IT department identifies mismatches in ITRs, urges taxpayers to e-verify their status

The Income Tax Department on Monday said that it has found "mismatches" between the information received from the third parties on interest and dividend income and the Income Tax Return (ITR) filed by taxpayers.

In a statement, the Ministry of Finance said that on-screen functionality had been made available on the e-filing website https://eportal.incometax.gov.in for taxpayers to provide their responses.

"At present, the information mismatches relating to Financial Years 2021-22 and 2022-23 have been displayed on the Compliance portal. The taxpayers are also being made aware of the mismatch through SMS and emails as per details available with the Department," a press release on PIB said.

The government said that the on-screen functionality is self-contained and will allow the taxpayers to reconcile the mismatch on the portal itself by furnishing their response.

"No document is required to be furnished. This is a proactive step taken by the Department to reach out to the taxpayers and provide them with an opportunity to respond to the communication in a structured manner. It is clarified that the said communication is not a notice," it added.

If the taxpayer has disclosed the interest income in the ITR under ‘Others’ in the Schedule OS, s/he doesn't need to respond to the mismatch about the interest income. "The said mismatch shall be resolved on its own and will be reflected in the portal as ‘completed’," the release said.

The taxpayers who are unable to explain the mismatch may consider filing an updated ITR if eligible, to rectify any underreporting of income.

How to view mismatches on an e-filing portal?

Registered taxpayers on the e-filing website can go to the compliance portal after logging into their account. Details of mismatches will be available under the ‘e-Verification’ tab.

Unregistered taxpayers on the e-filing website have to first register to view the mismatch. "For registration, the 'Register' button on the e-filing website can be clicked and the relevant details can be provided therein. After successful registration, the e-filing account can be logged into and the Compliance portal can be navigated to view the mismatches," the release on PIB said.