Income tax department picks up 68k cases for e-verification

A move that helps taxpayers revise their annual filings within the stipulated three-year window.

The whole exercise is to point out gaps that may exist and help taxpayers update their returns and reduce litigation.

Once an assessee files updated returns, there are less chances of his case being picked up for scrutiny or re-assessment.

 So far, 15 lakh updated returns have been filed with Rs 1,250 crore collected as tax.

An exercise that matches data in the Annual Information Statement on transactions and the returns filed — nearly 56% or 35,000 cases have been resolved satisfactorily.

Several taxpayers have not responded to the department’s communication, which is to be responded to within 10 days.

The e-verification scheme is a non-intrusive way to nudge taxpayers to file updated returns in case of mismatch.