Four critical changes in ITR filing process this year that you should know

economictimes.indiatimes.com:

ITR filing process. It is important to know about these changes to avoid mistakes in completing the process. Following are four changes in the ITR filing process this year that you should know.1. Time to verify ITR after filing cut by 90 days It is important to verify one's ITR after it is submitted/filed on the income tax portal.

If the ITR is not verified, then it will not be considered as a valid return. The income tax department will not take up the ITR for processing if it is not verified. In August 2022, the income tax department reduced the time limit to verify ITR from 120 days earlier to 30 days — a reduction of 90 days.

Hence, now an individual has only 30 days to verify his/her ITR from the date of ITR submission. This reduction in time period was done last year after the deadline for filing of original (normal) ITRs was over. Therefore, it did not apply to people who filed before the ITR filing deadline of July 31, 2022.

However, this year the reduced time period will apply to all those filing ITRs. Also Read: Income tax dept reduces time limit to verify ITR Also Read: Missing ITR verification can cost you Rs 5,000 There are 6 ways to verify ITR. Out of this, four are electronic methods and one is physical.

An individual can use Aadhaar OTP, Bank/ATM/Demat EVC to verify ITR or send the physical ITR-V to the income tax department. Also Read: How to verify ITR? Here are six ways2. You can file ITR even if your PAN is inoperative An individual's PAN would have become inoperative from July 1, 2023 if was not linked with Aadhaar by that date.