E-campaign query
I received an E-campaign query
We help you address queries regarding particulars of financial transactions undertaken by you, through your e-campaign portal and will assist you in filing a response for smooth communication between you and the income tax department.
Get expert adviceWhat is an E-campaign query?
E-campaign is a mechanism adopted by the Income Tax Department whereby certain high value financial information received about you from various third-party sources is displayed in your Income Tax portal for seeking your feedback – whether its correct or incorrect. Queries are also received regarding non-filing of tax returns and seeking reasons for the same.
Why did you receive it?
Third parties - your banks, share trading broker, sub registrar etc - have reported to the Tax Department that you have entered into certain high value transactions and the Tax Department is expecting your confirmation on its correctness. Few such transactions being reported to the Government are:
Booking Fixed Deposit (NRO / NRE / FCNR) ≥ INR 10 lakhs in a financial year
Cash Deposit / Withdrawal ≥ INR 10 lakhs
Sale or purchase of immovable property ≥ INR 30 Lakhs
Sale or purchase of shares ≥ INR 10 Lakhs
Payment of credit card bills ≥ INR 10 Lakhs (INR 1 Lakh in case of cash payment)
The Tax Department also does not know you are an NRI and is looking for explanation as to why no return of income has been filed by you even though you had the source of income to be making these investments / expenditures.
What to do now?
You are required to submit a response on each information item to complete the process of submission of response through your Income Tax portal.
If such financial transactions are being carried out regularly in India, you would also find it beneficial to file your Income Tax Returns in India.
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