Time Limit to submit online response under e-campaing tab on Compliance Portal.

The Income Tax Department is started an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from Monday, the 20th of July, 2020. The 11 days campaign ending on 31st July, 2020 focuses on the assessees/taxpayers who are either non-filers or have discrepancies/deficiency in their returns for the FY 2018-19.

The objective of the e-campaign is to facilitate taxpayers to validate online their tax/financial transaction information available with the I-T Department, especially for the assessees for FY 2018-19 and promote voluntary compliance, so that they do not get into notice and scrutiny process etc.

Thanking you for your cooperation & giving me your valuable time & advice.

You are most welcome, sir

But what to do if we forget to show that transactions I have also received the same message. in my case due to loss in capital gain I did not show these transactions but on portal it department is taking only sale value of shares not taking buy value or according they are taking full amount as a gain

Sir, in this case it's advisable to revised your Income tax return and required to show capital gain/ loss on sale of shares ( with sale value as shown in portal and purchase value as per your record) and capital loss in revised return.

Ok sagar. thanks but if I revised my return then there would be chance to come my case under scrutiny

But if you don't revise than also it's change to come the notice of scrutiny as there is a difference in IT database and your return.

As in your case it's loss which you are not reported So, there is no addition of any income if notice will come (in future you can explain non disclosure to AO if notice come)

So, You can choose not to revise return and and not to take any action at compliance portal also.