What is itr-v, time limit, where to submit and what if not s

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What is ITR-V, Time Limit, where to submit and what if not submitted within time - courtesy Ankitha Singhvi

What is an ITR-V?

  • ITR-V stands for ‘Income Tax Return – Verification’ form.
  • This form is received when you e-file without using a digital signature.
  • Income Tax Department needs to verify the authenticity ofincome tax return when filed online without using a digital signature.
  • On receipt of ITR-V you have to sign the copy and submit to the Income Tax Department to complete the filing process.

 What steps are to be followed when I e-file without using a Digital Signature?

When you e-file without using a Digital Signature, you receive ITR-V as an attachment in the e-mail sent by theIncome Tax Department. Since the return you filed was not signed, your filing is still incomplete. To complete the return filing process, follow the below mentioned steps –

  • Print and sign ITR-V.
  • Do not fold this signed ITR-V. Enclose the same in A-4 size envelope.
  • Mail the envelope within 120 days of e-filing to –
    Income Tax Department CPC
    Post Box No.1,
    Electronic City Post Office,
    Bangalore 560100, Karnataka.
  • Upon receipt of ITR-V, Income Tax Department will send an e-mail acknowledging the receipt of signed copy of ITR-V. This is your acknowledgement.
  • Your filing is now complete..

Can I submit ITR-V anywhere else in India?

No, you cannot. You have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above.

Is there any time limit for submitting ITR-V to Income Tax Department?

Yes, you should mail your ITR-V within 120 days of e-filing your return.

What if I do not submit ITR-V within 120 days?

If you miss submitting your ITR-V within 120 days, your e-filing will be considered as null and void. It means that it will be considered that you have not yet filed your return. In such a case you will have to file revised return, get a new ITR-V and submit the same within 120 days.

The due date for submission of ITR-V for A.Y. 2011-12 has been extended upto 31.03.2012 or 120 days from the date of upload whichever is later .

What is the Last Date for filing an Income Tax Return?

The Due Date of filing your Income Tax Return for a financial year is 31st July after the end of the financial year. Thus, for financial year ended on 31st March, 2012, the due date of filing Income Tax Return is 31st July, 2012.

Does that mean that I cannot file return after the last date mentioned?

No, it does not mean so. You can file return after the last date also. However, in such case you will have to pay penal interest @ 1% per month for late filing. In case you have not filed your Income Tax Return for the financial year ended on 31st March, 2012 till 31st July, 2012, still you can file the same till 31st March, 2013. You may be required to pay Interest. Further, in case you have still missed to file your Income Tax Return by 31st March, 2013, you can still file the same till 31st March 2014, beyond which the return will become time barred and you would not be able to file the same. Assessing Officer may require you to pay penalty up to Rs.10,000 for late filing of Income Tax Return.



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CA Student

Would like to add something to this post. If assessee filed the return and sent the acknowledgement and the same was not received by the department.

A recent BOMBAY HIGH COURT judgement has clarified the doubts regarding the submission of ITR acknowledgement at Bangalore. HC held that:

Where assessee filed return electronically and had also submitted ITR-V form by ordinary post, department could not treat return as invalid on ground that ITR-V form had not been received by CPC, Bangalore.

Crawford Bayley & Co. V Union of India

Attached File : 555789_894500_itr_v_cpc_received.pdf




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