CBDT notifies e-Verification Scheme to deal with mismatch of taxpayers info. reported by reporting entities

Notification No. 137 /2021, dated 13-12-2021

The CBDT has notified the e-Verification Scheme, 2021, effective from 13-12-2021. The scope of the Scheme shall be in respect to collecting information under sections 133, 133B, 133C, the exercise of power to inspect registers of companies under section 134, and exercise of the power of AO under section 135. The Scheme shall be applicable to verify the mismatch of the information uploaded to the taxpayer’s registered account.

As per the Scheme, where the mismatch between the amount accepted by the assessee and the amount reported by the reporting entity persists, the information after initial e-verification shall be run through a risk management strategy laid down by the Board. The information found to be no/low risk on such risk criteria or where no further action is required shall be processed for closure.

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