The Ministry of Finance (MoF) on February 26, 2024, issued a notification regarding the Implementation of the e-Verification Scheme-2021.
The Income Tax Department has identified mismatches between third-party information on interest and dividend income, and the Income Tax Return (ITR) filed by taxpayers.
Taxpayers can respond to on-screen functionality on the Compliance portal of the e-filing website https://eportal.incometax.gov.in to reconcile mismatch.
In case the taxpayer has disclosed the interest income in the ITR under the line item ‘Others’ in the Schedule OS, s/he need not respond to the mismatch in the interest income. The said mismatch shall be resolved on its own and will be reflected in the portal as ‘Completed’.
Taxpayers are being informed of mismatch through SMS and emails as per details available with the Income Tax Department.
