Budget 2018 I-T relief for individuals: No more notices for filing mismatch

I-T department will stop sending demand notices to individuals even when it finds discrepancies in the income reported by them in their returns when matched with the data from third-party entities

The government and tax officials appear to believe that the majority of people who file income-tax returns are honest taxpayers. This belief, among other things, has reportedly prompted the government to provide individual taxpayers a relief in Budget 2018 from demand notices sent by the tax department in case it finds discrepancies in the income reported in tax returns vis-a-vis reports from third parties like banks, stock exchanges, and car dealers.   

Budget 2018 proposes to amend existing laws so that the I-T department stops sending demand notices to individuals where it finds discrepancies in the income reported by them