By The Income Tax Department has initiated a campaign to notify taxpayers via email and SMS if their tax payments for the current fiscal year do not align with their financial transactions. This campaign, titled Advance Tax e-Campaign AY 2024-25, aims to alert individuals or entities about significant financial transactions and encourage them to accurately calculate their advance tax liability. The deadline for paying advance tax, which is March 15, has been emphasized.
The Central Board of Direct Taxes (CBDT) has provided specific information to the Income Tax Department regarding financial transactions conducted by taxpayers during the fiscal year 2023-24. This information enables the department to identify non-compliant taxpayers who may have incorrectly paid their taxes for the fiscal year 2023-24 (AY 2024-25). This analysis covers both individual taxpayers and organizations.
This initiative is part of the Income Tax Department’s efforts to enhance taxpayer services and streamline compliance processes. The department receives data on various financial transactions from multiple sources, which is then integrated into the annual information declaration module to promote voluntary tax compliance. Taxpayers can access this data, including details of significant transactions, through their e-filing accounts on the compliance portal.
To view important transaction details, taxpayers must log in to their e-filing accounts and navigate to the E-Campaign tab on the compliance portal. Individuals or entities who are not yet registered on the e-filing website must complete the registration process to access this information. This transparency initiative aims to facilitate better tax compliance and improve overall taxpayer services.
