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IT dept. asks taxpayers to verify online deposits made post demonetization

demonetisation

New Delhi: The Income Tax (IT) department has asked taxpayers to verify online deposits which they have made in their accounts post demonetisation and respond to queries of any mismatch.

Post demonetization high value banknotes with information in its database to identify taxpayers whose cash transactions do not appear to be in line with the tax-paying profile.

To help taxpayers the information on cash deposits is now available for online verification “in the e-filing window of the PAN holder (after log in) at “https://incometaxindiaefiling.gov.in “, the user guide said.

The website also provides for the taxpayer to explain the source of cash deposit digitally without visiting the income tax office.

If cash deposit is declared under the tax amnesty scheme, PMGKY, the verification will be closed.

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