The Income Tax Department has introduced on-screen function on the Compliance Portal of the e-filing website. According to the department, its purpose is to remove the disparity between third party information and income tax returns regarding interest and dividends. The tax department says that in many cases taxpayers have not even filed their ITR.
The Income Tax Department has introduced on-screen function on the Compliance Portal of the e-filing website. According to the department, its purpose is to remove the disparity between third party information and income tax returns regarding interest and dividends. The tax department says that in many cases taxpayers have not even filed their ITR.
How to access onscreen functions
For taxpayers who are already registered on the e-filing website, a direct path to the compliance portal is available after logging into their account. The error can be seen under the ‘e-Verification’ tab. Those who are not registered on e-filing, they should go to the website and click on the ‘Register’ button and after that they will have to fill the necessary information. After registration, users can log in to their e-filing accounts. After this, they can access the compliance portal and correct the errors.
No documents required
The onscreen functions within the Compliance Portal do not require any additional documentation. Taxpayers can correct the errors on the portal through their responses. The department says that the purpose of this initiative is to provide opportunities to taxpayers to rectify the irregularities.
Interest income issue
Taxpayers who have already disclosed their interest income in the ‘Others’ item in Schedule OS of their ITR are not required to respond to the interest income related error. The system will automatically correct this error and it will appear as ‘Complete’ in the portal.
Option to update returns also
For taxpayers who are not able to respond to the errors, the option to update the income tax return is also available, if they are eligible. It also provides an opportunity to correct errors in underreporting of income.
