{"id":13741,"date":"2020-07-27T15:49:24","date_gmt":"2020-07-27T10:19:24","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=13741"},"modified":"2020-07-27T15:58:59","modified_gmt":"2020-07-27T10:28:59","slug":"cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax\/","title":{"rendered":"CBDT launched 11 days E-Campaign on Voluntary Compliance of Income Tax"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The campaign would remain active for 11 days from the date of launch. The E-campaign aims to target those taxpayers who have failed to provide valid detail on high-value transactions or failed to <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>file Income Tax return<\/strong><\/a> for the year 2019-20. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax\/#Objectives_of_e-campaign_on_voluntary_compliance\" >Objectives of e-campaign on voluntary compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax\/#Key_Highlight_of_e-campaign_on_voluntary_compliance\" >Key Highlight of e-campaign on voluntary compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax\/#Advantages_to_Taxpayers\" >Advantages to Taxpayers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/cbdt-launched-11-days-e-campaign-on-voluntary-compliance-of-income-tax\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Objectives_of_e-campaign_on_voluntary_compliance\"><\/span>Objectives of e-campaign on voluntary compliance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> The campaign objectively helps the taxpayer to authenticate their financial transaction detail against the data available at the IT department. Since the campaign promotes voluntary compliance, it would let taxpayers get rid of the scrutiny process or notice and validate their financial transactions with authority. Keep in mind that the campaign is designed to cater to the assesses for the FY 2018-19. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Highlight_of_e-campaign_on_voluntary_compliance\"><\/span>Key Highlight of e-campaign on voluntary compliance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Income Tax Department<\/strong><sup><a href=\"https:\/\/www.incometaxindia.gov.in\/Pages\/default.aspx\"><strong>[1]<\/strong><\/a><\/sup> has taken advantage of data analytic to sort out a list of a specific taxpayer responsible for not comply with the law of income tax. The list also includes the defaulter with high-value transactions. Through this campaign, the Income Tax Department will roll out a notification (SMS\/Email) to the taxpayer&#8217;s predetermined list. <\/p>\n\n\n\n<p>As per CBDT, the notification will direct the taxpayer to validate their financial transactions against the information accumulated by the IT department from the sources such as TDS, SFT, Foreign remittances, and TCS. Furthermore, the department also took advantage of triangulation set up for the accumulation of information about export, <a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>GST<\/strong><\/a>, derivatives, imports, commodities, and transactions in securities.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/new-income-tax-returns-forms-2020-21\/\">New Income Tax Returns Forms: CBDT Notified FY 2019-20\/ AY 2020-21\n<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_to_Taxpayers\"><\/span>Advantages to Taxpayers <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>CBDT also mentioned that this e-campaign would let the taxpayer access their high-value transaction detail on the online portal. The taxpayers also need to confront some options and respond accordingly for clarification purposes. The options are as follows:-<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"532\" height=\"255\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-128.png\" alt=\"Advantages to Taxpayers \" class=\"wp-image-13742\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-128.png 532w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-128-300x144.png 300w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure><\/div>\n\n\n\n<p>The taxpayer need not head over to the authority premises to serve this purpose. It&#8217;s worth noting that the last date for filing the Income-tax return for FY 2019-20 is July 31, 2020. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Expert&#8217;s projection on e-campaign on voluntary compliance<\/h3>\n\n\n\n<p>Tax\nexperts said that this campaign would be going to transform the outline of the\nForm 26AS completely. This is an excellent chance for taxpayers to disclose\ntheir transaction detail to the concerned authority. <\/p>\n\n\n\n<p>It\nwould help the taxpayers to get prepared with relevant explanations for tax\nauthorities for the given transaction. It&#8217;s worth noting that most of the\ndetails will be goes in the new Form 26AS only. This e-campaign seems to be a\nconventional step before the launch of new Form 26AS. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> The new form format was announced in Budget 2020-21. The revised Form 26AS is not just confined to details of tax collected and deducted at source; instead, it renders a more comprehensive profile of the taxpayer. Finance Minister Nirmala Sitharaman has already cited that taxpayers will get access to pre-filled ITRs that consolidate information such as bank interests, salary income, dividends, and capital gains from securities. The information about income &amp; TDS will be accumulated from a mutual fund, stock exchanges, state registration departments, and<a href=\"https:\/\/corpbiz.io\/epf-registration\"><strong> EPFO<\/strong><\/a>.  <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbdt-on-annual-information-statement-new-avatar-form-26as\/\">\nCBDT on Annual Information Statement: New Avatar Form 26AS\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The campaign would remain active for 11 days from the date of launch. The E-campaign aims to target those taxpayers who have failed to provide valid detail on high-value transactions or failed to file Income Tax return for the year 2019-20. Objectives of e-campaign on voluntary compliance The campaign objectively helps the taxpayer to authenticate [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":13745,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,153],"tags":[804],"acf":{"service_id":"78"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4507,"readingTime":2,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13741"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=13741"}],"version-history":[{"count":14,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13741\/revisions"}],"predecessor-version":[{"id":13759,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13741\/revisions\/13759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/13745"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=13741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=13741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=13741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}