CBDT is a statutory authority functioning under Central Board of Revenue Act, 1963.Individuals who have not filed their income tax returns (ITR) for assessment year 2018-19 should do same within 21 days to avoid proceedings under Income Tax Act, news agency IANS (Indo-Asian News service) reported citing a government statement.
The Central Board of Direct Taxes (CBDT) had identified through Non-filers Monitoring System several potential non-filers who had carried out high value transactions in FY18 but had still not filed returns, report added.
CBDT is a statutory authority functioning under Central Board of Revenue Act, 1963.
The officials of board in their ex-officio capacity function as a Division of Ministry dealing with matters relating to levy and collection of direct taxes.1.CBDT carried out an analysis to identify non-filers about whom specific information was available in its database of Income Tax Department.2.
"Non-filers are requested to assess their tax liability for assessment year 2018-19 and file ITR or submit online response within 21 days," CBDT said in statement.3.
"If explanation offered is found to be satisfactory, matters will be closed online.
However, in cases where no return is filed or no response is received, initiation of proceedings under Income-tax Act, 1961 will be considered," it added.4.
It reiterated that there was no need to visit any Income Tax office for submitting a response as entire process can be completed online.5.
Taxpayers can access information related to their case from compliance portal' accessible through e-filing portal- incometaxindiaefiling.Gov.In.