Not stopping at the declared accounts, the AI program delves into undisclosed bank accounts registered under your name. It also extends its search to joint accounts where you are the second or third member authorized to operate the account. Furthermore, the program scrutinizes postal accounts, cooperative banks, local credit institutions, and investments made jointly with family members who are non-registered ITR filers. No stone is left unturned in ensuring comprehensive coverage of your financial activities.

The PAN card's validity is also checked against government registry records to identify any land or immovable property transactions made by you in the current and previous three years. Additionally, the program takes into account debit card and credit card transactions, passport and visa details, as well as information on two- and four-wheeler purchases or sales. This holistic approach aims to create a comprehensive profile of your financial activities for accurate scrutiny.

While this new AI-ITR program promises to expedite the scrutiny process, the implementation may cause some delays in income tax processing. The program's remarkable capacity to perform all the required tasks within seconds necessitates additional time for thorough analysis. As a result, taxpayers can anticipate ITR processing to be completed in the last week of July or the first week of August.

With the introduction of advanced AI tools for ITR scrutiny, the income tax department aims to enhance the accuracy and efficiency of the process. Taxpayers should be prepared for potential delays in tax refunds due to the thoroughness of the AI-driven scrutiny. It is crucial for individuals to exercise caution and accuracy while filing their ITRs, as any inconsistencies may lead to further scrutiny and potential demand notices. By embracing technological advancements, the income tax department seeks to ensure a fair and transparent tax system, encouraging taxpayers to fulfill their obligations diligently.