CHANGE IN TIME LIMIT TO VERIFY THE INCOME TAX RETURN

Why is e-verification of an ITR necessary?

E-verification of an ITR completes the return filing process and if it is not done within the stipulated time, an ITR is treated as invalid. The department issued a notification on July 29, 2022 announcing the change in the timeline.

The Income Tax department has reduced the time limit for e-verification or hard copy submission of the ITR-V, post filing of returns by taxpayers, from the current 120 days to 30 days, beginning from 1 August, 2022.

July 31 was the due date to file income-tax returns (ITRs) for the assessment year 2022-23. For returns filed before July 31, the time limit for verification of ITR is up to 120 days from the date of filing.

However, the tax department reduced it to 30 days from the date of filing if the return is filed on or after 1 August, 2022.

What are the different ways in which I can e-Verify my returns?

You can e-Verify your returns online using:

• OTP on mobile number registered with Aadhaar
• EVC generated through your pre-validated bank account
• EVC generated through your pre-validated demat account
• EVC through ATM (offline method)
• Net Banking
• Digital Signature Certificate (DSC)

Offline verification

Those who wish to send the ITR-V in a hard copy can send it through the usual address through "speed post only" to: "Centralised Processing Centre," Income Tax Department, Bengaluru-560500, Karnataka.

 
For more details, Please watch our video