CBDT’s Announcement On Verification Of E-Filed Income Tax Returns; Check Details

New Delhi: The Central Board of Direct Taxes (CBDT) has notified  one-time relaxation for verification of all Income Tax Return (ITR) e-filed for the assessment year 2020-21 pending for verification and processing.

In respect of an Income-tax Return (lTR) which is filed electronically without a digital signature, the taxpayer is required to verify it using any one of the modes within the time limit of 120 days from date of uploading the ITR.

The modes include Aadhaar OTP, by logging into e-filing account through net banking, EVC through Bank Account Number, EVC through Demat Account Number, EVC through Bank ATM, by sending a duly signed physical copy of ITR-V through post to the CPC, Bengaluru.

The CBDT noted that a large number of electronically filed ITRs for the assessment year 2020-21 still remain pending with the Income-tax Department for the want of receipt of a valid ITR-V Form at CPC , Bengaluru or pending e-Verification from the taxpayers concerned.

In law, consequences of failure to verify the ITR within the time allowed is significant as such an ITR is/can be declared non-est. Thereafter, the consequences for non-filing an ITR, as specified in the Income-tax Act,1961 follow.

It has been decided by the Board to provide one-time relaxation for submission of ITR-V/e-Verification for resolving the grievances of the taxpayers associated with non-verification of ITRs for the Assessment Year 2020-21 and to regularize such ITRs which have either become non-est or have remained pending with Income-tax Department for want of receipt of respective ITR-V Form or pending e-verification.