Income Tax Return filed but not verified ? Here is the good news for you !

The CBDT has given one-time relaxation vide circular 13/2020 dated 13th July 2020, to verify pending Income-tax returns, filed for the Assessment Years 2015-16 to 2019-20, which are pending for processing at CPC due want of valid ITR-V form. Taxpayers are allowed to verify such returns either by sending signed copy of physical ITR-V form or through prescribed EVC/OTP modes by 30-09-2020
Income Tax Return filed but not verified

A return of income (ITR) filed by the taxpayer is not valid until it is verified by the assessee. A taxpayer should verify return either electronically using E-Verification Code (EVC) or sending physical signed copy of ITR-V to CPC, Bangalore within 120 days from the date of uploading the ITR on e-filing portal.

Most of the times assessee forget to e-verify ITR after uploading it on e-filing portal. If return is not verified within 120 days the return shall be treated as an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the return. In nutshell , ITR filed but not verified shall be treated as return never been filed and all provisions of the act related to non filing of the ITR will be attracted.

The CBDT noticed that large number of ITRs are pending for processing for due to non-verification. As a one-time measure CBDT has allowed assessees to verify returns which are filed electronically within time allowed under section 139 but not verified within 120 days. Accordingly ITR filed for assessment year 2015-16 to 2019-20 can be verified on or before 30th September 2020.


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