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  • Mar 14, 2023
  • Errors in AIS financial transactions? What to do if you get an e-verification notice from tax department

    Taxpayers can raise objections if they spot errors in the financial transactions in their Annual Information Statement (AIS). Once you raise the issue the tax department will check with the source. If the mismatch continues, a notice under the e-verification scheme can be issued.

    According to a tax department advertisement dated March 14, 2023, “Check the financial transaction available in AIS tab of your income tax account at Income tax website. If you disagree, raise an objection. We will check with the Source. If the mismatch continue, notice under the e-verification scheme may be issued. In such cases, return of income can be updated u/s139(8A) of the IT Act, 1961, subject to eligibility."