CBDT identifies non-filers
(who enter into high value transactions and have potential tax liabilities but
have still not filed their tax returns ) through Non-filers Monitoring
System(NMS) by using Data Analytics (sourcing information from SFT statements, TDS/TCS
statements, foreign remittances details etc); Data analysis has identified
several potential non-filers who have carried out high value transactions in
Financial Year 2017-18 but have still not filed Income Tax Return for
Assessment Year 2018-19; Enables e-verification of these NMS cases, states that
Taxpayers can access information related to their case from the ‘Compliance
portal’ which is accessible through the e-filing portal of the Department,
re-iterates that "there is no need to visit any Income Tax office for
submitting response"; Requires non-filers to assess their tax liability
for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response
within 21 days; States that upon satisfactory explanation, matters will be
closed online, however, in cases where no return is filed or no response
Subscribe to:
Post Comments (Atom)
Draft Income-tax Rules, 2026 - Key changes and brief overview
The Central Board of Direct Taxes (‘CBDT’) has released the Draft Income-tax Rules, 2026, along with accompanying Draft Forms, to operatio...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
01. No change in Income Tax rates, surcharge & cess. 02. Income tax Act 2025 effective from April 1, 2026. 03. Old regime tax ...
-
The Central Board of Direct Taxes (CBDT) released the Draft Income Tax Rules, 2026 on February 7, 2026. It has invited suggestions and opi...
-
01. The present employer contribution is restricted to 12%. 02. In the proposal the 12% limit removed 03. It means employer contri...
-
The posting had been move to another website. Please click the link below to get the access of the same. https://taxofindia.wordpress....
-
At first glance, DGFT Public Notice No. 42/2025-26 appears to be a mundane update—just three new fields to populate on the electronic ...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
In a recent and noteworthy ruling, the Hon’ble Delhi Income Tax Appellate Tribunal has provided important clarity on the scope of appellat...
-
In a significant ruling that provides relief to taxpayers and clarifies the scope of the Goods and Services Tax (GST) law, the Nagpur Benc...
-
COMMON ERRORS OF GST PORTAL. 1. Error Code- 404- No documents found Error Category / Form- Download File request Error Massage – ...
No comments:
Post a Comment