ITR Filing: After filing Income Tax Return, the period of verification of return has been reduced from 120 days to 30 days. That is, if the ITR verification is not done within 30 days, then the income tax return filed by you will be called invalid. Actually CBDT (Central Board of Taxes) has announced this by issuing a notification.
Verification required within 30 days
According to the notification issued by the CBDT, any taxpayer who files income tax return on or after August 1, 2022, will have to verify the return within 30 days. Earlier, for filing income tax return, verification had to be done within 120 days.
CBDT issued notification
In its notification, the CBDT has said that if the ITR-V is submitted within 30 days of filing the income tax return, i.e. verification of the income tax return is done, then the return will be considered filed. But if the verification is done after 30 days of filing the income tax return, then it will be assumed that the income tax return was not filed at all. After this, the taxpayer will have to file the income tax return again and verify it within 30 days.
Applicable to those filing ITR from August 1, 2022
However, for those who have filed income tax returns by July 31, 2022, the verification period will be 120 days. Let us tell you that online verification can also be done after filing income tax return.