Business

Income mismatch in AIS, ITR - 68,000 cases picked up for e-verification

As many as 68,000 cases have been picked up for e-verification by the income tax department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday.

New Delhi | As many as 68,000 cases have been picked up for e-verification by the income tax department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday. Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial transaction and the I-T returns filed. The taxpayer can reply to the tax department giving explanation for the mismatch or can file updated returns if they feel the mismatch flagged in e-verification notice is correct.

Last US-Russian nuclear pact is about to expire, ending half-century of arms control

Israel strikes Gaza, killing 21 including women and children, after saying Hamas violated deal

President rule revoked in Manipur hours before new govt takes oath

Agriculture, dairy sectors completely protected in trade deal with US: Goyal

Trump administration presses efforts to ensure supply of critical minerals outside of China