ITR verification: All income tax returns filed last year, whose verification is still pending either due to non-submission of ITR-V or by not doing e-verification, those people on February 28, 2022 can verify it. The tax department had said this through a circular issued on December 28, 2021. Apart from this, once the ITR is certified, the tax department will complete the processing of these tax returns by June 30, 2022.
Verify has to be done within 120 days
Under income tax rules, ITR has to be verified within 120 days of filing. If ITR is not verified, it is treated as a ‘Defective Return’. That is, ITR of such ITR will not be done by the tax department till it is verified. In this case, it will be assumed that you have not filed income tax return for that year.
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The Income Tax Department in its recent tweet said, “Don’t miss this opportunity to verify your ITR for AY 2020-21. ITR filing is incomplete till it is not verified. The last date for verification is February 28, 2022.”
Verification required for return filing
In a circular issued on December 28, the Tax Department said: It has come to the notice of the Central Board of Direct Taxes that a large number of electronically filed ITRs for the assessment year 2020-21 are valid till CPC, Bangalore. 5 receipts are still pending due to non-availability or their e-verification has not been done by the taxpayers. If ITR is not verified within the time limit, such ITR is considered as un-filed. After this action is taken under the Income Tax Act, 1961.
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CBDT gave one-time relief
In this context, it was decided by the Board to provide one-time relief for submission of ITR-5 or e-verification to address the grievances of taxpayers related to non-verification of ITR for the assessment year 2020-21. Also, all ITRs for the assessment year 2020-21 which were uploaded electronically by the taxpayers in time and are incomplete due to non-submission of ITR-5 or non-verification of ITR-5 should be sent to CPC or through EVC/OTP modes. Verification has been granted. This verification should be completed by February 28, 2022.
How to Verify ITR
There are six ways in which ITR can be verified, which are as follows:
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