Annual Information Return(Air)2: Filing Of Income Tax Return – Asst Year – – How To Handle Notice Received For Non
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< >Centralised Processing 'Cell Compliance' Management
The Income Tax Department has set up a major data centre Centralised Processing 'CellCompliance' Management which is in line with existing two such centres Central Processing Centre, Bangalore and TDS Centralised Processing Cell which will have dedicated workforce, drawn from the department, to identify tax evaders.
The CPCCM is an ambitious project of Direct Central Board Taxes aimed at enabling the 'I T' department to use technical data to check cases of noncompliance and nonfilers of taxes.
The 'CPC CM' will have the Permanent entire database Account Number, reports generated by financial snoop agencies and the full assortment of letters and notices issued to 'non compliant' taxpayers, their replies and the final action in the new centre.
The department had initiated the business intelligence project in February 2013 to identify PAN holders who have not filed their returns and about whom specific information was available in its databases like the Annual Information Return, Central Information Branch data or TDS/TCS returns.
Below are a lot of the information's collected by compliance management cell through AIR, CIB and TDS return for which notice is now served to non filer.
Note. Details so transactions in TDS/TCS can be views in income tax website under menu view Credit Statement in My Account The Non filers Monitoring System under Compliance Management Cell, New Delhi, was implemented as a pilot project to prioritize action on 'nonfilers' with potential tax liabilities.
The 'Nonfilers' Monitoring System was implemented to identify nonfilers with potential tax liabilities.
How to deal with notice received for Non Filing of Income Tax Return. First you ought to understand why you have received notice, Therefore if you get a notice for nonfiling of income tax return from compliance management cell. After logging into your account on the e filing portal at http. ITD.
The taxpayer can choose among the following response options. If the taxpayer chooses the option that ITR is filed then it need to provide filing mode the ITR, date of filing the ITR and the acknowledgement number. Actually the status might be automatically updated, in case the ITR is e filed.
If the taxpayer chooses the option that it has not filed the ITR then it needs to choose amid the following options.
Use the registered yourself link to register your PAN, So in case you are not registered with the efiling portal. The response has to be submitted electronically by clicking Compliance link after logging into the 'efiling' portal. Date of filing return, Acknowledgment Number and Circle or Ward and City, So in case income tax return already filed update the details similar to Mode of Filing.
Please update the details like Return under preparation or Business had been closed or No taxable Income or Others.
Please proved remarks, So in case you select the options others.
Make sure that you reply correctly, or there arefor the most part there're chances of department asking for further information. It is also advisable to compute tax liability if due, pay tax and file income tax return before submitting your response. Department may select your case for scrutiny and send you notice u/s 148 of income Tax act for further investigation, I'd say in case you chose option no taxable income without explaining proper source of income for 'high value' transaction.
If a person makes huge or 'highvalue' transactions there arethere're chances of getting a notice for non Filing of Income Tax Return from compliance Management cell.
It doesn't necessarily mean that income tax department is looking at you as a tax evader. You should be rich agriculturist deposited cash more than 1000 Lakh into your savings visa card or you should be NRI having invested huge money in Land and end up in getting a notice for 'non filing' of return. If there ismostly there's no taxable income than either you are liable to pay tax nor file income tax return, Don't worry. On top of that, you are only requested to furnish your response in the compliance module on the filing portal at http. Oftentimes use the registered yourself link to register, I'd say in case you are not registered with the 'e filing' portal. The response has to be submitted electronically by clicking Compliance link after logging into efiling portal.
If you don't submit a response within the prescribe limit CPCCM may send information available with them to concerned assessing officer. I know that the assessing officer if he has reason to think that any income chargeable to tax has escaped assessment, he may take up your case for scrutiny and assess tax liability subject to other income provisions tax, with the available information. In such case, you may end up in paying tax liability together with interest and penalty.
Can i respond to it and file the return.
Do i need to pay interest as well with tax. Is there any penalty. Please suggest You must file income tax return for the FY '2013 14' (AY '2014 before' submitting compliance, thereafter submit compliance by selecting option return filed and provide acknowledge number date of filing.
Hi, thanks for responding. Its the related information tab thats bothering me. Anyways, tDS 192A, there isthere's just self option. AIR05 refer to Investment of Rs. Keep reading. You don't need to file income tax return, if you don't have taxable income for those years and/ or investment is made out of your earlier savings or from exempt income. Now let me tell you something. Just login to your account in eportal and submit your response by choosing appropriate field. That's where it starts getting really interesting. Details are already discussed in the article.
Please refer to an answer provided to a query Can I file return more than 2 year in the website Forum section.
Read. Transfer of capital assets where value declared for stamp purpose duty is more than sale value As per income Tax Act, Guidance value used for calculating stamp duty could be considered as sales consideration. It is advisable to consult tax export and discharge tax liability of any and file return before submitting your response in compliance module.