Income Tax Return E-Verification: After filing the Income Tax Return, now E-Verify will have to be done within 30 days. Otherwise your refund will not come. This rule has come into effect from August 1. Earlier, there was a time of 120 days for verification.
The Income Tax Department has reduced the time limit for submission of e-verification or hard copy of ITR-V after filing of returns by income tax payers to 30 days from the existing 120 days, which became effective from August 1. Is. 29 Announcement of Timeline Changes.
Know- Everything about ITR Verification
- E-Verification of ITR completes the return filing process.
- If the e-verification of ITR is not done within the stipulated time, the ITR is considered invalid.
- The notification said that it has been decided that in respect of any electronic transmission of return data on or after the date of commencement of this notification, the time limit for e-verification or submission of ITR-V shall now be 30 days. Will be.
- Till now, the time period to e-verify ITR or send ITR-V through post, after filing of Income Tax Return (ITR), was 120 days from the date of uploading of ITR.
- The notification clarified that if e-verification of ITR or hard copy of ITR-V is sent through post beyond the time limit of 30 days, the return will be treated as late or beyond the due date.
- Those who wish to send ITR-V in hard copy may send it through “Speed Post Only” through the usual address: Centralized Processing Centre, Income Tax Department, Bengaluru-560500, Karnataka.
- “The date of dispatch of speed post duly attested ITR-V shall be reckoned for the purpose of determination for a period of 30 days from the date of transmission of Income Tax Return electronically.
- The deadline for filing I-T returns by taxpayers who are yet to get their accounts audited for the financial year ended March 31, 2022 ended on July 31.
- On July 31, the last day of such filing, a record 72.42 lakh income tax returns were filed, taking the cumulative returns to 5.83 crore, close to the same levels last year.
- Through ITR, a person has to furnish information to the Income Tax Department regarding the income during the year and the taxes payable and paid thereon.