Seminar on e-verification scheme 2021 & SFTs held in Dibrugarh

DIBRUGARH: An outreach seminar on e-verification scheme 2021 & SFTs was organized on Friday in Dibrugarh. The seminar was attended by around 80 different stakeholders viz. CAs, tax practitioners, tax payers and others. The programme started with welcome speech by N Jungio, DIT (I&CI), Guwahati. In his welcome speech, the DIT explained in details the objective of the programme and emphasized timely and correct filing of SFTs and prompt reply in respect of e-verification cases.

He emphasized the need for correct, complete and timely submission of SFTs by the banks. He also highlighted the problems faced by the assessees during e-verification process due to wrong reporting.

The DIT (I&CI) highlighted the newly launched e-verification scheme, 2021 and promotion of voluntarily compliance through non-intrusive tax administration and strengthening the mechanism for effective tax deterrence are the cornerstones of the present tax policy.

He stated that the main purpose of launching, e-verification scheme, 2021 is to verify mismatch of information available in ITR and information available to the Department to various sources such as Reporting Entities (via SFTs), AIS etc. He also suggested the audience to promote the taxpayers to file ITR in case of highly value financial transactions despite having exempt income u/s. 10(26) of the Income Tax Act, 1961.

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