"Under this e-campaign the Income Tax Department will send 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," it said.
The department also has collected information related to GST, exports, imports and transactions in securities, derivatives, commodities, mutual funds, etc.
The CBDT said that 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.
There would be no need to visit any Income Tax office, as the response has to be submitted online.
"Dataanalysis has identified certain taxpayers with high value transactions who have not filed returns for AY 2019-20 (relevant to FY 2018-19). In addition to the non-filers, another set of return filers have also been identified wherein the high value transactions do not appear to be in line with their Income Tax Return," the CBDT said.
It also asked taxpayerstoavail the opportunity to participate in the e-campaign for their own ease and benefit.