ITR Filing Latest Update: Income Tax Department has now reduced the time limit for ITR e-Verification. Earlier, 120 days were available for e-verification after filing ITR, but now it has been reduced to 30 days. It has become effective from today i.e. August 1.
The Central Board of Direct Taxes (CBDT) has issued a notification stating that the deadline for verification of Income Tax Return (ITR) has been reduced from 120 days to 30 days after transmission of ITR data electronically. Is. It has become effective from today i.e. August 1.
“CBDT in its latest notification has said that if Form ITR-V is submitted within 30 days from the date of transmission of data electronically, the data shall be the date of furnishing of return electronically. If Form ITR-V is submitted after the aforesaid period, it will be deemed that the return in respect of which Form ITR-V has been filed was never submitted and the same will be sent to the Assessee for re-transmittance electronically. will be obliged. data and follow it up by submitting a new Form ITR-V within 30 days.
This notification will be applicable for electronically transmitted Income Tax 9 return data filed on the e-filing portal (www.incometax.gov.in).
It was informed by the Income Tax Department that the deadline for filing income tax returns by taxpayers who have not got their accounts audited for the financial year ended March 31, 2022 was July 31. More than 68 lakh income tax returns were filed till 11 pm on Sunday.
As per the latest notification, the Income Tax Department has given further clarifications on these points.
- It has been decided that in respect of any electronic transmission of return data on or after the effective date of this notification, the time limit for verification or submission of ITR-V shall now be 30 days from the date of dispatch/upload. Will be. Income return data electronically.
- It is clarified that where the return data is transmitted electronically before the effective date of this notification, the earlier time limit of 120 days in respect of such returns shall continue to apply.
- Where ITR data is transmitted electronically and e-verified / LTR-V is submitted within 30 days of transmission of data – in such cases the return of income is required to be furnished on the date of transmission of the data to the Vidyut Sahayak. date will be considered. Where ITR data is transmitted electronically but e-verified or through ITR-V.
- Where ITR is submitted beyond the time limit of 30 days from the date of transmission of data – in such cases the date of submission of e-verification/ITR-V shall be the date of furnishing of return of income and all consequences of late filing will be considered as The return under the Act will follow.
- For the purpose of determining the period of 30 days from the date of transmission of the data of Income Tax Return electronically, the date of dispatch of speed post of ITR-V, duly attested, will be considered.
