The tax department said in a notification issued on Saturday that it will start an 11-day e-campaign starting from 20 July to reach out to those taxpayers who have done a high-value transaction in the financial year (FY) 2018-19 but have not filed the income tax return. Also, those who have filed the tax return but the high-value transaction conducted by them is not in line with the tax return filed, they will be given an option to rectify their tax returns. The 11-day campaign will end on 31 July, 2020, the last date for filing the income tax return for FY 2018-19.
This campaign is started to promote voluntary compliance so that the taxpayers who haven’t filed return or have filed incorrect return, don’t face any notice or scrutiny, said the tax department.
Using data analytics, the tax department has processed the data received from various sources such as a statement of financial transactions (SFT) filed by various agencies such as banks, mutual funds etc, tax deduction at source (TDS), tax collection at source (TCS), foreign remittances (Form 15CC) statements etc to gather information about taxpayers who are liable to file tax returns but haven’t filed
