Need help upon ITR notice
Hello Guys… I received this notice from ITD-
The ITD has identified high value information which does not appear to be in line with the ITR file AY 2020-21
It is not telling me anything about what this “high value information” is!!!
Can anyone here help me understand this plz. 
Edit 1:-
Here’s my story:
I was in India till Oct,2019. Then I left India because I got a job opportunity abroad. I’m still working abroad.
I got Form-16 from my previous company for the year FY2019-20. I had income from this company till Oct month.
Whatever income was shown in this Form-16, I filed ITR for FY2019-2020 as ITR-1.
Now why did I go with ITR-1???…..It’s because I read this line-
“An individual will be treated as a Resident in India in any previous year if he/she is in India for:
At least 182 days in that year, OR
At least 365 days during 4 years preceding that year AND at least 60 days in that year.”
So as per this, for the FY-2019-20 I’m still a resident of India. Because days from month April to Oct sums to around 200 days.
Is this wrong?
Need your advice plz.
Edit 2:-
I managed to check my Form26AS, as well as the compliance portal. Saw no issue with 26AS. But in the Compliance portal, I found a msg as “Other Income”. This income is interest from the bank, which I didn’t declared while filing return. So, I just revised my ITR, including this income as interest from savings account.
Let’s see what happens.
Thanks to @Sudarshan61 . He guided me on this. Thanks bro for your help.
THIS~
You might have purchase or sale some property or any other assets or even credit card transaction
Even for FDs one can receive such notices..
you received sms or notice by courier?
Do you also deal in share market? Specially Option/Futures?
High Value Transaction will be visible in Complaince Portal.
Did you check the complaince portal?
If you need help in checking complaince portal revert back, dimers will help
No.. i haven’t purchased any property… But I keep doing small credit card transactions here-n-there..
But the sms that I received, is not specific about what is that it is finding as mismatch.
I might have to take help from some tax expert. 
Cc txns amounting to?
I have added some more details to the post… My full story so far
I too received ITR notice for non filling of ITR for my sister. She is in USA since 6 years. We do some delivery base buy/sell & I did some F&O trades in that account. We never filled ITR in her account till now bcoz profit is never more.
Don’t know what to do now. Also in mail they have mentioned figures about these trading. But some figures are wrong as per me which says 28 lac worth buying & selling in off market transactions, which i m sure we have not done…
That is why it is never a good idea to not file ITR when you are dabbling in share market for anything more than 1-2 lakh(amount invested/transactions done irrespective of profit) in a year. Always file an ITR once you graduate from college even if you show income as zero(well show a few thousand as interest earned from saving acc as final tax will still be zero). Btw those figures you are talking about are probably wrong but you still need to prepare some sort of statement for all those FnO transactions.
@topgear
P.S. It is compulsory to file ITR3 for intraday/FnO transactions if they are not negligible, for delivery based trading one can get away with filing ITR1 if don’t want to carry forward losses but if you want to carry forward losses(which can be adjusted against gains in market in future to reduce tax liability) then you must file ITR2.
Same here..even i received this sms
@Sudarshan61 and other dimers help me too. M not an nri.. dont do stock or trading. Just have a couple of fds and 2 credit cards which I use
Edit:I checked in compliance portal. It is showing me some “other source of income”
" total interest payable by bank"
Guess its on fd and savings bank balance interest. Is it for the last financial year only??
What is total FD value & total value of transactions done on credit cards in the year?
Guys..
1st you need to check compliance portal..
Login to income tax website go to compliance section…
Know why you receive the SMS/email
High value FDs, time deposits, cash transactions, property sell/purchase , stock market trading everything is being reported…
What about Oct19-Mar20 income? I guess u did some txns during this period but income not shown or there were amounts transferred from abroad but not mentioned in ITR
Hello, I also got such SMS for FY 2019-20.
Mostly for cash deposits, I have gone on compliance portal and marked that these transactions are mine.
But do i need to file ITR again?
Depends on quantum of cash deposits you have made…and how have you declared them in ITR/Income
Did u take any action bro on that?
.
I also received it, check if you put the interest income of various account into ITR. I got it for the same reason.
It could be any reason and can be seen on compliance portal.
Huge no of people are getting notice this time..
I remember we got similar messages last year also . We have to visit compliance portal to check which transactions are high value transactions and there was options to mark them accordingly .
@avion bro check this
Nowadays everything is linked with aadhar card n pan card even all your numbers those link with banks n paytm mobikwik etc you can’t hide anything modi n shah jodi doing this only from 1st day
@Maverick_23 @Sudarshan61 @TEMPER @ZitOO I too got the sms from IT department for high value transaction. I checked compliance portal and all are FDs. I think till 40K tax free. Please correct me. What if I mark them correct and do I have to file revised return?
Full FD interest is taxable as per your income tax slabs (Unless you are a senior citizen for whom 50k interest is tax free)
Banks deduct TDS only above 40k, it does not mean 40k is tax free. If you have other income of Rs 2.5L and above, every rupee that you get as interest is taxable
My ITR is not processed yet. Is there anyone facing the same issue?
No it is not normal, how much itr income you showed & when did you file it.
I used to file ITR 1 by self as I have income from salary. Now from last 2 years I have not filed ITR as I have extra income from these so called loots. Have lakh worth UPI deposits from unknowns persons for phone bookings & another lakh worth merchant acceptance through QR codes. Now I am confused which ITR to fill as these loot related deposits (income) may be classified as business. Pls help if anyone have any idea.
OP – did u file ITR before this on regular basis and then stopped in between
do u have some ITR Number generated before
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Check your form 26As and compliance portal