Ei Samay: Did you file your income tax return properly? If you made any mistakes, you must update and submit it by December 31.
Oh, that was submitted long ago. The verification was completed, and the email came. Even the refund money was credited to the account about three months ago. Why are these questions coming up now?
The question is arising because many people like you and me have received an email notification for the past couple of weeks. Many ignored it, thinking it was spam or fraudulent mail. Many others didn't even see it because those who help them file returns – the mail is hidden in the crowd of their inbox. Maybe you didn't see the email. The income tax authorities have also requested citizens via SMS to submit revised returns by December 31.
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We did everything according to rules, which is why the verification and refund emails came earlier. Then why did this email come?
Those who have seen it and those who haven't, please check the inbox of the registered email ID for income tax returns (or mobile message box) immediately. You will see a subject line of an email that reads, 'ITR Action required by 31st December. We have identified a significant mismatch….' Opening this email, you will see it has come from the Income Tax Compliance Department. It states that there are some procedural errors (mismatches) in your return filing. Therefore, you are requested to correct and submit it by December 31, 2025.
Once the return verification came, why is there a mismatch again?
This matter may initially disturb you. Is this email some kind of phishing-ransomware mail sent by hackers? I see they have also provided a link to click.
It's not possible to guarantee that no one has received such emails from hackers or will receive them. However, the income tax authorities have also acknowledged that they have sent this email to several taxpayers. The reason has been clearly explained in the email itself. You don't need to click any link to see or understand it. The CBDT has informed that this message has been sent under the 'Non-Intrusive Usage of Data to Guide and Enable (NUDGE) Campaign'.
Scroll down a bit in the email. You will see that the income tax authorities' e-verification unit has clearly informed under the heading 'Details of Mismatch' about which 'error' requires you to update and resubmit your return.
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If you can understand it yourself, then there's nothing to say. But if you can't understand, then seek help from the person who assisted you in filing the return. They will certainly understand where the problem lies. Then enter the income tax department's portal and submit the revised return in the same way you submitted the online form earlier, and 'e-verify' it – that's your responsibility.
Don't think that the last day for filing income tax returns has passed. So do you have to file the return with a fine this time?
The income tax authorities are saying that, except for submitting additional outstanding tax due to your calculation errors or calculating returns outside income tax rules, they are not imposing any other penalty for returns submitted by December 31. What will happen after that will be considered later.
The Income Tax authorities have also given some examples of what kind of errors occurred in returns. For instance, some people donated to Registered Unrecognised Political Parties (RUPP) but claimed tax exemption for it. Or they took such deductions that are not available under income tax law, or their deduction proof didn't match the TDS certificates. These need to be corrected, and the return resubmitted. Again, in many cases, it has been seen that the return filer wrote the wrong PAN/TAN number of the entity to whom the donation was made.
If you can't figure out what's wrong, carefully examine your AIS-TIS, Form 24AS-TDS certificates along with the return or show them to an expert. The problem will be resolved.
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However, chartered accountants advise submitting the return within the deadline. Their advice is that if you receive this email (or SMS), examine it carefully and take action by December 31. Otherwise, if you have to file later, you'll have to submit an updated return in 'ITR-U' form with an additional 25% tax on undisclosed income. So, the sooner the better.
Haven't you hidden cryptocurrency investment income?
Ei Samay: You invested in cryptocurrency and have already brought home the profit. However, even though the profit came home, you didn't mention it when filing your income tax return. In such cases, the income tax department authorities can send you a letter. This has reportedly already begun, according to sources. News agency reports state that income tax department officials are tracking foreign investment and earnings figures. They are also sending letters to taxpayers when necessary. The Finance Ministry recently announced that more than 44,000 taxpayers have been identified for not disclosing Virtual Digital Asset (VDA) transaction information during income tax return filing. Tax collection from this sector is also increasing. Some experts claim that to reduce potential risks under the Foreign Exchange Management Act (FEMA) and Black Money Act, cryptocurrency investment figures should be disclosed during income tax return filing.
