Tax Professional Blogs

The Compliance portal, located on the Tax Department website, is intended to assist taxpayers in making sure that their Income Tax Returns (ITRs) are accurately completed and that they are complying with all applicable tax rules and regulations. This site, which is easily available to taxpayers at any time, provides extensive information that makes it easier for them to identify and correct any inconsistencies in their online returns. Certain instances of disparities found in the ITRs filed for the Assessment Year 2021–22 (Financial Year 2020–21) have recently come to the attention of the Income Tax Department. Official declarations state that differences, referred to as "mismatches," have been observed between the information contained in tax returns and the department's records pertaining to financial transactions.

The union government has extended the deadline for filing the ITR for the AY 2021-22. The last date for furnishing the ITR is 31st July 2022. Here are the IT provision for tax evaders and income tax non-filers about some legal services that is including such A person who knowingly attempts to avoid tax, penalties, or interest by wilfully underreporting income is punished under section 276C.