Home Web timeline Verification of the ITR period reduced to 30 days instead of 120 days: order from the IT department

Verification of the ITR period reduced to 30 days instead of 120 days: order from the IT department

0

The Income Tax Department has reduced the time for electronic verification or paper submission of ITR-V, after taxpayers have filed returns, from the current 120 days to 30 days, effective August 1.

The ministry issued a notification on July 29 announcing the schedule change.

Electronic verification of an ITR completes the process of filing the return and if not completed within the specified time, an ITR is considered invalid.

“It has been decided that with respect to any electronic transmission of declaration data from the effective date of this notification, the time limit for electronic verification or submission of the ITR-V will now be 30 days from the date of transmitting/uploading the return data electronically,” the notification reads.

He said the order would come into effect on August 1.

Until now, the deadline for electronically verifying the ITR or sending the ITR-V by post, after filing an income tax return (ITR), was 120 days from the date of uploading the ITR. ‘ITR.

The notification clarified that in the event that the electronic ITR verification or the hard copy ITR-V is mailed beyond the 30-day period, the return will be treated as late or beyond due date. ‘deadline.

Those who wish to send the ITR-V on paper can send it to the usual address by “express post only” at: Centralized Processing Centre, Department of Income Tax, Bengaluru-560500, Karnataka.

“The date of dispatch of the speed post of the duly verified ITR-V must be taken into account for the purpose of determining the period of 30 days, from the date of transmission of the date of the declaration of income by electronically,” he said. PTI NES RCJ

(Disclaimer: This story is auto-generated from a syndicated feed; only image and title may have been reworked by www.republicworld.com)