The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance with advance tax payments for the Financial Year 2023-24. This campaign targets individuals and entities engaged in significant financial transactions, urging them to accurately compute and deposit their advance tax liabilities by the deadline of March 15, 2024.
Identification of Taxpayers for the Campaign
Utilizing information gathered on specific financial transactions during the fiscal year, the Income Tax Department has identified individuals and entities whose tax payments do not align with their financial activities. This discrepancy has prompted the launch of the e-campaign to notify and educate such taxpayers on their advance tax obligations.
Objectives of the e-Campaign
The primary objective of the e-campaign, termed “Advance Tax e-Campaign-Significant Transactions for A.Y. 2024-25,” is to inform and remind taxpayers of their advance tax responsibilities. Through personalized email and SMS notifications, taxpayers will be prompted to accurately assess their advance tax liabilities and ensure timely payment by the stipulated deadline.
Accessing Information on Significant Transactions
Taxpayers can access details of their significant financial transactions through the Annual Information Statement (AIS) module on the Income Tax Department’s Compliance Portal. This transparency initiative allows taxpayers to review and verify the information related to their financial activities, facilitating voluntary tax compliance.
Registration and Access to the e-Filing Portal
Individuals and entities not yet registered on the e-filing website are encouraged to register promptly to avail themselves of the campaign’s benefits. Registration can be completed by clicking the “Register” button on the e-filing website and providing the necessary details. Once registered, taxpayers can log in to their e-filing accounts and access the Compliance Portal to view significant transactions through the dedicated e-Campaign tab.
Enhancing Taxpayer Services
This e-campaign reflects the Income Tax Department’s commitment to easing compliance procedures for taxpayers while enhancing the efficiency and transparency of tax administration. By leveraging digital communication channels and providing access to pertinent information, the Department aims to foster greater taxpayer awareness and voluntary compliance.
This initiative underscores the Government’s dedication to promoting a culture of tax compliance and strengthening taxpayer services for the benefit of all stakeholders.
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Ministry of Finance
Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24
Through e-campaign, persons/entities carrying out significant financial transactions will be informed through email/SMS to urge them to compute and deposit their due advance tax on or before 15.03.2024
Posted On: 10 MAR 2024
The Income Tax Department has received certain information on specific financial transactions undertaken by persons/entities during Financial Year(F.Y.) 2023-24. On the basis of analysis of the taxes paid so far during the current financial year, the Department has identified such persons/entities where payment of taxes for F.Y. 2023-24(A.Y. 2024-25) is not commensurate with the financial transactions made by the persons/entities concerned, during the said period.
Hence, as a part of taxpayer service initiative, the Department is undertaking an e-campaign, which aims to intimate such persons/entities of significant financial transactions, through email (marked as Advance Tax e-Campaign-Significant Transactions for A.Y. 2024-25) and SMS, urging them to compute their advance tax liability correctly and deposit the due advance tax on or before 15.03.2024.
The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. To increase transparency and to promote voluntary tax compliance, this information is reflected in the Annual Information Statement (AIS) module and is available to the persons/entities for viewing. The value of ‘Significant Transactions’ in the AIS has been used for carrying out this analysis.
For viewing the details of significant transactions, the persons/entities can login to their e-filing account (if already created) and go to the Compliance Portal. On this portal, e-Campaign tab can be accessed to view significant transactions.
Persons/entities who are not registered on the e-filing website have to first register themselves on the e-filing website. For registration, the ‘Register’ button on the e-filing website can be clicked and the relevant details can be provided therein. After successful registration, the e-filing account can be logged into and the Compliance portal can be accessed to view significant transactions through the e-Campaign tab.
This is another initiative of the Department towards easing compliance for taxpayers and reinforce its commitment towards enhancing taxpayer services.
