The Central Board of Direct Taxes (CBDT) has supplied one-time relaxation for verification of e-filed Income Tax Return (ITR) for the Assessment Year (AY) of 2020-21, the Income Tax Department stated.
Taxpayers must understand that the final date to provide ITR for AY 2021-22 is December 31, 2021.
"CBDT affords one-time rest for verification of e-filed ITRs for AY 2020-21 that are pending for verification because of non-submission of ITR-V shape or pending e-Verification," Income Tax India tweeted.
The decision has been taken after a big quantity of electronically filed ITRs for the AY of 2020-21 nevertheless continue to be pending with the Income-tax Department for want of receipt of a valid ITR-V Form at CPC, Bengaluru or pending e-Verification from the taxpayers concerned, the CBDT said in a declaration.
CBDT will offer one-time relaxation for submission of ITR-V/e-Verification for resolving the grievances of the taxpayers related to non-verification of ITRs for the AY 2020-21 and to regularize such ITRs.
WHAT IS E-FILED ITR VERIFICATION
For ITR that is filed electronically without a virtual signature, the taxpayer is required to verify it in the time restriction of 120 days from date of uploading the Income Tax Return.
Taxpayers can whole the verification procedure thru Aadhaar OTP, with the aid of logging into e-filing account via internet banking, by way of sending a duly signed physical replica of ITR-V via put up to the Income Tax Department Centralized Processing Centre in Bengaluru.