Introduction

The income-tax department has started to reach out to certain taxpayers who have either not filed income-tax returns (ITR) or failed to accurately report high-value transactions in their returns. Objective of the e-campaign is to facilitate taxpayers to validate their financial transaction information against information available with the IT department and promote voluntary compliance, especially for the assessee for the FY 2019-2020 (AY 2020-21) so that they do not need to get into notice and scrutiny process. Department has started sending SMS & Emails to such taxpayers about e-campaign on High Value Transactions on Compliance Portal.

Also Read- Submission of Response on High Value Transactions – FAQs

Launch of e-Campaign

The Income Tax Department has started an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers. The campaign ending on 31st March, 2021 focuses on the assessees/taxpayers who are either:-

1. Non-filers of Income Tax Return or

2. Have discrepancies/deficiency in their returns for the FY 2019-20.

SMS/Email from Income Tax on High Value Transaction under e-Campaign

Taxpayers have started receiving following SMS and Email:-

High Value Transactions e.g. Share Trading/Derivatives

“ Attention (XXXXX1111X), the Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal (My Account) – ITD “

 “ We appreciate that you have filed your Income Tax Return and contributed towards the progress of Nation. However, the Income Tax Department has received information on high value transactions relating to (XXXXX1111X) for Financial Year 2019-20. On the basis of data analysis, the Income Tax Department has identified following high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20) “

Non Reporting of Savings Bank Interest / FDR Interest in ITR

“ Attention RAM SINGH (XXXXX9999X),The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’  or ‘Compliance’ tab  – ITD “

High Value Cash Deposit

“ Dear GXXXXN SXXXH-  Income Tax Department has received information about Cash Deposit of 10100000 relating to XXXXX0444X in FY 2019-20. However, as per records available, ITR for AY 2020-21 has not been filed. Please file your ITR by 31.03.2021. You can view transaction details and submit response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal (My Account) – ITD “

What is the source of information for e-Campaign?

Under this e-campaign the Income Tax Department is sending email/sms to identified taxpayers to verify their financial transactions related information received by the I-T department from various sources such as Statement of Financial Transactions (SFT), Tax Deduction at Source (TDS), Tax Collection at Source (TCS), Foreign Remittances (Form 15CC) etc. The department has collected information related to GST, exports, imports and transactions in securities, derivatives, commodities and mutual funds under information triangulation set up.

Are you filling ITR without certain Incomes

What is Compliance Portal?

Compliance portal is the dedicated portal operationalized under Project Insight to enable e-verification (i.e. capture of response on specific compliance related issues in a structured manner) for effective compliance monitoring and evaluation. The Compliance portal also enables a seamless, secured two way structured communication to enhance the transparency and functional efficiency of the department.

How to login to Compliance Portal?

Step 1: Login to the e-filing portal by using the URL https://incometaxindiaefiling.gov.in/

Step 2: Click on the ‘Compliance Portal’ link available in “My Account” or “Compliance” tab.

Compliance Portal

Step 3: The user will be redirected to the compliance Portal.

login to Compliance Portal

Facing Issue regarding Email/SMS received but Non Display of Information in e-Campaign (i.e. Blank Data)

You are requested to raise grievance under Communication Category to “E-filing Website Team” on e-Nirvan (attach screenshot of SMS/Email & e-campaign window showing no data).

Response to Few Issued Faced by Taxpayers

1. Why I received SMS/Email even after processing of my ITR & intimation already received u/s.143(1)

> Information regarding High Value Transaction might be reported to Department after Processing of ITR. You are requested to file response to avoid Scrutiny Notice from Department.

2. Why ITR can be revised u/s.139(5) even after Processing of ITR?

> Yes , before the due date of filing of Revised ITR i.e. 31/03/2021 for FY 2019-20

3. Why Few FDRs Interest was not reported in Form 26AS, but reported in e-campaign?

> As TDS is not deducted on FDR Interest upto Rs.50,000, hence not reported in form 26AS. But reported to department through other sources/returns.

4. I have incurred loss in shares transactions, should I show these transactions in ITR?

> Yes, Reporting is mandatory in ITR

5. Can I File ITR (Belated or Revised) after 31/03/2021 in response to e-campaign?

> No, since it would be time barred

6. Why Savings Interest was not reported in form 26AS, but in e-campaign?

> As TDS is not deducted on Saving Account Interest, hence not reported in form 26AS. But reported to department through other sources/returns.

Functionalities under e-Campaign on Compliance Portal?

Under e-Campaign tab of Compliance Portal, information received from various sources related to the taxpayer is displayed for seeking feedback. The taxpayer is required to submit response on each information item to complete the process of submission of response. Following e- Campaign functionalities are available:

e-Campaign

e-Campaign on Compliance Portal

What is a Non-filing of return case?

A taxpayer who is having total income above the prescribed limit or fulfils any other condition mentioned in section 139 of the Income Tax Act 1961, is required to file return of income. Non-filers with potential tax liabilities are identified by analysing information received under Annual Information Return (AIR), Statement of Financial Transactions (SFT), Centralised Information Branch (CIB), TDS/TCS Statement, Securities Transaction Tax (STT) etc. and taxpayer profile.

How a Non-filing of return case is identified?

Non-filers with potential tax liabilities are identified by analysing information received under :-

√ Annual Information Return (AIR),

√ Statement of Financial Transactions (SFT),

√ Centralised Information Branch (CIB),

√ TDS/TCS Statement,

√ Securities Transaction Tax (STT) etc

Cases for e-verification are identified on the basis of scenarios and rules approved by the Central Board of Direct Taxes.

What is ‘Taxability of Transaction Relating to Sale of Immovable Property’?

In this response category, the taxpayer is required to give information about the taxability of amount relating to sale of immovable property. The taxpayer can enter relevant information in the following fields to arrive at Income/Gain/Loss with reference to such transaction.

a) Receipts related to above information

b) Stamp value at which property is registered

c) Value taken for computation of capital gains

d) Value relating to other year/PAN

e) Value covered in other information

f) Exemption/Deduction/Expenditure

g) Income/Gain/Loss

What is ‘Source of Funds’?

In this response category, the taxpayer is required to indicate source of deposit/investment/expenditure. If amount is from more than one category, the source of amount may be assigned under various categories in the sequence mentioned below, (Adopting other sequence may result in case being selected for verification based on risk criteria)

a) Out of earlier income or savings

b) Out of receipts exempt from tax

c) Received from identifiable persons (with PAN)

d) Received from identifiable persons (without PAN)

e) Received from un-identifiable persons

f) Others

What if I don’t Respond to Compliance Alert ?

Non/Wrong compliance with communication from Income Tax Department, may lead you to face Notice from income Tax Department regarding assessment/Penalty/Prosecution etc.

Compliance Alert

Response to reported Transaction

Under the e-campaign the taxpayers will be able to access details of their high value transaction related information on the designated portal. They will also be able to submit online response by selecting among any of these options:

(i) Information is correct,

(ii) Information is not fully correct,

(iii) Information related to other person/year,

(iv) Information is duplicate/included in other displayed information, and

(v) Information is denied.

Response to reported Transaction

There would be no need to visit any Income Tax office, as the response has to be submitted online.

How can taxpayer view the submitted response on each Information?

Step 1: Visit Compliance Portal at https://compliance.insight.gov.in or Login to the e-filing portal by using the URL https://incometaxindiaefiling.gov.in and Click on ‘Compliance Portal’ link available in “My Account” or “Compliance” tab.

Step 2: After successful login, click on ‘e-Campaign’ Tab available at home page of Compliance Portal to view Information Summary screen.

Step 3: Click on “Financial Year” under Significant Transactions/Non- Filing of Return/High Risk Transactions option (Whichever is applicable).

Step 4: Click on ‘Financial Year’ available under ‘e-Campaign –Information Confirmation’. (Applicable for non-filing of return).

Step 5: Click on “>” button to view information detail.

Step 6: Click on “View Response” button under Information detail.

A Pop-up window will appear displaying the details of response submitted by the taxpayer.

Can I check information being reported, but don’t file response ?

Taxpayer’s every action is being watched & reported in the form of different icons against each information being reported on compliance portal.

Can I check information being reported, but don’t file responseWhat to do along with Compliance Submission?

What to do along with Compliance Submission

In case you have not filed the ITR, then you may be required to file ITR.

In case you have filed ITR without certain incomes, then you may be required to file Revised ITR.

But both of them can be done, only if it is permissible within statutory due dates e.g. 30/09/2020 is due date for filing ITR of FY 2018-19 (AY 2019-2020).

Data-Sharing MOUs with various entities

After reading above article, you now must be thinking, how database of Income Tax is being built. CBDT is entering into various MOUs with SEBI, CBIC, MoMSME etc for exchange of information. Text of Press Release can be read from following links-

Press Release MoU between CBDT and MoMSME

https://taxguru.in/income-tax/cbdt-signs-mou-momsme-sharing-data.html

Press Release MoU between CBDT and CBIC

https://taxguru.in/income-tax/cbic-cbdt-sign-mou-facilitate-exchange-data.html

Memorandum of Understanding between CBDT and SEBI

https://taxguru.in/sebi/sebi-signs-mou-cbdt-share-data.html

Further , CBDT has launched new Form 26AS to enable taxpayer to view information available with Tax Department, as per following Press Release-

https://taxguru.in/income-tax/form-26as-faceless-hand-holding-taxpayers.html

Final Opportunity

Last date for filing (Belated) as well as revising the ITR for AY 2020-21 is 31st March 2021. The taxpayer must avail the opportunity to participate in the e-campaign for their own ease and benefit.

*****

Disclaimer: The contents of this article are for information purposes only and does not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

Article Contributed by: Author can be reached at [email protected] for any queries, issues & recommendations relating to article.

(Republished with amendments)

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350 Comments

  1. Surendra says:

    Hi Sagar Sir,

    I have done the file return for the assessment year 20-21 and forgot to pay the SB interest tax for the Rs 50,000/-. I got the high-value transaction email and I went into the e-campaign site and submitted the response as all information is correct. I forgot to revise return the file in the given window (May 30th, 2021).

    I come in a 30% tax slab. Shall I pay the self assesment tax of Rs 15,000/- for the assessment year 20-21? After paying, do I need to submit any response with paid challan on the income tax site?

    Please suggest and need your valuable feedback.

    Best, Surendra

  2. Ganesh says:

    Hello Sir, I responded to the compliance but.. Missed to file ITR Revision.. as of end of June… what is alternate procedure for this?. Thanks

  3. Rajinder Kumar says:

    Sir, I have deposited ten lakh cash in my saving bank account by mistake, which was received from my father’s side and this entry is showing in e-compaign in Income tax portal, what to do for this

  4. Akhil says:

    How can I submit a revised return for AY 20-21 as the deadline has passed. Basically, I noticed there was high value transaction response pending in Compliance Portal for not showing SB/FD Interest in original ITR filed. I have accepted the response in full and already made a payment of tax+interest. But need to submit revised return to let them know that I have actioned accordingly.

  5. Akhil says:

    How can I submit a revised return for AY 20-21 as the due date has passed. I noticed there was a high-value transaction response pending under the ‘e-campaign’ category of Compliance Portal. However,I never received any email/sms for this.

  6. Reetesh says:

    Dear sir,
    I had received a sms for SFT/high value transaction. my compliance portal show FDR interest income which are only incured but not received. and not shown in our 26AS also. How to treat this situation.

  7. Ankur Mishra says:

    Hello Sir

    I paid income tax(ITR1) for FY 19-20 then due to incorrect detail again filled revised ITR (ITR2).

    But then got msg from compliance for not showing interest on FD in return

    I submitted the response on compliance portal as information is correct.

    I didn’t show 34000 INR interest , I fall in 30 % tax slab .

    So as I submitted response on compliance portal do I need to revise my ITR and file it again.

    If yes which itr likeITR 1/2/3 ….and for the self assessment tax which option I need to select like challan number and all

    Thanks in Advance

  8. Ritesh says:

    Sagar Sir, I have faced similar problem like many others of this forum. As per my original ITR , I received 18000 rupees as refund. but I need to give back 14000 to IT department as I missed to include my SB interest in the original return. Please suggest if I need to display that 14000 rupees as self-assessment tax in the revised ITR ? In that case the ITR still shows (18000-14000) = 4000 as refund . Kindly suggest.

  9. DR RIA SHINOY says:

    please sir consider this

    ORIGINAL ITR REFUND RECIEVED 27000
    REVISED ITR TAX PAYBALE 28000.
    SHOULD I INCLUDE REFUND IN INCOME OR JUST PAY 28000

  10. Balaji says:

    Hello Sir
    Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021.
    I am in the process of filing revised return due to high value transaction (SB interest).
    I have added the interest amount in “other sources of income..
    I have to pay tax which shows Payable Tax column.
    My ITR was already processed and I received the refund. Where to enter the refund amount while filling the revised ITR.
    or
    I should pay the tax payable + refund amount ? Please advise.
    Thanks in advance

    1. Divya says:

      Hello, I too have exactly the same question. I had received refund amount from income tax dept for original returns filed . Now while filing revised returns for AY2020-2021 should we include the refund amount as additional income earned? The refund amount was recd. in the year 2021.

    2. Ravi says:

      I have similar question,

      I am in the process of filing revised return due to high value transaction (SB interest).
      I have added the interest amount in “other sources of income..
      I have to pay tax which shows in Payable Tax column.
      My ITR was already processed and I received the refund. Where to enter the refund amount while filling the revised ITR, or
      Should I pay the tax payable + refund amount ? Please advise.
      Thanks in advance

      1. CA Sagar Gambhir says:

        CONSIDER THIS EXAMPLE
        Refund amount as per original ITR:- 30K
        Tax on additional Income – 15K

        Tax paid as self assessment- 15K
        so new Revised ITR will also show refund of 30K, but you won’t receive as it has been already received.

  11. Balaji says:

    Hello Sir
    Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021.
    I am in the process of filing revised return due to high value transaction (SB interest).
    I have added the interest amount in “other sources of income..
    I have to pay tax which shows in Payable Tax column.
    My ITR was already processed and I received the refund. Where to enter the refund amount while filling the revised ITR, or
    Should I pay the tax payable + refund amount ? Please advise.
    Thanks in advance

  12. Kutty says:

    I’ve paid additional tax using self assessment tax option after receiving intimation of high value transaction compliance due to saving account bank interest. Now that the govt has extended due date for filing revised return, please let me know how to do it.

    In the income tax filing portal, under efile tab, for income tax return, on choosing AY as 20-21 and ITR1, I get option to choose filing type as “u/s 119 2 b – after condonation of delay” ONLY. The option “Original/Revised return” is not available. Please suggest how to proceed.

  13. Prince says:

    Hi,
    Thanks for the responses shared above.
    For a similar situation, I have already received a refund, revising the ITR just reduces the refund amount. How do I end up paying additional tax on the interest income and also revise the ITR.

    Just to explain the case, I’ve already received a refund of 30k. Now, I need to pay tax on interest income of 70k, which comes to around 21k tax. Problem is that the moment I pay the 21k tax as self assessment and link the chalian, then the revised ITR shows a new refund amount of 30-21=9k

      1. Abhijit says:

        For a similar situation, I have already received a refund, revising the ITR just reduces the refund amount. How do I end up paying additional tax on the interest income and also revise the ITR.

        Just to explain the case, I’ve already received a refund of 30k. Now, I need to pay tax on interest income of 50k, which comes to around 15k tax. Problem is that the moment I pay the 15k tax as self assessment and link the chalian, then the revised ITR shows a new refund amount of 30-15=15k

        1. CA Sagar Gambhir says:

          Refund amount as per original ITR:- 30K
          Tax on additional Income – 15K

          Tax paid as self assessment- 15K
          so new Revised ITR will also show refund of 30K, but you won’t receive as it has been already received.

      2. Manmeet Walia says:

        I have a similar issue. Please suggest what shall I do.
        Earlier I received a refund amount of 30k. Now after entering saving bank interest, refund amount is 20K. How to enter the amount which was already refunded so that I pay back only the differential.

        1. CA Sagar Gambhir says:

          Refund amount as per original ITR:- 30KTax on additional Income – 10K
          Tax paid as self assessment- 10Kso new Revised ITR will also show refund of 30K, but you won’t receive as it has been already received.

    1. Ritesh says:

      @Prince – I have faced the same problem. If you have resolved the issue at your end, could you please share the resolution.?

  14. ND says:

    Hello Sagar Sir,
    Thanks a ton for detailed article & answers to numerous queries by different individuals, it’s very helpful.
    I had also received e-campaign notice. I had responded same in Compliance portal, but couldn’t file revised return as last date was 31st March.
    Couple of questions:
    1. Should I wait for IT department to send me challan for balance tax in response of compliance acceptance?
    2. Do I need to pay interest under 234/B & 234/C – how do I calculate right amount for interest?

    Regards,
    ND

  15. Krishn says:

    I have received E-Campaign mail on 2nd April and last date for filing return is 31-March. Please suggest how can i submit revise return

    1. CA Kaustubh Pradhan says:

      Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021. So based on the information in e-campaign you can file a return if already not filed or can file a revised return if you have not correctly reported or not reported certain transactions as reported in the e-campaign.

  16. Naresh says:

    Hi Sir,

    I have SBI saving account, And SBI has created multiple e-STDR accounts. I have received interest from each e-STDR account and bank has already deducted TAX on interest. We have uploaded same (26AS) while filing ITR.

    Now I have received same interest as high value transaction. What should we respond here?

    I do not see any option, information correct and ITR filed,

  17. Karuna says:

    Hello Sir
    As we are now giving response for HIgh Value Transaction on compliance portal and will pay the wrong Refund received with interest and Tax Liabliity as SAT. is there any section while filing response where we can mention the challan details

  18. Vinay says:

    I have paid extra money for 143(1) demand. Will i get back the extra money paid ?

    Also after paying the Demand and accepting the information is correct , where should i update the payment Info like BSR code, Challan number ?

  19. chidambarasnathan says:

    sir, I have received such notice from ITD for E Compliance .The balance tax for such amount received interest from Salary account was paid through challan on 07.04.21. after that I try to e filing for revised ITR. but I was denied for submission due to late filing. What can i do for Revise E filing ?

    1. CA Kaustubh Pradhan says:

      Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021. So now you can file a revised return.

          1. Kutty says:

            I received high value transaction e compliance mail after the 31st March deadline.
            After paying self assessment tax, do I have to declare or file this somewhere? Or is it enough to just save the challan/receipt and keep it.

    1. CA Kaustubh Pradhan says:

      Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021. So you can file the revised return.

  20. lavanya says:

    I received notice regarding high value transaction interest on savings account and interest on FD. I have not disclosed such income in my return. Now while paying self assessment tax can I claim deduction of 10,000 u/s section 80TTA and do I need to pay interest also on self assessed tax payable.

  21. lavanya says:

    I received notice regarding high value transaction interest on savings account and interest on FD. I have not disclosed such income in my return. Now while paying self assessment tax can I claim deduction of 10,000 u/s section 80TTA and do I need to pay interest also on self assessed tax payable.

  22. chandra says:

    HELLO SIR.

    I Revised my ITR for 2020-21 for high value transaction ON 30th march.
    and now the activity/status showing as TAX CREDIT MATCHING PROCESS
    what is it?? please advise

  23. Sindhura says:

    Hi Sir,

    If we have an interest income from banks which is more than 60k in a year, do we need to pay tax only for 20k as upto 40k interest is exempted?
    Please advise. Is this applicable even for people falling in 20 or 30% slabs?

    1. CA Sagar Gambhir says:

      Interest is exempt upto 50,000 for senior citizen above 60 years.

      For all others, its taxable. Only relaxed from deduction of TDS, however tax to be paid in ITR

  24. LAKSHMINARAYAN VVN says:

    I received e-campaign high value transaction showing interest on FDR and Savings bank not shown. Out of 6 entries shown 4 were already shown in ITR and were already processed.
    Which option to exercise in compliance portal against interest on FDR which is already included in Computation ? When to pay tax on entries omitted? Since the last date for revised return is completed what is the recourse? please advise

    1. CA Sagar Gambhir says:

      1. Select option as correct (even if information already shown in ITR)

      2. Pay tax as self assessment tax online to avoid any penal consequences

      1. Ashish ranjan says:

        I have submitted the response for High Value Transaction. Amount in High Transaction Value is more than 50000 . If I choose to pay the balance tax amount, which challan should i user for the payment online ( it is challan no : 280 or challan no : 282)

    2. CA Kaustubh Pradhan says:

      Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021. So you can file the revised return.

  25. Amit Jain says:

    Dear Sir,
    I received msg for High Value Transaction for FD interest, I have filed the revised ITR before 31 March 2021.
    Still I need to submit the response on the compliance portal?
    If required which option need to select I have already submitted my all tax.

  26. Lokesh says:

    I did not show saving bank interest in my itr so i got high value transaction notice and i paid the tax and filed the revised return before 31st march 2021. My last 2 years ITR is processed successfully but I have some tax liabilities in my previous 2 years (around 1 – 2 L income for which tax was not paid). Is there any chance ITR will open my previous years ITR which are already processed because of the high value transaction notice. I want to pay taxes for my last 2 years so that my mind can be free but i am not getting any options to edit processed return, please answer and guide what should i do ?

      1. Lokesh says:

        Kindly pay the tax as self assessment tax for the relevant Assessment Year.

        For AY 19-20, How can I calculate amount ? suppose I am have extra amount of 207000 for which I did not pay tax and lets say i was supposed to pay 30% tax that would become 62100 so how much I have to pay ? any Interest (how would i calculate interest ?) any penalty ? How would I file ITR there is no option to file revise ITR for AY 19-20

  27. Pradeep says:

    Hello Sir,
    I paid Double the tax as I added both (1) and (2) interest as mentioned below.

    1) Total interest payable by a banking company (SPP) Account No: xxxx, Account Type: Time Deposit 2,824
    2) Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A)

    There was multiple entries of message type 1) but only single entry for message type 2).

    Number 2) was same as my 26As entry and I had already paid tax in original ITR filing.

    MISTAKE=> For 1) I thought these are additional interest which might not be reflecting in 26AS and Hence I have not paid taxes.
    And I paid additional tax in revised ITR filing.

    When I visited bank today, I was told that 1) is breakup and 2) Total interest.

    I made a mistake by PAYING DOUBLE tax on FDs. Kindly let me know how can I get back my tax that I paid by mistake.

  28. Maya Rawal says:

    महोदय, मुझको 2018-19 वित्तीय वर्ष हेतु, बचत खातों पर ब्याज हेतु एक मैसेज आया था जो ए एस पर अंकित नहीं था, उसी के अनुसार आयकर रिटर्न भरा, अंतिम तिथि 31-3-21 के बाद कल दिनांक 02-04-21 को ओनलाइन टेक्स 26110 भी जमा कर दिया
    पर फार्म अपडेट या रिवाईज्ड नहीं हो रहा है बताइये मै इसमें क्या करू, 26 ए एस मे पहले से अंकित धनराशि पर मै सदैव आयकर देती आई हूं, हम सदैव आपके और सरकार के साथ है,

  29. Sindhura Kv says:

    Hello Sir
    I had received SMS from IT dept for high value transactions and since i had some clarifications pending with bank, i could respond on complaince portal only today.
    However, i am unable to file the revised ITR
    please advise

    1. CA Kaustubh Pradhan says:

      Now CBDT has extended the last date of filing the revised return or belated returns till 31-May-2021. So you can file the revised return.

    1. CA Sagar Gambhir says:

      Response can be submitted even now, but ITR Can’t be revised now. Pay tax as self assessment tax online to avoid any penal consequences

  30. Mrinal says:

    I have received a email on 02.04.2021 for compliance of few interest on SB and FDs earned. But, as the last date was 31.03.2021, can I submit my revised return now.

      1. SUDHIR says:

        I ALREADY FILED INCOME TAX AND TAX HAS BEEN PAID. BUT AFTER E COMPAIGN HOW CAN PAY SELF ASSESSMENT TAX (HOW TO DECIDE HOW MUCH TO PAY)

  31. Venkat says:

    I am not sure what option I should select to respond. In case if the information showed in e-campaign portal is correct but I have already showed that income in IT returns what option should I select? Should I say information is correct or should I deny it since I have already filed for this interest income. Kindly someone clarify

  32. Kartik K says:

    I filed revised ITR to align with e-compliance report on 30th March’21. It got processed in no time, however department has charged 10000 fee under section 234F. I am wondering if this section is applicable for ITR revision? original ITR was filed well within time in month of September last year.

  33. laxmi says:

    Hello Sir,
    I received an email from as ITD has identified high-value information that does not appear to be in line with the ITR for assessment yr 20-21 on April 1st, 2021. So, the deadline of March 31, 2021 is already crossed by the time i got the communication. The transactions are related to SB deposits which were not reflected in Form 26 AS. How can i submit response and file Revised ITR now? I dont see option to file Revised ITR now in Income Tax Portal. Could you Please advice.

    1. CA Sagar Gambhir says:

      Response can be submitted even now, but ITR Can’t be revised now. Pay tax as self assessment tax online to avoid any penal consequences

  34. M Ghosh says:

    Income Tax sent this Message 2days or last day of month. How they cleared refund without scrutiny. At Least one month should be given for compliance.

  35. Nitin Jain says:

    Pls can anyone let me know the procudure to file revised ITR . as u/s 119(2)(b) or u/s 92CD. also as today being 1/4/21 .can we file revised iTR for assement year 2020-21

    1. swetha says:

      Hi, I have same question. should we use u/s 119(2)(b) or u/s 92CD. can we file revised iTR for assement year 2020-21 as today if April 02, 2021. Please help.

  36. Tushar Deshmukh says:

    Can i file reply (not reviseditr)on e compaign for the FY 2019-20 on 1st /2ndApril,2021 ,penalty will be charged?,site was not opening?

  37. Raj says:

    Sir, I got the message for high value transaction from saving/time deposit accounts. gone through this link and understood that I need to file revised ITR. but the incometax efilling portal is not working working. It appears so many users are in hurry to file the revised ones.
    I have already replied in compliance portal stating the saving backs interests as valid (option A).
    My queries are.
    1. If I am not able to fil revised ITR today, what will be impact. fine/penalty etc
    2. The interest from fixed deposit is not yet received, meaning it will be deposited after the fixed deposit tenure is completed. will the back deduct TDS again before depositing the principal+interest
    3. Can I include some deductions (e.g donations)which were not accounted earlier while filling the original ITR.

    Many thanks for your help and expert advice.

  38. Jayesh Hoondlani says:

    Hi, I had recevied an sms for High Transaction, and today i have refiled my ITR, as per correct other income , now what response should I select in ecampaign Information is correct ?

  39. Navdeep says:

    I have revised my itr as per details, i have shown my fdr interest under business head but now i have revised it under other source, so now i have to select which option for reply on ecampaign data is correct or denied or duplicate, please guide

  40. Bips says:

    Hi,
    I have received e-campaign notice just today. checked the information is partially correct and most of them are incorrect based on the future financial interest. Drop down is only having 2 option accept/ denied no option for partially correct and all. Please help how to proceed. Also there is no TDS certificate generated by Bank so its not showing on Trace portal. How we need to revise without TDS generated by bank (TDS2 ) section how can we fill manually when the information is not available to fill. Its a day away what will happen if we just failed to fill revised return coz the data is insufficient. Is there is any mail id where we can explain things and write down the details? Please your early response will be helpful.
    Thanks in advance.

  41. R Madkaikar says:

    I have saving account in 3/4 banks.The indivitual saving interest of each bank is less than 10K ( limit of 80TTA). This saving intrest is reflecting in e-camapign, Should I have to file revised ITR ? When is the last date ?Many bank calculates quarterly interest on saving account in moth of May ,Aug ,Nov & Feb of each year and credited to saving account . Hence it is difficult to check saving intrest reported by IT department unless I get bank certificate. but it is diffcult to get saving certificate in one day ,if revised ITR tobe submitted by 31-03-2021

  42. Rashmi says:

    Hello Sir,

    I have X amount entry in “Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A)” for which I have already filled tax.

    Do I need to select “E. Information is denied” or “A. Information is correct” option for it?

    If I select option A as info is correct then do I need to pay tax for it again?

    Please guide.

  43. Pankaj Shukla says:

    I have two entries in high value transaction:
    Income from derivatives transactions : this is basically all sell transaction done by me.
    Purchase of derivatives transaction: this is all buy transaction done by me

    This is correctly shown. My issue is that I have shown the exact profit in ITR from these transactions after deducting brokerage, stt. Transactions as such are not shown in ITR but profit computed is shown as per p&l statement.

    Then why are they sending sms for inconsistent return? and what to do?

  44. Anup J says:

    I have accepted and submitted response. Mostly it was about-
    1. Interest on savings bank account
    2. Interest on Time Deposit/FD
    What is the next step, it’s just showing submitted under high value transaction in compliance portal

  45. Guest says:

    I have received a email for e-Campaign – High Value Transactions for AY 2020-21 –

    • Total interest payable by a banking company (SPP)-80514
    • Interest other than ‘Interest on Securities’ received (TDS Form 26Q, Section 194A)-52044

    Based on this, what is the additional amount of tax that I need to file in the revised ITR ?
    Can you help in how do I calculate the tax amount that I need to pay as self assessment tax now ?

    I am not able to access the Compliance Portal, and the data in the portal is blank under eCampaign, when I log in from my efiling account.

    1. kcbhagat says:

      i received notice notice for bank intrest income 86000
      and 26 q under 194A 66000
      the amount rs 66000 is also included reflected in 86000 as 66000+4000+16000=86000
      please let me know how much tax i have to pay in revised return

  46. JSR says:

    Hi,

    Have received a notification regarding high value transaction for interest on SB account. In response, I submitted my response in the Compliance portal. Thereafter, I tried filing a revised ITR, but the online payment for additional tax due is repeatedly failing. I have tried multiple times with different banks but none of them are succeeding. Now because of this I am unable to submit my revised ITR. The last date is just a day away, and the payment is not going through. What can be done?

  47. Nina says:

    Dear Sir,
    I have received msg for High Value Transaction, I want to file for revised ITR and also submit the response on the compliance portal, but the compliance portal is not working.. Kindly suggest whether i can file the revised ITR first without submitting the compliance response since the compliance website is not working

      1. Vishal says:

        Sir, my ITR is processed and I received the refund amount on Dec 20, but now I got the message for High-value transactions, so while filing the revised ITR where I have to give the details of the amount which I received as a refund from IT?
        Thanks

        1. geetika says:

          I also filed ITR in Dec, got refund of the amount.
          But now got SMS for high value transaction. I have revised my ITR, but teher was no option of refund already paid .. how to correct it ?
          secondly: Do i need to respond to them
          Thirdly: Am I liable of 10,000 INR penalty?

  48. AK says:

    sir,
    i have received an email and sms regarding high value transactions from compliance website. i have revised and submitted ITR but presently the compliance website seems to have crashed and i havent been able to submit my response on compliance website as yet.
    is there a last date for submitting response on compliance website as well? or i may do it later?

  49. Ankesh says:

    I have same message. My ITR is processed and I got return back. Now I am adding the extra amount shown in compliance and its asking me for pay tax. My concern is now ITR not showing any thing related to return. Do I need to add that amount also

      1. Redbaron says:

        This is incorrect. From what I understand OP can pay outstanding tax and file revised return. When IT processes the return, they will raise a demand for excess refund return which can be returned separately later. In my case my refund amount has reduced by 10K after revising, so I will wait for ITR processing to complete and IT dept to ask me to return excess refund (with interest)

  50. chandan says:

    I received message regarding high value transactions yesterday.. these are basically interest earned from Bank deposit.. I have responded that the transactions are correct

    from previous comments I found that we need to revise ITR but while revising ITR what should be selected ?

    filed u/s or
    filed in response to notice u/s ?

    also which section to be selected ?

    Please reply as this info is useful for everyone reading this article

    Thanks in advance

  51. Nipun Gupta says:

    Hello Sir,

    I was able to see high value transactions regarding my FDs interests but I had already paid tax on that interest while filing ITR as income from other sources. What reponse I have to provide for those transactions in the compliance portal now?

    Also, from the morning I am not able to see the high value transactions in the portal. Is is showing blank now. Do let me know the next course of action.

    1. sanjay says:

      I have same query. if I choose first response option “information is correct” will it not be considered as un-reported income?

  52. sandeep kumar says:

    I have received high value transaction from income tax dept. On checking the compliance report, I can see that they have included sum (61k) and also individual entry for this amount in the sheet. however I have only received 61k from bank and same is mentioned in my TDS sheet and form 26.
    Also in the individual item, one item is showing a very high value of more than 2 lakh. i visited by bank and told them about it. they are yet to check and respond to me.
    What should i mark in the options given, either wrong entry or duplicate…also in my savings accoutn interet is 1238 . i think since it is below 10 K, i need not put in itr correct?

  53. D S MURTHY says:

    SIR
    My Date of birth is May 1960. for FY 2019-20 AY 2020*21, Am I a senior citizen category for claiming SB Account interest under 80TTB 50000, REQUEST YOUR HELP as revised ITR to file on 31st
    regards

  54. sandeep kumar says:

    I have received high value transaction from income tax dept. On checking the compliance report, I can see that they have included sum (61k) and also individual entry for this amount in the sheet. however I have only received 61k from bank and same is mentioned in my TDS sheet and form 26.
    Also in the individual item, one item is showing a very high value of more than 2 lakh. i visited by bank and told them about it. they are yet to check and respond to me.
    What should i mark in the options given, either wrong entry or duplicate…also in my savings accoutn interet is 1238 . i think since it is below 10 K, i need not put in itr correct?

  55. Malkhan Singh says:

    Hi,

    I have submitted revised ITR having details for High Value Transaction and verified via Aadhar.
    Please confirm if need to follow any further steps on Compliance Portal.

  56. Sheetal says:

    Sir,
    Just got a compliance notice on Sunday, 28 March 2021 regarding the high value transaction for bank interest income. I have submitted the response on the compliance portal by confirming the information.
    The March 31,2021 timeline for submitting the revised ITR for AY 20-21 seems to be tough as the notice is just received on 28 March.
    Should I wait until the department asks me to submit the revised ITR for AY 20-21?
    Is the timeline to file the revised tax returns likely to extend beyond 31st March 2021?

      1. Suman K sinha says:

        I got refund when I filed ITR. Now I got e-campaign SMS and looks like need to file revised ITR by including interest income which was missed earlier. I have to pay additional tax now. How will Income tax dept adjust the amount which they had refunded me earlier? Will my revised return have old refund added as well which I am supposed to pay back?

      2. Nasir says:

        Hi, I had also received the high value transaction for Saving bank account interest and total interest was 59000. I followed the steps and submitted the campaign and then I was asked to pay 21580 INR (36%) as tax again and then I revised ITR and paid online amount and got challan number. My CA charged 1500 to do this. Last date is 31/03/2021.

    1. Nasir says:

      Hi, I had also received the high value transaction for Saving bank account interest and total interest was 59000. I followed the steps and submitted the campaign and then I was asked to pay 21580 INR (36%) as tax again and then I revised ITR and paid online amount and got challan number. My CA charged 1500 to do this. Last date is 31/03/2021.

  57. BK says:

    Dear Sir,

    I received the sms yesterday regarding high value transaction, however it’s for the interest payable. Tax department should be concerned about interest paid as per law then why are they asking us to confirm interest payable in future.

  58. Sambit says:

    Sir, I have already received intimation from IT department before 3 months as no payment due..still I am receiving this high value transactions sms..basically interest income related..which is not matching per bank records..Please advise what to do..thx

    1. CA Sagar Gambhir says:

      Information regarding High Value Transaction might be reported to Department after Processing of ITR. You are requested to file response to avoid Scrutiny Notice from Department. Kindly reconcile with Bank Interest certificate and file response accordingly

  59. Kartik says:

    I too received the e-compliance notification. In my case report includes both total calculated by bank for FD interest and submitted under 194A in Form26, and also the individual component coming from different FD present with the bank. Thus total interest earned shown in report is more than twice the amount actually earned. Appreciate if you can suggest if I should mark “Individual components” Or one filed under 194A as Duplicate ? Is claimed denied a better response here or duplicate is fine ?

  60. Gouda says:

    Dear Sir,

    I too received message yesterday regarding e-campaign. I want to know whether during refiling itr document do we need to add closed FD accounts details as i saw closed accounts also part of e-campaign site.

    Any suggestions.

  61. Divanshu says:

    Sir, my ITR was processed and refund was issued to me for AY 2020-2021. Now in compliance portal it is showing savings bank interest from my different account which i had missed while filing ITR. Plz guide me through the process of filing revised ITR. How can I pay the remaining tax.

  62. Venkata Alekhya Gattupalli says:

    Hello Sir, I have also received the same message. Interest on savings account and interest on FDRs is reflecting in e-camapign, but why is the interest on my FDRs not reflecting in the 26AS, but showing in e-campaign.

    1. CA Sagar Gambhir says:

      As TDS is not deducted on Saving interest & FDR Interest upto Rs.50,000, hence not reported in form 26AS. But reported to department through other sources/returns

  63. Archita says:

    I have received high value transaction from income tax dept. On checking the compliance report, I can see that they have included sum (65k) and also individual entry for this amount in the sheet. This is showing as 130k as total due…however I have only received 65k from bank and same is mentioned in my TDS sheet and form 26.
    What should I do and which one of this should I mark as duplicate entry?? The individual amount or the sum 65k

    1. sandeep says:

      I have received high value transaction from income tax dept. On checking the compliance report, I can see that they have included sum (61k) and also individual entry for this amount in the sheet.however I have only received 65k from bank and same is mentioned in my TDS sheet and form 26.
      Also in the individual item, one item is showing a very high value of more than 2 lakh. i visited by bank and told them about it. they are yet to checka dn respond to me.
      What should i mark in the options given, either wrong entry or duplicate…also in my savings accoutn interet is 1238 . i think since it is below 10 K, i need not put in itr correct?

      1. sandeep says:

        Also what about a high value of interest as 2 lakh which is completely wrong as my interest for that FD is only about 13k. What should i put as response for that.

  64. Tejaswini says:

    This is a very helpful article. Found answers to my questions here. Thank you!
    I have also received this notification with 2 transactions in the High Value Transactions-Other Source Income category, however one transaction details seem to be incorrect because the account# is not mine. I can confidently select “Information is Denied” for this transaction isn’t it?

  65. Arvind says:

    Hello Sir, I have received many entries like below in compliance portal,

    1) Total interest payable by a banking company (SPP) 4732.0

    2) Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A) – 92305

    First one is an example for Time deposit interest and second one is for sum of all time deposit interest, What response needs to be selected in compliance portal for 2nd type of item. could you please help me through. Also note that income tax for such entries is disbursed already in ITR. Thanks in advance.

      1. Arvind says:

        Thank you sir for guidance. One more clarification/confirmation on the same. Need to select duplicate for the combined entry i.e Interest on Securities” received (TDS Form 26Q, Section 194A) or for multiple entries which sum up to the combined entry?

  66. LD says:

    Hi there –
    Very similar sms/email received. I got suprised when IT sent me message on the high value transaction. The total value to be file in revised around 2L+. Few questions
    a) Should it be filed u/s ? revised 139(5)
    b) it is also calculating interest under 234b and 234c (which shouldnt be the case? or the interest gets calculated). Is there any way to get this exemption since it is more correction
    c) Also, the interest calculated under sec 234b and 234c are more than 1%

    Regards,

  67. Rakesh says:

    Hi,

    I received a message yesterday regarding high value transaction.Do i need to first respond to e-compliance and then file revised ITR by 31-03-2021 or first file revised ITR and then respond to e-compliance ? Also, do i need to fill each details in revised ITR again or just the missing details as mentioned in e-compliance ?

    Thanks,
    Rakesh

      1. Rakesh says:

        Thanks,

        Is there any deduction available for interest income from other sources (Savings, FD etc) ?

        I read somewhere that max Rs 40000 deduction for income from other sources can be claimed under section 80-TTA from FY19-20 onwards. Is it true ?

        Thanks
        Rakesh

  68. Asok Satva says:

    Sir i got a message regarding compliance and high value information.
    It is displaying 4 transactions regarding FD interest of which 2 transactions is already included during my Tax filing whereas the other 2 transactions i missed it by mistake and will submit the revised return.
    My query is
    What should i reply in the portal?
    Should i reply for all the 4 transactions as “Information is correct”
    OR
    For the 2 transactions which i missed by mistake as “Information is correct” and
    for the 2 transactions which is already included in my filing as “Information is duplicate/included in other displayed information”
    Please help me in my query.

  69. Shreya says:

    Hello Sir, I have received many responses like below amounting to almost 50K, I am not understanding what does this mean exactly, could you please help me through. Thanks in advance.

    1) Total interest payable by a banking company (SPP) Account No: xxxx, Account Type: Saving 3,539

    2) Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A)

    Also do I mandatorily need to get bank interest certificate from Bank.

    Also I see the interest they have calculated is very high

      1. veda says:

        Hi sir, even I received sms on High value transaction , I have accepted it on complaince portal , should I need to take any other action on it?? Please let me know

  70. Abhishek K says:

    I have received the message of “High Value Transaction to check in e-campaign” which is regarding bank interests. I understand that I need to revise my ITR now, but my ITR is already processed and I have received back a refund of Rs. 7,500.

    How can I pay back the additional tax + the refund which I have received? The revised ITR is not taking into account the refund which I received.

  71. Mohan says:

    I received the below message –
    The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). I had submitted ITR considering the interest that got from the bank (multiple Transactions). In the compliance portal I am seeing all those multiple transactions & also 1 single entry of all these combined as “Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A)”. What option I should select for multiple entries & the single entry?, Thanks

  72. Kalyan Mukherjee says:

    There is one problem here. There are two values that the Site show me, that I have already included in the ITR, however as per the site this value is not included. So should I say Information is denied?

  73. Parth Goradia says:

    Hi,
    I have received a message from income tax stating that the department has identified certain high value information. On checking the governance portal, i came to know that the same was due to interest received from FD’s where I am a secondary holder. TDS on the interest is deducted under the PAN of primary holder and also these interest are not being shown in my 26AS. What to do in such case. Request assistance.

  74. Pradi says:

    Hello Sir, could you please help me through. Thanks in advance.

    1) Total interest payable by a banking company (SPP) :1.5L

    2) Interest other than interest on securities received 88K

    It seems amount in (2) is already covered in (1).
    Is my understanding correct?

  75. Nikhil says:

    Hello Sir,

    When I checked the CP website, it showed me that XXX amount was based on Bank Savings and Fixed deposits and I had not included it in my ITR.

    It said “Response yet to be submitted: Rs. XXX”. I clicked on Bulk response and selected “Information is correct”.

    Now what should I do? Should I revise the ITR or wait for next year? If I have to revise, how can I do it?

    Thanks,
    Nikhil

  76. Akash says:

    I have recieved the same communication and it is related to the accrued interest on SB account.
    Now I wish to file revised ITR. Should I choose schedule OS while submitting it? And when/how do I pay the resultant tax?

  77. Preeti Sharma says:

    Sir, on compliance portal the interest payable on time deposit showing against the FD which are 5 years Tax saving and not matured as of now. The interest payment is chosen at the time of FD booking is on maturity only. Also, the same is not showing in interest income certificate received from the bank. Please help

  78. Sandeep Kumar Gupta says:

    Hi Dear,

    I also got similar kind of message on my mobile number yesterday night but no mail received on my email address.
    While visiting on e-campaign on compliance portal, it is showing some saving account interest entries below 10000 INR. I got to know that if saving account interest is below 10K then need not to be mentioned while filing the Tax.
    My AY 2020-21 return is already showing as ITR processed so how i can revise it and what is last date for this as i got this message yesterday night March 28th, 2021 only.

    Thanks,

  79. Kanmani M says:

    When i opened compliance portal i saw FD interest identified as 26Q, whereas the same was already in 26AS and accordingly i filed return, What should i do now for 26Q figures

    1. CA Sagar Gambhir says:

      Check the information, if correct, then file response only. No need to file revised ITR, if all information duly shown in ITR

  80. Yamini says:

    Hi Sir, I received this SMS yesterday
    The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’ or ‘Compliance’ tab – ITD

    But my 26AS is matching with my FORM-16 and returns. When I go to compliance portal which is showing 1lakh amount in other income. What should I do? Pls suggest

  81. P says:

    Sir
    Iam paying tax on FD as per form 26AS.i already filled my return . I received sms from compliance portal. Kindly clarify on what interat I have to pay tax 1.on interat accrued or 2.
    Interest as per 26AS.
    Regards

  82. Santosh says:

    Hi i also have received the Interest from bank details under high value ,so i have responded back stating it as Yes its fine but now if i have to revise the ITR1 and pay tax ,am not able to understand whether it was notice and if so which sec and also after paying tax ,those details like challan no ,BSR no and tax paid details where we need to update in ITR1

  83. Viresh Mathad says:

    Thanks for the detailed explanation Sir.
    I’m in the last step in submitting rectified ITR but was surprised with the tax payable amount.

    Schedule OS has net income on (FD/Savings Interest) – 51,099 Rs

    I fall under 30% slab, considering all the fees what do you think must be the additional tax amount I need to pay?

  84. Aditya says:

    Dear Sir,

    I have got a similar message regarding high value transactions. I had not declared the savings bank interest in my ITR. So kindly advice

    1) confirm the information in compliance portal and then file revised returns.

    2) file revised returns and then confirm in compliance portal.

    3) directly file revised returns and not reply to information in compliance portal.

    4)just validate the information in e-campaign and not file revised returns

  85. Sachin says:

    Got SMS: from IT that identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 ( FY 2019-20)
    After going through found its related to savings bank interest whereas I considered only one bank while filing return not other one.
    Q1: For the one I have considered should I still say info is correct and revise with taking both bank interest.

    Q2: SMS says high value but in FY 2019-20 I do not have such high value transaction. So whats a criteria to get this compliance trigger.

  86. Sachin says:

    Got SMS: The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20)
    After going through found its related to savings bank interest whereas I considered only one bank while filing return not other one.
    Q1: For the one I have considered should I still say info is correct and revise with taking both bank interest.

    Q2: SMS says high value but in FY 2019-20 I do not have such high value transaction. So whats a criteria to get this compliance trigger.

  87. Sid says:

    Hi Sir. I received any email yesterday saying high value transaction – wherein an amount has been quoted as “ purchase of securities of X amount settled OTHER THAN DELIVERY/ transfer .
    Sir I only do delivery investing ( no intra a day or fno. ). What should I do – mark deny in responses ? Thank you

  88. Divanshu says:

    Sir,
    I had recieved the same msg Attention DIVANSHU AGRAWAL (XXXXX7321X),The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20).

    I checked and found that some interest from saving bank account was missed while filing ITR, my ITR have been processed, how can i revise my existing ITR. Please guide me.

  89. Mouli says:

    I got the same message for FD and Savings Interest. But my ITR is already processed and I got the returns. Please guide me on the next steps?

  90. Rakesh says:

    Dear sir,
    I received a msg stating high value transactions mismatch. The reason is that I have not included fd interest and I received refund of the tds in dec. Now I am trying to file revised return, but it is not capturing earlier refund given. Ideally now I need to payback the refund given but the system showing the refund again.

  91. Manish says:

    First we have to reply on compliance portal that information is correct and then we should file revised return before 31st march… pls suggest….

  92. Sandeep Kumar Gupta says:

    Hello Sir,

    I also got the similar kind of message on my mobile number last night but no email received on my email address.
    When i checked on compliance portal as high value transactions, they are showing some saving account interests including below 10000 INR.
    I heard that below 10K INR interest need not be mentioned while filing the Tax, Is it true?
    My AY 2020-21 return is already showing as ITR processed. How i can revised return in this case now?
    I got this message yesterday night only Mar 28th, 2021 and till my time i can submit my revise return?

    Thank you in advance-
    Sandeep

  93. Aakash says:

    Hi Sir,

    I got a msg from ITD for e-campaign under high value transactions.
    As I see in the compliance portal, it has two duplicate entries for interest from a FD. The FD interest has already been reported in the filed ITR. I’m not sure which option to select in the compliance portal for the two entries. Should I mark one as duplicate and other as incorrect? Or only one as duplicate and the other one as correct.

    Thanks

  94. Senthil K says:

    Sir, I received e campaign (high value transaction) with a total value of all bank interests from 3 of my bank accounts. I verified statement and its almost correct. In this case can I accept all and what is my next step? How do I pay additional tax and how to edit ITR? Can you please advice

  95. Nitika says:

    When I have checked my 26AS, my Return is as per the income from interest from Bank,
    How the income tax is reporting additional interest income from banks?
    My interest income is more than 50000, Has bank not deducted TDS ?

    Also, there were some few transaction on interest on FD for which response is provided. Do I need to file revised ITR ..or should wait for further notification .
    Where will i get the option of revised ITR becuase even if I am trying it says ITR processed

  96. Raman says:

    I also received the below message –
    The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’ or ‘Compliance’ tab – ITD

    When I have checked my 26AS, my Return is as per the income from interest from Bank,
    How the income tax is reporting additional interest income from banks?
    Has bank not deducted TDS properly?

    Pl guide

    1. CA Sagar Gambhir says:

      Bank don’t deduct TDS on Interest Income below 50,000. hence you are requested to get Interest Certificate from Bank and compare with e-campaign figures as well as ITR figures. If mismatch in ITR, then you can file revised ITR before 31/03/2021.

      1. Raman says:

        But Bank had deducted TDS on X amount and it was shown in my 26AS. Based on that I had mentioned it as income in my ITR and paid deficit tax also. Now campaign portal showing amount Y from the interest from the bank. Is the ambiguity raised from the bank?

      2. vaisali says:

        Hello Sir,
        I See Tax deduction done by Bank on the same day of interest given.. may be less amount, how to consider the tax to be paid correctly.

      3. Rakesh says:

        Hi,

        I received same message yesterday.Do i need to first respond to e-compliance and then file revised ITR by 31-03-2021 or first file revised ITR and then respond to e-compliance ?
        Also, do i need to fill each details in revised ITR again or just the missing details as mentioned in e-compliance ?

        Thanks,
        Rakesh

      4. Aditya Bv says:

        My savings bank interest is more then 50k, does that mean bank would have deducted tds and given interest. or once I declare that as income and file revised ITR I would be liable to pay more tax to govt??

      5. Neeraj says:

        If banks don’t deduct TDS on Interest Income below 50,000, then why are these figures of even 5000 are showing up? If we show as our income, then we are liable to pay taxes on them..correct?

      6. Shilpi Singh says:

        Even I have got a similar SMS, however in the e-campaign section interest from Tax saver FD has been mentioned before the maturity date. Please tell if the same amount should be agreed or denied ?

      7. Guha says:

        Hello Sir. I have received the same message for High Value Transaction and see them in Income from other Sources.. I am able to respond under eCampaign. Do I need to respond in eCampaign only before 31/3/2021 or Do I need to Revise my ITR-1 again before 31/3/2021 including all the Income from Other Sources.

    2. Sachin says:

      Raman just trying to find a cause for this trigger
      Is it any high value transaction done by your end in FY2019-20 OR even in current FY2020-21. Being this is not the case with others

  97. Prateek Dargad says:

    I got a msg as ITD has identified high-value information that does not appear to be in line with the ITR for assessment yr 20-21 . However, I also visited e-campaign on compliance portal and showing nothing under e-Campaign >> High-Value Transactions. everything is blank and also i am unable to click on the tab. Even on the dashboard i am unable to click on the Red circled tabs. Please help me as i am worried about this. All my tax details are valid and i have been paying the tax regularly.

    1. CA Sagar Gambhir says:

      Similar issue being faced in so many cases. Kindly wait for two to three days. Further as 31/03/2021 is last date to file REVISED ITR for FY 2019-2020, you are requested to raise grievance under Communication Category on e-Nirvan (attach screenshot of SMS & e-campaign window).

  98. ADITYA says:

    Dear Sir, I received SMS that I need to go to compliance portal as some high value transactions are not matching with my ITR. The case is regarding savings interest declaration in ITR. How much time I have to file revised return

  99. s kumar says:

    Dear Sir,

    I got below SMS :
    “The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for AY 2020-21. Please revise ITR / submit online response under e-Campaign tab ..”.

    On the CP portal I confirmed the same.
    But my AY 2020-21 return is already showing as ITR processed. Can I file the revised return in this case? Please suggest what should I do now.
    Regards.

      1. mohit kumar says:

        Hi Sir,

        Yesterday I got this message from Income tax deptt. for complaice , when I am login to compliance portal I am seeing “interest other than “interest on securities” recieved (TDS FORM 26Q, section 194A), could you please confirm what is this and how can i see this transaction.

    1. CA Sagar Gambhir says:

      If there are certain unreported transactions in ITR, as reflected in e-campaign, then it is recommended to file Revised ITR before 31/03/2021 to avoid penal action.

      1. Raghavendra BK says:

        Hello Sir,

        Under what section should I file revised return before 31 Mar 2021 for FY 19-20? Should it be 139(9)?

        Also should I wait for confirmation of my response to Compliance e-campaign or any other notice from the IT department?

  100. Sagar says:

    Hello Sir, I have received many responses like below amounting to almost 50k, I am not understanding what does this mean exactly, could you please help me through. Thanks in advance.

    1) Total interest payable by a banking company (SPP) Account No: xxxx, Account Type: Saving 3,539

    2) Total interest payable by a banking company (SPP) Account No: xxxx, Account Type: Time Deposit 2,824

    1. CA Sagar Gambhir says:

      It is Interest Income on your savings account & FDRs. Kindly get interest certificate from Bank and compare with figures reported in ITR. Kindly note that 31/03/2021 is due date to file revised ITR.

  101. Rahul says:

    Hello Sir ,

    I have got message for high let transactions and when i have gone to compliance website , its showing there is other income of 87441 – which is of 18 interest payable by all different banks from FD
    what should i do now ?
    do i have to fill again ITR form for 19-20 ?
    and do I have to give answer – BULK – information is correct ?

    1. CA Sagar Gambhir says:

      It is Interest Income on your savings account & FDRs. Kindly get interest certificate from Bank and compare with figures reported in ITR. Kindly note that 31/03/2021 is due date to file revised ITR. File response in e-campaign portal only after getting interest certificate from Bank.

      1. Nitika says:

        I have the same case as above.
        Once filing the response on ecampaign portal, do we need to file revised ITR
        if yes, how to do. Because I am not seeing that option

      2. Hemanth says:

        Dear Sagar,
        Please advise after submitting our responses in the CP portal (The responses are GREEN now), do we need to re-submit the ITR for FY2019-20 (i.e.,AY-2020-21), and pay off the additional TAX amt., or will it be added for us to pay in this FY2020-21???

        Thanks in advance for your time.

  102. Mohammed Irfan says:

    I got a msg as ITD has identified high-value information that does not appear to be in line with the ITR for assessment yr 20-21 . However, I also visited e-campaign on compliance portal and showing nothing under e-Campaign >> High-Value Transactions. everything is blank and also i am unable to click on the tab. Even on the dashboard i am unable to click on the Red circled tabs. Please help me as i am worried about this. All my tax details are valid and i have been paying the tax regularly.

    1. CA Sagar Gambhir says:

      Similar issue being faced in so many cases. Kindly wait for two to three days. Further as 31/03/2021 is last date to file REVISED ITR for FY 2019-2020, you are requested to raise grievance under Communication Category on e-Nirvan (attach screenshot of SMS & e-campaign window).

  103. Pavan Todkar says:

    Hello Sir,
    I Got below message today 28.03.2020.
    Can you please let me know what action I need to take
    “The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’ or ‘Compliance’ tab – ITD”
    Regards,
    Pavan

    1. CA Sagar Gambhir says:

      Check transactions reported in e-campaign & compare with Basic Documents of transactions as well as ITR. In case ITR need to be revised, then you can do the same by 31/03/2021. Further you need to file response about correctness of transactions reflected in e-campaign

      1. Pavan Todkar says:

        Hi Sir,

        Thanx for reply,

        I have checked transaction and in which 2 are for in interest but 2 not understood I have booked 2 tax saving FDs with locking period 5 yrs for which not recieved any interest and total amount will be paid on 2024.
        What to do in this case

        Regards
        Pavan

  104. Dhrthi says:

    I have got sms from AD-CMCPCI stating – (xxxxx), the IT Department has identified high value information which does not appear to be in line with ITR filed for assessment year 2020-21(relating FY 2019-20), Please revise ITR /submit online response under e-compaign tab on Compliance portal(CP).

    On checking at the Compliance portal(CP) and e- compaign tab, no message is attached/visible, which means there is nothing high value information.Then why the message is sent by SMS.

    Any one can please guide or explain why Income Tax Department is doing like this.

    1. CA Sagar Gambhir says:

      Similar issue being faced in so many cases. Kindly wait for two to three days. Further as 31/03/2021 is last date to file REVISED ITR for FY 2019-2020, you are requested to raise grievance under Communication Category on e-Nirvan (attach screenshot of SMS & e-campaign window).

  105. Sarita says:

    Sir I received this income tax msg but e compaign is not opening what to to Attention SARITA RANI (XXXXX1774X),The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’ or ‘Compliance’ tab – ITD

    1. CA Sagar Gambhir says:

      Similar issue being faced in so many cases. Kindly wait for two to three days. Further as 31/03/2021 is last date to file REVISED ITR for FY 2019-2020, you are requested to raise grievance under Communication Category on e-Nirvan (attach screenshot of SMS & e-campaign window).

  106. Sarita says:

    I have received this msg The Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2020-21 (relating to FY 2019-20). Please revise ITR / submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal and clicking on ‘Compliance Portal’ link under ‘My Account’ or ‘Compliance’ tab – ITd how can I check and submit response and what is time period for that reply

  107. Rajat says:

    Sir, In form 25 AS , a transaction has been reported under SFT005 of 16 lakhs by axis bank. Total
    amount of fixed deposit in axis bank in financial year is 10 lakhs .
    Does SFT005 include any other transaction than fixed deposits ? I have got a notification on compliance portal regarding SFT005. Should I reply that information is only partially correct and correct amount is 10laks rupees?

    1. CA Sagar Gambhir says:

      There may be another FDs , which have been matured or jointly held with another family members. Kindly get FDR report from Bank and file response accordingly.

      1. Anand says:

        Dear Sir ,
        For high value transactions ,when I submit the response that “information is correct” . Whether I have to pay remaining tax online and then fill up the Revised income tax returns , in case already filled ITR. Or whether I have to wait for any Instructions from IT dept. to do further procedure?

  108. Ashish says:

    Hello Sir,
    I received a message from CMCPCI as your Pan has been flagged for not filling of ITR for A.Y 2020-21. Please file your ITR. Firstly I filed my ITR and on income tax portal dashboard I am seeing status as ITR Processed. Nevertheless I also visited e-campaign on compliance portal and showing nothing under e-Campaign >> Under non-filing of return. everything is blank. Even on the dashboard it is showing 0 in red filled circle. So I am not sure how, what and where to submit response. It is possibility that I received message by mistake?
    processes for A.Y 20-21.

    1. CA Sagar Gambhir says:

      Similar issue being faced in so many cases. Kindly wait for two to three days. Further as 31/03/2021 is last date to file REVISED ITR for FY 2019-2020, you are requested to raise grievance under Communication Category on e-Nirvan (attach screenshot of SMS & e-campaign window).

  109. Amit says:

    Sir, I got a notification on compliance portal for non filing of ITR for FY 19-20. How much time do I have to reply in compliance portal ?

  110. Rajesh says:

    In Haryana if an individual want sell his agricultural property less then 1000 sq yard then buyer have to pay stamp duty @ Rs. 12000 per sq yard where as the actual cost is less then Rs 1000 per sq yard. How compute income tax return while filing ITR for both seller and buyer. Please advise.

    1. CA Sagar Gambhir says:

      Purchase cost 1000 + stamp duty value 12000 = 13000 cost of acquisition for buyer

      Seller might not sell @ 1000 per square yard if he has purchased the land by paying stamp duty. in other case, 1000 sale price

  111. ashu says:

    I am an NRI. we did a Leverage FCNR deposit with an Indian bank in India, where my portion was 5% and bank equity (their foreign branch) was 95%. FCNR is in my name but the deposit was on the lien to the foreign branch of the Indian bank and I had no access to the deposit. On the compliance portal , SFT complete deposit is shown as SFT. how to clarify that my portion is just 5%. what shall be our response on the compliance portal?

  112. nidhi says:

    hello, Nice article. Want to know how to file returns for prev years. What order number and date be used for filing such returns. We just have an e-verification id number from compliance portal that says return not filed for 2017-18. Filing of prev years return is under order number. Please advice.

  113. Karthika Kesavan says:

    My parents got this notice. They sold the property for 30 lacs out of which they paid off some expenses for 3 lacs and deposited the rest in bank. But the notice mentions that the property was sold for 75 lacs. But it is not worth so much. After logging in the website i also saw that information. How should I respond. If I say that the information is incorrect what are the proofs to be submitted

  114. Hari says:

    Hi Sir,

    We (6 friends) bought one agriculture land via builder, and provided it to builder for development. I have got High Value Transactions with Jointly mentioned in it for the development agreement only. Let me know what should be the reply for campaign?

  115. paramjit siingh says:

    Sir, Someone done high value transactions fraduently used our PAN of our Firm. Raid done on us and really culprit was caught from different location by GST department who stole the PAN details of our firm and doing ficitious invoices to earn GST refund. We got a notice of high value where as the firm is closed since 2014 VAT surrendered but PAN was active
    What is to be done to avoid any further complication from Income Tax Department.
    We had given a details story to our ITO and Addl DC of Income Tax but there is no response. We too surrendered our original PAN card after raid but no response . What shall we do please advice
    Thanks

  116. Ganesh says:

    Hi, I have received professional income and i file my IT Return in ITR – 3. I have done withdraw and deposit with another bank Rs.14 Lakhs in FY 2018-19, But it is not taxable income. I have received high value transaction message in E- Compaign tab. How can i response it.

  117. Blessing says:

    Is it not terrorising the Seniors peoples ,Who are keeping ALL his money in the bank and they deducting tax on that Any business he does that is through bank . Why these kind honest peoples mentally suffer through these kind message ??? Can we have another peaceful approach ????

  118. Krishna says:

    Hi Sir

    We have received following message for the NRE FD: Can you please suggest how to respond.
    Dear XX XX – Income Tax Department has received information about Purchase of immovable property of XXXX relating to XXXXX0XX0X in FY 2018-19. However, as per records available, ITR for AY 2019-20 has not been filed. Please file your ITR by 30.9.2020. You can view transaction details and submit online response under e-Campaign tab on Compliance Portal (https://compliance.insight.gov.in) – ITD

  119. Nitu Shaw says:

    Sir, I really liked you blog.. I have received information about high value transactions relating in FY 2018-19. However, as per records available, ITR for AY 2019-20 has not been filed. Please file your ITR by 30.9.2020. You can view transaction details and submit online response under e-Campaign tab on Compliance Portal (https://compliance.insight.gov.in) – ITD.
    So sir before 30th sep I have submitted ITR File.. In 2018-19 I was trading in future and made huge loss so I thought its not mandatory to file an ITR as I am not falling on tax slab and I made loss too. But suddenly I received this message about high value transaction and when I opened my details in compliance.. I saw the sale value of the stocks were under INCOME FROM DERIVATIVES and many wrong entries were also there..so I have selected an option INFORMATION IS INCORRECT. So sir I wanted to know that if I am not making a profit and I am not eligible to pay tax as per income then why I need to file an ITR. And if they will not be satisfied with my response then what is the next step. Please suggest.

  120. Naresh Kumar says:

    Sir I received terminal benefits of 28 lakhs in 2018. same was invested in FFD. after filing of Return Of FY 18 including interst income total 4.5 lakh income of FY 18. But terminal Benifit not included because same is exempted. SFT 005 reported in 26 AS in the month of May 2020. Till date no complince or SMS received. Any problem may arise in future?

  121. Peter says:

    Dear Sir,
    On retirement, I received handsome amount which was credited in SBI account opened in joint name with my wife. I filed my ITR and declared everything therein but my wife did not file the return. I transferred a part my amount to a private Bank in cash to get higher interest. Now ITD is sending sms to my wife asking her to file ITR and submit online response on cash transaction. If it is proved that the cash transaction has been done by me, not by my wife, will the Department raise query on me?

  122. Prachi Shah says:

    Sir,

    i have got notification from IT DEPT – COMPLIANCE PORTAL – HIGH VALUE TRANSACTION FOR SALE OF IMMOVABLE PROPERTY BUT ACTUALLY I HAVE NOT SOLD ANY PROPERTY. I HAVE FLAT IN SOCIETY WHICH HAS ENTERED FOR REDEVELOPMENT AGREEMENT. WHAT SHOULD I REPLY TO THIS

  123. Rama Shankar says:

    Dear Sir,
    I applied for activation of my PAN to submit online response on the compliance portal relating to high value transaction but the AO informed that the PAN has been deleted in 2017 due to duplication I.e. one more PAN has been issued to me. But the sms is related to deleted PAN hence another PAN is of no help to submit compliance. What should I do?

  124. HEGGODLUGOPALKRISHNA RAO says:

    Sir I had sold my property at vidiyanagar arasinakunte site no.584/292 around RS.1700000 where I had invested 4.5 lakhs constructed 3.00 sq.house compound sump electricity etc. Further the same amount I had invested in my site SriCHAKRANAGARA site no.21 and constructed 8.00 sq. Building compound wall sump electricity and sanitary connect ions invested 14.00lakhs totally 1850000 hence any tax doesn’t arise

  125. Sadhna says:

    I have received an sms to submit online response on cash deposit related to PAN ********** in FY 2018-19 but while login to the web portal a message is flashed that this PAN does not exists. Hence I am unable to submit online response to the query. Can I submit offline response? Please guide me

  126. venkatesan p says:

    me lot of loss in share trading my pan no:ATIPV 6284A me living in rent house me and my family members not anybody in own property..me work in salery person,,in private in future i earn money we submit my proper income and tax pay

  127. RAJESH says:

    I got notice for High value transactions in equity market which I really did but there are 6 segments of transactions they asked to reply . Out of them 4 relect to turnover (1speculative sales 2speculative purchase 3 Delivery based purchase 4 Purchase other than actual delivery ) but in rest of 2 segments it is mentioned as INCOME (1 Income on Sales delivery based 2 Income on sales other than actual delivery ).
    What should I reply in respect of last 2 segments which are assuming my sales as income. I am not in profit and all the deliveries were hold for short term only and all the transactions are made with margin money only about one lakh .All the amount mentioned is in crores even in income segments also while I was in a little loss actually.

  128. Hemanth says:

    Hi Sir,
    We had got lease amount of ₹7,50,000 after vacating house and we had deposited a total of ₹10,91,000 in bank in fy 2018-19. Now getting message to file IT but we have filed IT for FY 2019-20 . Should we file IT for FY 2018-20 ??. If yes then how to justify the cash transaction.

  129. Ramesh says:

    Sir, I repatriated funds from my NRE account in FY 2018-19. I received email via e-Campaign regarding not filling ITR for AY2019-20 and information regarding the above outward foreign remittance.

    Is there a way to indicate that this outward foreign remittance was from an NRE account and not from income earned and Do I need to file IT Return for AY 2019-20?

  130. Saikumar says:

    Hi Sir,
    Good morning,
    I am an NRI and I have received high value transaction related to credit card online payments from Income tax dept. But actually credit card purchases made by my close friend for his business purpose and every month he used to do online transfer to my bank account and I pay the credit credit card bill from my account.
    Could you please help how to resolve this situation.
    I haven’t file ITR because I don’t have any income in India.

  131. Sachin says:

    Res sir Meri mataji ne 2018 me me ek plot 28lack me becha that plot ki registry bhi 28lakh ki thi .aur Aya hua Paisa bank me fix diposite kr diya.unka itr file nahi kiya hai.aur Kal high transaction in2018-2019 compliance sms Aya hai .so pls suggest me what we do

  132. Ajit says:

    Hello Sir, The article is really nice having detailed info. However I have query as below:
    My wife is housewife and resident of India and I am residing abroad NRI.
    We bought property in India and my wife is as a co applicant in agreement for purchasing the property.
    She got an SMS mentioning
    Dear XX XX – Income Tax Department has received information about Purchase of immovable property of XXXX relating to XXXXX0XX0X in FY 2018-19. However, as per records available, ITR for AY 2019-20 has not been filed. Please file your ITR by 30.9.2020. You can view transaction details and submit online response under e-Campaign tab on Compliance Portal (https://compliance.insight.gov.in) – ITD

    Could you please advice :
    I think to chose this option :
    Information relates to other Person/Year :
    INFO – The Taxpayer is aware of the Information but it does not belong to him completely. This may happen in the case of joint ownership of property or joint holding of accounts or other assets. While choosing this option Taxpayer is expected to provide correct and complete information of other person to whom the Information pertains (i.e PAN, relationship and Amount).

  133. Rajat says:

    My grandmother got msg for non filing and high value transaction from e campaign for same year.
    In high value transaction they show a total sum rec’d by my grandmother from sbi pension account as 192 salary (Say 12lac), but fact is 75 percent amt relates to pf and gratuity rec’d as revision for 7th pay (i.e increased amt rec’d next year after retirement i.e 9 lac pf + gratuity) and balance is monthly pension (3lac) . Suggest me what to do?
    What I think is
    1.File ITR and disclosed it properly i.e, 3lac as salary and remaining as 9 lac and gratuity and pf.
    2. In e campaign portal – click on option “info is not fully correct” .( As amt 12 lac rec’d is true but whole amt is not salary, only a portion is and remaining amt is exempt as she was a govt employee.)

    Pls reply and correct me

  134. Sunil says:

    Sir I’m government employee ..My annual income is near about 300000 so I don’t file ITR till now…But on 26 september I received notice about 1) HIGH VALUE TRANSACTION and 2) FILE ITR FOR ASSESSMENT YEAR 2019-2020
    Last date to file ITR FOR FY 2018-19 is 30 SEPTEMBER 2020…
    I purchase and cell share in INTRADAY between 2018-2019 and make huge loss about 4 laks during the year…And E-campaign tab show detail of my intraday transaction..
    Now my question is
    1) should I file ITR ,, if file then which ITR type ITR 1/ ITR 3
    2) intraday trading is ban for gov. .employee I think…
    3) can I file normal ITR1 showing only my salary details ..
    4) they also charge 1000 ra to me under fee u/f234

  135. Dil bahadur Thapa says:

    Sir I have retired Army on May 2018 .i have got, insurance. Commutation. and gratuity .got message high value traction. Land.purchese loan. Car loan. House loan. Child edn. How to solve this matter.check plz.

  136. Sunil ms says:

    Dear Sir

    I’m an NRI. I have received high value transactions for the year of 2018-19.I have NRI Fd and and normal FD as well ..
    I don’t know for which they noticed for high value.Although I didn’t file my ITR for the year 18-19 my CA he is asking of my presence to return the ITR.Kindly guide me how to fix the issue

  137. Ila says:

    I am a house wife.. my husband TRF some saving to me for fixed deposit. I got high value transaction msg from income tax department.. please tell I need to fill itr for 2018-19

    1. Amit says:

      Since you are getting interest from Fixed deposit, it is considered as income from other sources. Although you are housewife, you will be required to file ITR in this scenario where you are earning interest from FD. There will be no need to worry as you can do everything online.

  138. Pratham P says:

    Dear Sir,

    Thanks for the article. e-campaign site shows 50% of purchase value of immovable property in my name. The title of property is jointly held by me and my father. the purchase was completely out of my father’s funds and he has disclosed it as 100% in his ITR AY 19-20.

    I have filed my original ITR for AY 19-20 a week back.

    What do i respond on e-campaign?
    1. modify and mention value as NIL, or
    2. modify and mention correct proportionate purchase value?, or
    3. any other suggestion

    Thanks

  139. Pratham P says:

    Dear Sir,

    Thanks for the article. e-campaign site shows 50% of purchase value of immovable property in my name. The title of property is jointly held by me and my father. the purchase was completely out of my father’s funds and he has disclosed it as 100% in his ITR AY 19-20.

    I have my original ITR for AY 19-20 a week back.

    What do i respond on e-campaign?
    1. modify and mention value as NIL, or
    2. modify and mention correct proportionate purchase value?, or
    3. any other suggestion

    Thanks

  140. deepak negi says:

    My Dad is a pensioner (Army) and he has received gratuity amount in Nov-18 . He has got the high value transaction message. Do we have to pay tax for this ?

  141. Ganesh says:

    Sir, after my father expired his money transferred to my mother account with the help from bank. So now we received high transaction message, so is that taxable.

    Thanks for your help.

  142. Sunil singh says:

    Dear sir,

    I keep all my saving in my wife account, now I got a message from CMCPCI as they have found high value transaction in her account. U am not sure if this is a genuine message or fake. If genuine then what will need to done, do I need to connect with any chartered accountant. Your advise will be highly Appreciated.

  143. lallu says:

    sir,thank you for this blog
    i have very much losses in share market,so not liable to pay tax
    but i got notice from income tax office and i response to not liable to tax
    so should i response all the information is correct?

  144. Mina says:

    Resp sir, my minor son received gift from his grandfather, which was invested in mutual funds. Should it be reported as out of receipts exempt from tax, Or receipts from identifiable person with pan. Thanks

  145. AK Srivastava says:

    I have done trading in ‘Stock Derivatives’.In this trading only contract for buy/sell is done on security of pledged existing shares.No payment was made to start/finish the trade.Only net profit/loss was received/paid after squiring up the trade.Net profit / loss has been taken as ‘Short term capital gain’ in my filed return. IT deptt has assumed full contact value as ‘High value transaction’ and issued me notice.What should be my reply for this partially correct information? Should I deny? How can I explain this fact ?- A K Srivastava, 9415429232

  146. Mayank says:

    Very nicely explained sir. Please write a blog for Traders too who need to audit their transaction, turnover issues etc. We Traders are confused about ITR-2/3

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