone know what they might do if I ignore? Do they even know?

Dear Experts.

I have submitted my response. I selected Info is correct wherever it matches with what I have filed and is also in accordance with actuals that I have entered in ITR. That’s how its almost all cases.

Only in one case they identified PPF interest as other interest or something which I declared as Not Taxable as it is.Now after entering all responses, the main page shows overall status as Submitted in Green color. But now what happens next is the question? That’s unclear. It would be perplexed if they ask me to refile return, because original had no errors and it has been processed with no demand no refund.

Are they going to do a second round of same return processing now based on what I have submitted?No one knows now, not even helpdesk. Such info is simply missing in manuals and documentations. This is disappointing! Even youtube videos don't address this part clearly. Thanks and regards.

Better you file the return with the available details since today is the last date

I have already filed my return 100% correctly in Aug-21. It was processed with no refund no demand in Nov-21.

The 33 Rs Interest credit by Central Bank has been identified as High Value transaction by IT Dept.

I think the esssence of my question is not yet understood on this forum!

 

I request Mods to simply delete this thread. It's digressing from the original query

Try to cut shot your query .

I called a CA firm in my area requesting them to provide guidance on this matter. While I have not visited them yet, it was just a cold preliminary call.

I felt that the person who spoke on phone was lacking conviction and confidence. It seems they are also not clearly aware. I better simply forget this for now until IT dept comes up with yet another ridiculous intimation! Then I will see what to do next! However there's no way I will file my return again as then I decalre that earlier was wrong, but it was not. It's accurate up to even 1 Rupee.

 

 

Send a mail to cmcpc_support @ insight.gov.in. Atleast they should know their systems are screwed up!

Well I am returning to this forum after a while. Just to share further experiance (pathetic of course)

1. The status that was Green, (Submitted) today became Partially Submitted. Well I don't know why. However I selected all rows even those that were optional and submitted all Optional as well. Now Expected + Optional 100% of rows are submitted with feedback. Still the Status shows Partially Submitted

2. I had raised a ticket which is closed without any resolution

3. When I try to raise a ticket to specify this issue it says Server Not Found and does nothing

4. I rated the site 1 out of 5 and the Submit Button is  greyed out. It enabled only at 2 out of 5 rating.

Yet another pathetic, hopeless and waste of taxpayers money initialtive. There are millions out there in India who evade taxes and never get caught & these stupid IT Dept is running after me (An honest taxpayer since 1999) for 33 Rs Interest as High Value Transaction demanding feedback.

Does anyone have any idea who is the ultimate Accountable Person for all this? Is it the Finance Minister or who?

 

 


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