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Verification Of Income Tax Returns Significant Rule Change. Find Out More.

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BvsuAABScsP0QAAAABJRU5ErkJggg== Verification Of Income Tax Returns Significant Rule Change. Find Out More.

The time limit for e-verification or hard copy submission of tax return filing has been decreased from 120 days to 30 days by the Income Tax department.

Beginning on August 1, the Income Tax department has decreased the window of time for e-verification or hard copy submission of the ITR-V, post-filing taxpayer returns, from 120 days to 30 days.

The agency announced the modification in the timeframe in a notification on July 29.

The final step in the return filing procedure is ITR e-verification; if it is not done within the allotted period, an ITR is regarded as invalid.

The announcement said that the time limit for e-verification or submission of ITR-V would now be 30 days from the date of transmitting/uploading the return data electronically, “regarding any electronic transmission of return data on or after the date of this notification comes into effect.”

It said that the injunction is effective as of August 1.

Until recently, after submitting an Income Tax Return (ITR), you had 120 days from the date of uploading the ITR to e-verify the ITR or mail the ITR-V.

The warning made it clear that returns would be considered late or past due if the ITR’s e-verification or hard copy ITR-V were received through the mail after 30 days.

ITR-Vs can be sent to the Centralized Processing Center, Income Tax Department, Bengaluru-560500, Karnataka, at the customary address with “speed post only.”

It stated, “To determine the 30 days, from the date of sending the Income-tax return electronically, the date of shipment of speed post of fully validated ITR-V must be regarded.”

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