Personal Finance News
2 min read | Updated on March 11, 2024, 11:40 IST
SUMMARY
The e-campaign aims to inform persons and entities of significant financial transactions through email and SMS, requesting them to correctly compute their advance tax liability and deposit the due advance on or before March 15, 2024.
This is an initiative by IT Department towards easing compliance for taxpayers
The Income Tax Department has launched an e-campaign for Advance Tax for the financial year (FY) 2023-24.
"The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. To increase transparency and to promote voluntary tax compliance, this information is reflected in the Annual Information Statement (AIS) module and is available to persons/entities for viewing. The value of 'significant transactions' in the AIS has been used for carrying out this analysis," the IT department said in a statement.
The e-campaign aims to inform persons and entities of significant financial transactions through email and SMS, requesting them to correctly compute their advance tax liability and deposit the due advance on or before March 15, 2024.
Taxpayers can view details of such transactions by logging into their e-filing website and going to the compliance portal. The 'e-Campaign' tab on the portal will show the significant transactions, if any.
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