31 lakh ITR filers are not yet eligible for Income Tax Refund and they have themselves to blame!

financialexpress.com:

Income Tax Return Verification and Refund News (August 24): Many taxpayers submit their returns on the e-filing portal of the Income Tax Department before the due date but forget to verify. As per tax rules, all ITR filers are required to verify their returns within 30 days. When a taxpayer fails to verify his/her ITR, such return is not taken for processing and may result in non-issuance of tax refund (if applicable).

ITR verification is a simple process that doesn’t take more than a few minutes when done online (see below). However, data till August 23 shows more than 31 lakh taxpayers are yet to verify their returns.

According to data on the Income Tax website, more than 6.91 crore returns have been filed till August 23 but only 6.59 crore returns have been verified by taxpayers. As the 30-day time limit for return verification is about to end in a few days, the Income Tax department on Wednesday alerted taxpayers on the X platform (formerly Twitter) to complete the verification.

Also Read: Can you save tax by using your wife’s bank account for investing in mutual funds and stocks?

“Dear Taxpayers, Complete your e-filing process today! Do not forget to verify your ITR within 30 days of filing. Delayed verification may lead to levy of late fee in accordance with provisions of the Income-tax Act, 1961. Don’t delay, verify your ITR today,’ the Income Tax Department said.

Dear Taxpayers,

Complete your e-filing process today!
Do not forget to verify your ITR within 30 days of filing.
Delayed verification may lead to levy of late fee in accordance with provisions of the Income-tax Act, 1961.

Don’t delay, verify your ITR today! pic.twitter.com/NQt2fArOBW

Non-verification of ITR not only delays refunds but such returns