The Income Tax Department Receives information from various sources such as CDSL/ NSDL, RTA, Banks, SEBI, CBIC, MoMSME, CDAL, etc. through its data partnerships.
Using the e-campaign tab of the income tax compliance portal, the Income Tax Department seeks feedback on these data points from the taxpayer. The ITD usually contacts the taxpayer via e-Mails, SMS, phone calls, notices, and letters to visit the income tax compliance portal and submit the response against the identified issue.
E-campaign was carried out to verify the data relating to the taxpayers’ financial transactions, which would include their TCS (tax collected at source), TDS (tax deducted at source), Statement of Financial Transactions (SFT), foreign remittances, exports, imports, and transactions in mutual funds, commodities, securities, and derivatives.
The taxpayers are expected to get an SMS of the e-campaign in the case:
- If you have not filed your Income Tax Return
- If you have discrepancies/deficiencies in your Income Tax Returns
Even in situations where an income tax return has been correctly filed and processed, on receiving such an intimation, the taxpayer should provide feedback.
A discrepancy may not always lead that you have concealed information; it may instead be the result of an AIS error, which should have been reported to the IT department in the form of feedback. The options for feedback are mentioned under the e-Campaign option on the income tax Compliance Portal home page.
Steps to access and submit a response on the e-compliance portal
- Login to Income Tax Portal
Login to incometax.gov.in using your PAN/Aadhaar and OTP/password. Navigate to ‘Pending Actions’ > ‘Compliance Portal’ > E-Campaign (AY)
- Select the relevant e-campaign
Choose the relevant Assessment year, select e-campaign and click on ‘Provide Feedback in AIS’
- Select the Information Category
The information for which you would have received communication would be marked with an ‘e’ (suggesting expected feedback).
- Select the Transactions
The transactions for which the feedback is required would be marked as ‘Expected’. Taxpayers can provide Bulk Feedback as well for all transactions at once.
- Select the Response and Submit
Based on your response, select the most appropriate option from the following:
– Information is correct
– Income is not taxable
– Information is not fully correct
– Information relates to other PAN/year
– Information is duplicate/included in other displayed information
– Information is denied
Categories for which the taxpayer’s response is expected under e-campaign:
- preliminary Response
- Feedback on Information on AIS
Preliminary Response
Under the “Preliminary Response,” section a taxpayer is required to answer pertinent questions. A preliminary response will enable the tax department to resolve queries and avoid any future notice and scrutiny. The queries under this section are related to campaign-type non-filing of returns and certain high-value transactions.
For instance, The taxpayer is required to respond whether or not an income tax return has been filed for the campaign type “Non-Filing of Income Tax Return.”
While submitting feedback, additional details are required to fill in for the following categories
1. ITR has been filed:
- Acknowledgment number file for relevant AY
- Date of ITR filing
- Select the mode of ITR filing (i.e. if it is E-filed)
- Enter the circle/ward and city of the taxpayer (Not required if E-filed)
- Remarks (If any, it’s optional)
2. ITR has not been filed:
- Select the reason for not filing the ITR
- Remarks for not filing ITR
Feedback on Information on AIS (Annual Information Statement)
Taxpayers have access to all of their AIS feedback except for the feedback that states, “Information is correct,” through the AIS Consolidated Feedback file (ACF). The AIS Handbook from ITD states that the taxpayer can view AIS information and provide the following types of responses to the information.
- Information is correct
- Information is not fully correct
- Information relates to other PAN/Year
- Information is duplicate / included in other information
- Information is denied
The feedback options will be available for each Information detail. You can only choose one of the available choices for your feedback.
High transaction value can get you an Income Tax Notice
It is advised that taxpayers should report all transactions to the income tax department. The failure to mention such transactions in Income Tax Returns (ITR) filing may result in a notice from the authorities.
The IT Department has partnerships with various government agencies to obtain the financial records of people who engage in high-value transactions but do not disclose them when filing their taxes. The ITD sends email and SMS alerts about the non-disclosure of high-value transactions linked to a PAN number in an effort to encourage voluntary compliance and avoid issuing the notice and scrutiny of taxpayers as part of its online campaign.
List of some transactions in your 26AS/ AIS due to which you may receive a notice from ITD:
1. Fixed deposits:
The maximum cash deposit into a bank FD is Rs 10 lakh. The Central Board of Direct Taxes (CBDT) has announced that banks must disclose if a customer’s individual deposits in one or more fixed deposits exceed the established limit.
2. Saving and current bank deposits:
Every transaction that exceeds Rs. 10 lakhs in a savings account and Rs. 50 lakh in a current account during a financial year is to be reported to the IT department.
3. Purchase or sale of immovable property
Any purchase or sale of the immovable property for Rs 30 lakh or more must be disclosed by the property registrar to the tax authorities. You must report the purchase/sale of the property on Form No. 26AS. The Income Tax Department will be keeping an eye on you if you buy or sell a property for more than Rs 30 lakh.
4. Foreign currency:
If any foreign remittance for any travel purpose exceeds Rs. 2 Lakhs needs to be reported in your ITR, whether it came from a debit card, credit card, insurance of a traveler’s check, or any other instruments.
FAQs
The identified non-filers are informed by SMS, e-mails, and letters in batches. In case a notice is issued, the assessee can view detailed information on the income tax e-Filing portal by logging into the account. You can also file a response on the portal.
You can view the notice and post a reply in the section “View and Submit Compliance.” Under the ‘View and Submit Compliance’ tab, you will find a “Filing of Income Tax return” option through which you can provide the response related to ITRs. You can either choose: ‘ITR has been filed’ or ‘ITR has not been filed’.
In case, no response is received within 30 days of the issue of this intimation, the return of income will be processed after making necessary adjustment(s) u/s 143(1)(a) of Income Tax Act, 1961 without providing any further opportunities in this matter.
This query is for my father. He received SMS from IT Dept which said “Based on available information with IT Dept. It appears that you were required to file ITR for AY 2022-23 (FY 2021-22)… Please file your ITR or submit online response under e-Campaign tab on Compliance portal”.
On logging in to Compliance portal, I see option to provide feedback in AIS (Annual Information Statement). On the “Annual Information Statement” page, under SFT information tab, there is one item for “Purchase of immovable property”, which requires a feedback.
This property was jointly purchased by my father and me in Jan 2022 (FY2021-22). I am confused as to what feedback to provide for this (please see screenshot).
This item shows correct transaction date which is registration date of the property. It also lists “Transaction amount” which is the correct full value of the property. It also has “Transaction amount assigned” which has same value as “Transaction amount”. But, my father paid some partial amount (less than total value) as downpayment and rest was Home loan by myself. Do I need to edit this?
Transaction Type shows is Sell, but the property was purchased by us. Is the value correct or I need to correct it?
Property type is “Non agricultural land” which also seems incorrect as the purchased property is not land, it was apartment.
Should I select “Information is not fully correct” option by changing transaction amount or leave it as it is by marking “Information is correct”?
This is confusing. Please assist.
Hello @niks94,
Yes, you need to provide feedback on the e-compliance portal. Since there are some corrections required you can select the option as the information is partially correct and give feedback.
Since you and your father jointly own this property the amount of purchase consideration should be proportionately updated for his PAN.
You should update the transaction type as Buy. For taxation under capital gains property is divided between agricultural and non-agricultural land (and building appurtenant thereto) so that is fine.
The property was purchased in the previous year hence information shown is reflecting for the correct year and PAN.
Hope this helps!
@Bharti_Vasvani If you can help here?
Hello @mukul_aggarwal,
You can provide feedback as “Information is incorrect/ denied” if AIS is not reflecting actual data.
Hope this helps!
Hi @krishna123,
After submitting the feedback, nothing remains to be done at your end. For high value transactions, we recommend you to provide the feedback soon.
Hope this helps!
Hi @krishna123,
It is not mandatory to update the return after submitting Feedback. But, if you have additional income to be reported you need to update the return.
Hope this clarifies!
Hello @Rajat,
Though your mother and brother have not paid anything towards the purchase of the property, their names have been included in the sales deed, hence the information reflecting in their AIS for the 1/3rd amount of the property.
You can provide feedback as to the information related to other PANs and enter your PAN and assign the amount to 0 and give feedback accordingly in your AIS as well.
Hope this helps!
thankyou so much for the advice.
Hey @Barry_Allen1336,
The feedback type selected by you is correct.
You can further enter the correct value of property for stamp duty. Moreover, then, you will have to enter the amount of down payment you have made under “transaction amount” and “transaction amount assigned”.
Hope this helps!
Hello @neisal_mehta,
You can give the feedback that the “Information relates to another PAN”, and enter the details of your father’s PAN.
Hope this helps!