Earlier income tax payers could verify ITR up to 120 days after filing ITR online. But, last year CBDT reduced this time to 30 days. This means that now within one month of filing ITR, it has to be verified. The new rule came into force in August last year. CBDT had issued a notification in this regard.

The notification said, “Form ITR-V has to be filed within 30 days of filing electronic ITR. If ITR-V is filed after this period, it will be treated as if the return in respect of which this form has been filed has never been filed. Then the income taxpayer will have to fill the data (return) again and then file ITR-V within the time period of 30 days.

ITR is invalid without verification

The last step in the process of filing Income Tax Return (ITR) is to verify or verify it. ITR without verification will be considered invalid. In this situation, you will have to file the return again and get it verified. If you do not verify then you will not get income tax refund. If a person fails to verify his ITR (Income Tax Return) before the due date, then he can request the department to verify his ITR with delay, stating the reason for the delay. If this request is approved, he can verify the return.

You can do this work in 6 ways

ITR can be verified both online and offline. There are a total of 6 ways to verify ITR. Of these, 5 methods are online and one method is offline. You can verify ITR online with the help of OTP received on registered mobile number, bank account, demat account, ATM and netbanking. ITR verification can also be done by sending the signed copy of the ITR-V form to the Income Tax Department by post.

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Earlier the time for verification was 120 days, but now it has been reduced to 30 days. If you have filed your ITR but have not yet verified it, do it otherwise the problem may increase later.

Why is it necessary to do ITR verification? 

As per the rules of the Central Board of Direct Taxes, you need to verify the ITR within the stipulated time, else your income tax return will be treated as invalid and your ITR filing will be useless. The details you have filed in ITR have to be verified, without this your ITR is not valid. You also have the option to e-verify your ITR. In case of not verifying, ITR filing goes in vain, you may also have to face legal action. A fine ranging from Rs 1,000 to Rs 5,000 can also be imposed on you.

ITR Verification Methods: How to do ITR verification?

You can do ITR verification both online and offline. In offline verification, taxpayers have to give self-declaration.

How to e-verify ITR? 

There are six ways to e-verify – OTP on registered mobile from Aadhaar, through Bank Account Generated EVC, through EVC through Demat Account, through EVC through ATM, through Netbanking and through Digital Signature Certificate .

Prerequisites for e-verification

To do online verification, you have to fulfill certain conditions. For example, you should already have a valid user ID and password on the e-filing portal. Acknowledgment number should be there for e-verify without login on the portal. To e-verify, either you have filed your return yourself or e-Return Intermediaries or ERI have filed returns for you.

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If, you have filed your return within the deadline and thinking that you are free from all the tension, then it is not so. Even if you file the return within the time limit, you may be fined Rs 5,000. Tax experts say that this penalty can be imposed if you do not verify (verify) your ITR even after filing it within the stipulated time frame. In this case your income tax return will be rejected. You will then be fined for filing late.

Why it is necessary to verify the return

There is a possibility that some mistake may happen while you are filling the ITR. That’s why the Income Tax Department asks people to verify. Verification lets the Income Tax Department know that the taxpayer has gone through his Income Tax Return once again and the scope of error is eliminated.

The Income Tax Department processes the Income Tax Return only after it is verified by the taxpayer. It is finalized after processing. After this, if any refund is made to the taxpayer, then the refund is issued to him. The Income Tax Department has stated on its website that you need to verify your Income Tax Return to complete the return filing process. ITR is not considered valid without verification within the stipulated time.

For how many days can you verify

If you have filed your return by July 31, then you will get 120 days for verification. At the same time, this time limit will be only 30 days for those who file returns after July 31. At the same time, the new rule has come into effect from August 1, 2022. After this, only 30 days will be given to verify the income tax return. That is, from next year onwards, you will have only 30 days to verify the return.

ITR verification can be done in 5 ways

1. Through Aadhar OTP
2. through demat account
3. through bank account
4. through netbanking
5. Bank through ATM

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However, CBDT (Central Board of Direct Taxes) has reduced it to 30 days which has become effective from August 1. Now the trick here is that taxpayers who have already filed their online return before the notification of reduction in verification time limit i.e. August 1, will get 120 days for verification and those who have done it after that, for them. This time limit is 30 days only. Explain that after July 31, the return can be filed with penalty.

Verify can be done in six ways

• From Aadhaar OTP: For this your Aadhaar and PAN should be linked and mobile number should also be linked with Aadhaar. Go to the e-Verify page of the Income Tax Portal and select the option of Verification by Mobile OTP. After that proceed by selecting the Continue option and on the next screen click on ‘I agree to the verification through my Aadhaar’. OTP will come on the mobile, by filling it you can verify the ITR.
• Through Bank Account: For this your bank account should be already verified. In this way, to verify the ITR, a code has to be used which comes on your mail id and mobile. This Electronic Verification Code (EVC) is a 10-digit alphanumeric code.
• Through Demat Account: For this also your Demat account should be already verified. In this way, for verification, go to the e-verify page of the income tax portal and select the option of demat account. After this, click on the Continue option and you can verify the ITR by entering the EVC that has been received.

• Through ATM: Select the PIN option for ITR filing by swiping the card at the bank’s ATM. EVC will come on mobile. After this, select the e-verify page on the income tax portal and verify the return by entering the EVC by selecting the option ‘I have ECV’.
• Through Net Banking: Go to the e-Verify page of the Income Tax Portal, select the Net Banking option and enter your bank name and click on ‘Continue’. Then log in to net banking on your bank’s portal and verify ITR by selecting the option of e-verify.
• Digital Signature Certificate (DSC): This is one of the methods of e-verification but immediately after filing your ITR you will be able to e-verify using Digital Signature Certificate (DSC). If you have chosen the option of verification later while submitting the income tax return, then you will not be able to opt for DSC for verification.

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The last date for filing Income Tax Return ie ITR was 31st July. No changes have been made by the Income Tax Department in this. If you are a taxpayer and you have filed your income tax return, then this news is very important for you. Actually, after filing ITR, the most important thing is its e-verification. Without this, filing the return is considered incomplete and it can also be canceled.

This is the reason why its verification is considered more important than filing the return. After filing ITR through online mode, it is very important to do ITR E-Verification. If you have filed the return then do not forget to do the e-verification (ITR verification). Especially new taxpayers should not delay the verification at all.

Only so many days will be available for e-verification of ITR

The Income Tax Department has reduced the deadline for submission of e-verification or hard copy of ITR-V after filing income tax returns to 30 days from the existing 120 days, i.e. from today. has been implemented. The department had announced the change in the deadline by issuing a notification on July 29.

These rules have been applied to taxpayers who file their income tax returns on or after August 1. According to the new notification of CBDT, now the date of furnishing the return electronically will be considered as the same when Form ITR-V is submitted within 30 days from the date of transmitting the data electronically. Those who wish to send ITR-V in hard copy can send it to the Centralized Processing Centre, Income Tax Department, Bengaluru-560500, Karnataka through Speed ​​Post only.

Do e-verification in these ways

Verify ITR with Aadhaar OTP
Verify with bank account
Netbanking ITR Verification
Verification from Bank ATM
You can also verify with Demat account

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The thing is that CBDT i.e. Central Board of Direct Taxes has changed the rules for doing ITR verification. For example, earlier where the income tax payer did not get time to verify ITR for 120 days after filing ITR online. At the same time, now he will get only 30 days for this work. This means that now ITR has to be verified within a month of filing it. The special thing is that the new rule has come into effect from August 1.

Now they also know what will happen if they do not do this. Form ITR-V has to be filed within 30 days of filing ITR electronically. If ITR-V is filed after this period, it will be deemed that the return in respect of which this form has been filed has never been filed and the income tax payer will have to file again.

Then Form ITR-V has to be filed within 30 days of this. However, the CBDT has clarified that the earlier time limit of 120 days will be applicable in respect of returns filed before the date of coming into force of this notification.

Now let’s understand the story of this ITR verification. The last step in the process of filing income tax return is to verify or verify it. If you do not verify then you will not get income tax refund. Also, ITR without verification will be considered invalid. At the same time, you can get ITR verified both online and offline.

According to the information given on the income tax portal, there are a total of 6 ways to verify ITR. Out of these, 5 methods are online and one way is offline. We will tell you one way now. Income tax return can be verified through netbanking. If you want, you can also verify ITR with your Aadhaar.

This method is of Aadhaar OTP, for which you will have to go to the Income Tax website for verification. You will also have to visit this website for verification through net banking. For e-verification through net banking, one has to login to the bank’s website. In that you will get the option of e-verify in the Tax tab. After this, EVC can be generated by clicking on the My Account tab of the Income Tax Department.

On clicking this, a 10 digit code will come to your email and mobile phone. This code is valid for 72 hours. To verify your income tax return, go to My Account tab and enter EVC. Your ITR will be verified as soon as you submit it.

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The deadline for filing ITR is over. The last date to file ITR was 31st July 2022 which is now over. Now many people have not filed ITR. Till the midnight of July 31, about five and a half crore people have filed ITR, but still a large number of people have not filed returns. In such a situation, those who have not filed returns till now will now have to pay the penalty before filing the income tax return, only then they will be able to file their return.

There were speculations that the government would extend the deadline for filing IIR at the last minute, but as the government had already indicated, the last date for filing returns was not extended. There was a demand to increase the deadline for filing tax returns from a large number of people and financial institutions, but the government ignored them by taking a tough decision.

Many people complained about the glitches in the e-filing website and demanded extension of the tax filing deadline, but the government categorically denied them saying that this time the government has no plan to extend the date of ITR filing.  ‘#Extend_Due_Date_Immediately’ was trending on Twitter for several days but there was no response from the government and finally the deadline for filing income tax returns did not extend.

What will those who have not filed returns by July 31, 2022, do now?

Those who have not yet filed returns waiting for the extension of the deadline from the government, now they will have to file their return with fine. By paying the fine amount, people will now be able to file their returns by 31 December 2022. In such a situation, it is important to know that after the last date for filing returns, what are the options left for those who have not filed returns yet and how they will be able to file their return? Let us know what will they have to do to file their return now?

ITR has to be filed with late fee under provision 139(4) of Income Tax Laws
If you have missed the date of 31st July 2022 for filing these tax returns, then you can file your return with late fee under section 139(4) of the Income Tax Act till 31st December 2022. For this, you will have to pay a fine of Rs 1000 to Rs 5000.

Who will have to pay a fine of one thousand rupees?

If your annual income is less than Rs 5 lakh and you have not yet filed your income tax return, then you can file your ITR between today and 31 December 2022 by paying a fine of Rs 1000. However, if your annual income is less than the basic exemption limit (Rs 2.5 lakh), then you will not have to pay a single rupee as penalty.

Who will have to pay a fine of five thousand rupees?

If a person’s annual income is more than Rs 5 lakh and he has not yet filed his income tax return, then he will now have to pay a late fee of up to Rs 5000 to file his return. Now the calculation of interest will start from today on the amount of Rs. In such a situation, they will also have to first pay the late fee, their outstanding tax and the amount of interest charged thereon for filing income tax return by December 31. Those who have not filed their return under 139(1) on time will now have to pay interest at the rate of 1% per month on the tax liability on them for filing the return.

How to get refund if return is not filed even by December 31, 2022?

If you have to take refund from Income Tax Department and you have not filed your return by 31st July 2022, then you can claim your refund by filing the return with penalty by 31st December 2022. Even if you have not filed your return by 31st December 2022, you can still get a refund but for that you will have to roll a lot of papads. You have to appeal to the Commissioner of Income Tax of your area to get the refund. They may allow you to file the return even after that if the reason for not filing your return is justified.

Verification deadline reduced On the other hand, the Central Board of Direct Taxes has reduced the ITR verification deadline. According to CBDT, now instead of 120 days, only 30 days will be available for ITR verification. This information has been given by issuing a notification on behalf of CBDT. Explain that after filing ITR, it is necessary to verify it. Without this the process of ITR is not complete. In the notification issued by the CBDT, it has been said that now it will have to be verified within 30 days of filing the return.

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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

1. E-Verification of ITR completes the return filing process.
2. If the e-verification of ITR is not done within the stipulated time, the ITR is considered invalid.
3. 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.
4. 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.
5. 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.
6. 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.
7. “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.
8. 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.
9. 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.
10. 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.

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