Verify your income tax return (ITR) for FY 2022-23 by this date or it will be invalid
ITR verification time restriction from 120 days to 30 days from the date of return submission in order to speed up this procedure. The change came into effect from August 1, 2022.
According to the social media X(previously known as Twitter), “Dear Taxpayers, Do remember 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!”
For ITR that are being filed on July 28, one must ensure that their ITR is verified within 30 days from the date of submitting the same on the income tax portal. So, today is the last date for tax payers who have filed tax on July 28. If the ITR is not verified, then it will be assumed that taxpayer has not filed the ITR.
How to verify ITR? Here are 6 ways to verify income tax return
According to the requirements of the Income-tax Act of 1961, a late fee of up to Rs 5000 can be levied in the event that verification is delayed.
What will happen if e-verification or ITR-V is submitted beyond the time limit of 30 days?
According to the Income tax department FAQs, “Where ITR data is electronically transmitted but e-verified or ITR-V submitted beyond the time-limit of 30 days of transmission of data, in such cases the date of e-verification/lTR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow.”
Here's a look at the six ways you can verify your income tax return
Using Aadhaar OTP
To use the Aadhaar-based one-time password (OTP), your mobile number must be linked to Aadhaar and registered in the Unique Identification Authority of India (UIDAI) database, as
