Beginning on August 1, the Income Tax department has cut the time frame for e-verification or hard copy submission of the ITR-V, following the filing of returns by taxpayers, from the former 120 days to 30 days. The department issued the alteration in the time frame in a notification that was issued on July 29.
The final process in the return filing process is ITR e-verification; in any case, if it is not done within the allotted period of time, an ITR is regarded as invalid. The notification read, “It has been decided that in respect of any electronic transmission of return data on or after the date of this notification comes into effect, the time limit for e-verification or submission of ITR-V shall now be 30 days from the date of transmitting/uploading the data of return electronically.”
The government has stipulated two primary methods for verifying an ITR. First, one can conduct an online e-verification. Aadhaar-PAN or a bank account can all be used for this operation. Another alternative is to mail the ITR-V to the Bangalore headquarters of the Income Tax Department. The department has only granted 30 days for verification in either of the ways, which is the most crucial element. ITR-V must be delivered to the designated address within 30 days, even if you have to mail it. Simply filling out the ITR is not to be deemed complete if it has not been verified. The income tax return is incomplete if it is not e-verified.
If one prefers a hard copy for e-verification purposes, they can send their income tax return to the department office via fast post only. It will be declined if the taxpayer sends his ITR-V via courier or regular mail or any other means. The taxpayer may submit the ITR-V to the Centralized Processing Centre, Income Tax Department, Bangalore 560500, Karnataka.
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