e-Verification Scheme enables taxpayers to correct omitted transactions and update returns before assessment proceeds. The e-Verification Scheme, 2021 is a voluntary compliance mechanism notifying taxpayers of omitted or inaccurate transactions revealed by reporting systems, allowing them to file an updated return to disclose missed income and pay the tax due, and to provide explanations before any assessment or re-assessment is undertaken.
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Provisions expressly mentioned in the judgment/order text.
e-Verification Scheme enables taxpayers to correct omitted transactions and update returns before assessment proceeds.
The e-Verification Scheme, 2021 is a voluntary compliance mechanism notifying taxpayers of omitted or inaccurate transactions revealed by reporting systems, allowing them to file an updated return to disclose missed income and pay the tax due, and to provide explanations before any assessment or re-assessment is undertaken.
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