New Delhi: The Income Tax department has given a one-time relaxation to taxpayers, who have not e-verified their income tax returns (ITRs) for 2019-20 fiscal, to complete the verification process by February 28, 2022.
As per IT norms, ITR, filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, net-banking, code sent through demat account, pre-validated bank account or ATM within 120 days of filing the return. The assessees can also send physical copy of the ITR to the Centralised Processing Centre (CPC) office in Bengaluru.
If the verification process, which is done through ITR-V form, is not complete, it is considered that the return has not been filed.
As per a circular of the Central Board of Direct Taxes (CBDT) on Tuesday, a large number of ITRs filed electronically for assessment year 2020-21, remain pending with the IT department for want of receipt of a valid ITR-V Form at CPC, Bengaluru or pending e-Verification from the taxpayers.
“In respect of all lTRs for 2020-21 which were uploaded electronically by the taxpayers within the time allowed… and which have remained incomplete due to non-submission of ITR-V Form… the Board… hereby permits verification of such returns either by sending a duly signed physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC/OTP modes. Such verification process must be completed by February 28, 2022,” The Print quoted the CBDT as stating.
However, the relaxation will not ne applicable in the cases, if the I-T department has already taken recourse to any other measure for ensuring filing of tax return during the intervening period.
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