The Central Board of Direct Taxes (CBDT) has reduced the deadline for verification of Income Tax Returns (ITR) to 30 days from 120 days earlier.
The reduced time limit of 30 days is applicable on ITR filed on and after August 1, 2022, The CBDT announced this through a notification issued on July 29, 2022. This notification will come into effect from August 1, 2022. The earlier deadline of 120 days from the date of filing of ITR was up to July 31, 2022 for the ITRs filed and included. Released as per CBDT Notification

As per the latest notification of Income Tax Department, “It has been decided that in respect of any electronic transmission of return data on or after the date of commencement of this notification, the time-limit for e-verification or submission of ITR-V Now 30 days from the date of transmission/uploading of data in return of income electronically.

“The date of transmission of data electronically shall be the date of furnishing of return if Form ITR-V is submitted within 30 days from the date of transmission of data electronically. If Form ITR-V is submitted after the above period , it shall be deemed that the return in respect of which Form ITR-V has been filled was never submitted and the same shall be binding on the assessee to electronically retransmit the data and new within 30 days. Follow up by submitting Form ITR-V,” it added

As per the notification, it has further clarified the below points:

• Where ITR data is transmitted electronically and e-verified / LTR-V is submitted within 30 days of transmission of data – in such cases return of income is required to be furnished on the date of transmission of data electronically. date will be considered.
• It is clarified that where the return data is transmitted electronically before the effective date of this notification, the earlier time limit of 120 days in respect of such returns shall continue to apply.
• Where ITR data is transmitted electronically but is e-verified or submitted beyond the time limit of 30 days from the date of transmission of ITR-V shall be deemed to be the date of furnishing of return of income and all consequences of late filing of return under the Act shall be complied with.
• ITR-V in the prescribed format and duly attested in the prescribed manner should be sent by Speed ​​Post only to 7. Centralized Processing Centre, Income Tax Department, Bengaluru – 560500, Karnataka.
• For the purpose of determining the period of 30 days from the date of transmission of the data of Income Tax Return electronically, the date of dispatch of speed post of ITR-V, duly attested, will be considered.

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What happens if ITR-V is submitted after 30 days?

If Form ITR-V is submitted after the mentioned period, it will be deemed that the return for which Form ITR-V was filed was never submitted (the tax department will not take it for processing), and The assessee will be required to retransmit the data electronically and follow up by submitting a new Form ITR-V within 30 days.

Read also:
How to Verify ITR: 6 Ways to Verify Income Tax Return

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How to check ITR-V receipt status without logging into your e-filing account