New Provision for Cross-Verification of Inconsistencies in ITR: Finance Bill 2025

The Finance Bill introduces a new provision for cross-verification of inconsistencies in Income Tax Returns (ITR). This measure aims to enhance the accuracy and integrity of tax filings by enabling thorough scrutiny of discrepancies. The provision facilitates the comparison of data from various sources to identify and rectify inconsistencies. It will help to reduce tax evasion and improve compliance. This cross-verification process is expected to streamline tax administration and ensure fair revenue collection. Taxpayers are advised to maintain accurate records to avoid discrepancies. The new measure underscores the government’s focus on leveraging technology to strengthen tax compliance.