Information mismatch campaign from ITD

[Surbhi_Pal]

Have you also received an e-mail like this from the Income Tax Department?

A communication regarding Information mismatch campaign for FY: 2022-23 has been sent vide DIN INSIGHT/VER/02/2023-24/10 for your response. Please login to the Compliance portal to view the details of the Information mismatch and submit your response….

On 24th February 2024, the Income Tax Department sent a mass communication to several taxpayers. This communication was sent as part of their “information mismatch campaign" for FY 2022-23 and FY 2021-22.

Who has received these notices?

Any taxpayer whose reported income in the ITR does not match the information in the AIS has been sent the above communication.

What should I do if I have received this email?

You first need to navigate to the e-compliance portal. You can follow the below steps:

• Login to e-Filing portal by using your login credentials.
• Navigate to Pending Actions > Compliance Portal.
• On the e-Compliance Portal home page, navigate to ‘e-Verification’ tab.

Here, you’ll be able to see a screen similar to this,

If you disagree with the difference/mismatch, you can provide a feedback and an explanation on the same.

However, if you agree, you are required to file an updated return, which is ITR-U.

In this case, you need to tick the checkboxes at the bottom of the page and file an updated return for the relevant FY at the earliest.

Mismatch received for reporting interest income under wrong sub-heads?

Income from dividends, interest income, etc. should be reported under Schedule OS (income from other sources) in the ITR under the respective line items.

In many cases, taxpayers have reported interest income under the line item ‘others’ of Schedule OS instead of ‘interest income’ line item.

Hence, the ITD had issued a mismatch notification to these taxpayers. Later on, the ITD issued a clarification on this which mentions,

In case the taxpayer has disclosed the interest income in the ITR under the line item ‘Others’ in the Schedule OS, he/she need not respond to the mismatch pertaining to the interest income. The said mismatch shall be resolved on its own and will be reflected in the portal as 'Completed’.

So, if the mismatch in your AIS is due to the above reason, you need not take any action from your end. For all other reasons, you need to follow the steps we mentioned earlier in this thread.

[A_K_Lalla]

I have received a information mismatch communication for fy 22-23 to the effect that interest on deposit as reflected in AIS &as reported in ITR Is not matching.However the amount shown as mismatch is the taxable interest on PF accumulations which is already reflected in OS schedule of ITR2 at B(bv) &is not interest on deposits. Options in drop down menu on compliance portal do not contain such explanation provision.How to respond please advise.

[Surbhi_Pal]

Hi @A_K_Lalla,

@Surbhi_Pal

In many cases, taxpayers have reported interest income under the line item ‘others’ of Schedule OS instead of ‘interest income’ line item.

Hence, the ITD had issued a mismatch notification to these taxpayers. Later on, the ITD issued a clarification on this which mentions,

In case the taxpayer has disclosed the interest income in the ITR under the line item ‘Others’ in the Schedule OS, he/she need not respond to the mismatch pertaining to the interest income. The said mismatch shall be resolved on its own and will be reflected in the portal as 'Completed’.

So, if the mismatch in your AIS is due to the above reason, you need not take any action from your end. For all other reasons, you need to follow the steps we mentioned earlier in this thread.

Hope this clarifies!

[priya_makhija]

mine is other post office fd interest i showed in bank interest column this option is not there

[Surbhi_Pal]

Hey @priya_makhija,

This seems to be an issue of misreporting which does not result into under-reporting of income. Hence, you can file a rectification and report the income under the right sub-heads.