What To Do If You Miss the Income Tax Return Verification Deadline?

Understanding ITR Verification:

Verification of your income tax return marks the final step in the ITR filing process. Income tax laws require you to verify your ITR within 30 days from the date of filing. The Central Board of Direct Taxes (CBDT) shortened this verification period by 90 days, effective from August 1, 2022. Therefore, you must verify all ITRs filed on or after August 1, 2022, within 30 days from the date of submission.

Methods of Verifying ITR:

You have six ways to verify your ITR. You can do five of these electronically, and the sixth involves sending a physical copy to the Centralized Processing Centre (CPC) in Bengaluru.

Consequences of Not Verifying Your ITR:

If you fail to verify your ITR within the 30-day time limit, the income tax department will not treat your income tax return as a valid return. Furthermore, the tax department will not process your ITR if you have not verified it. Also, the income tax department will not issue any tax refund you claimed unless you have filed a verified ITR and the department has confirmed it after processing.

Filing a Condonation Delay Request:

If a genuine reason prevented you from verifying your ITR within the prescribed time limit, you can file a condonation delay request on the e-filing income tax portal. When filing such a request, you must explain why you did not verify your ITR within the specified time limit.

Please read the step-by-step process for filing delay condonation application in the below ripple.

Acceptance of Condonation Delay Request:

The income tax department will accept your condonation delay request if you meet the following criteria: a) Your claim is genuine and correct; b) No other person can assess the income for which you filed the tax return; c) You faced genuine hardship, which caused the delay in verifying your ITR.

Process of Filing Condonation Delay Request:

You can follow the steps on the new income tax portal to file a condonation delay request. After completing the process, you will see a success message with a Transaction ID. Keep a note of the Transaction ID for future reference. You will also receive a confirmation message on the email ID and mobile number registered with the e-Filing portal.

Tracking the Status of Delay Condonation Application:

You can track the status of your condonation request through the 'Condonation Request' under the 'Services' tab on the new income tax portal.

Consequences of Rejection of Condonation Delay Request:

If the income tax department rejects your condonation request, they will treat your non-verified return as an invalid return. This means you will face all the consequences of not filing a tax return. If the department does not grant your condonation request, you could face penal provisions. You could end up paying a penalty or even going to prison, as the department could treat not filing ITR as tax evasion.