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Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24

in Business, National March 10, 2024 Comments Off on Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24 603 Views

Newdelhi:10/3/24:The Income Tax Department has received certain information on specific financial transactions undertaken by persons/entities during Financial Year(F.Y.) 2023-24. Based on analysis of the taxes paid so far during the current financial year, the Department has identified persons/entities where payment of taxes for F.Y. 2023-24(A.Y. 2024-25) is not commensurate with the financial transactions made by the persons/entities concerned, during the said period.

Hence, as a part of the taxpayer service initiative, the Department is undertaking an e-campaign, which aims to intimate such persons/entities of significant financial transactions, through email (marked as Advance Tax e-Campaign-Significant Transactions for A.Y. 2024-25) and SMS, urging them to compute their advance tax liability correctly and deposit the due advance tax on or before 15.03.2024.

The Income Tax Department receives information on specified financial transactions of taxpayers from various sources. To increase transparency and promote voluntary tax compliance, this information is reflected in the Annual Information Statement (AIS) module and is available to persons/entities for viewing. The value of ‘Significant Transactions’ in the AIS has been used for carrying out this analysis.

For viewing the details of significant transactions, the persons/entities can log in to their e-filing account (if already created) and go to the Compliance Portal. On this portal, an e-Campaign tab can be accessed to view significant transactions.

Persons/entities who are not registered on the e-filing website have to first register themselves on the e-filing website. 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 accessed to view significant transactions through the e-Campaign tab.

This is another initiative of the Department toward easing compliance for taxpayers and reinforcing its commitment towards enhancing taxpayer services.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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