<span style="color: #222222;">Central Board of Direct Taxes, CBDT has asked  the individuals who have carried out high value transactions but not filed their income tax returns for assessment year 2018-19, to  submit their responses, within 21 days. It said, in cases where no return is filed or no response is received within the stipulated time, the department will  consider initiating proceedings under the Income Tax Act. </span><br />'' <br />'' <span style="color: #222222;">It said,  data analysis has identified several potential non-filers who have carried out high value transactions in 2017-18 but have still not filed returns. CBDT said, the Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high value transactions and have potential tax liabilities. </span><br />'' <br />'' <span style="color: #222222;">Analysis was carried-out to identify non-filers about whom specific information was available in the database. The Department has enabled e-verification of these  cases to reduce the compliance cost for taxpayers by soliciting their response online. The Department  reiterated that there is no need to visit any Income Tax office for submitting response, as the entire process is to be completed online.</span><br />