Income Tax: Income Tax Department has issued an alert for taxpayers, this work will have to be done before March 15...

The Income Tax Department has started sending emails and SMS to those taxpayers whose tax paid during the current financial year is not in accordance with their financial transactions. The department gave this information on Sunday. The department is running an e-campaign.

Why is the Income Tax Department sending alerts?
The campaign objective of the Income Tax Department is to inform such individuals/entities about important financial transactions through email (marked as Advance Tax e-Campaign-Important Transactions for Assessment Year 2024-25) and SMS, and ask them to It is requested to calculate the advance tax, pay the tax liability correctly and deposit the outstanding advance tax on or before March 15.

In a statement, the Central Board of Direct Taxes (CBDT) said that the Income Tax Department has received certain information on specific financial transactions undertaken by individuals/entities during the financial year 2023-24.

To whom is the SMS going?
"Based on the analysis of taxes paid so far during the current financial year, the department has identified individuals/entities whose taxes for the financial year 2023-24 (the assessment year 2024-25) are due to be paid by them," the CBDT said. "is not consistent with the financial transactions undertaken by."

It said that this is another initiative of the department towards strengthening its commitment to simplifying compliance for taxpayers and enhancing taxpayer services. The Income Tax Department obtains information about specified financial transactions of taxpayers from various sources.

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