Quick Summary
The Central Board of Direct Taxes (CBDT) has issued a significant notification, No. 2 of 2024, dated March 31, 2024, pertaining to the time limit for verifying income tax returns after uploading. This notification carries implications for taxpayers across the country, affecting the process of income tax return filing and verification. In pursuance of the powers conferred underRule 14of theCentralised Processing of Returns Scheme, 2011,Notification No. 05 of 2022 dated July 29, 2022was issued
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
FAQ :
From April 1st, 2024, taxpayers must verify their income tax returns within 30 days of uploading them.
If you e-verify or submit your ITR-V within 30 days of uploading, the date of uploading will be considered the date of furnishing your return.
If you verify your return or submit your ITR-V after 30 days of uploading, the date of verification/submission will be treated as the filing date, and late filing consequences may apply.
If your income tax return is not verified within the 30-day period, it will be treated as invalid.
You can e-verify your return immediately upon filing, which is the most recommended method. Alternatively, a duly verified ITR-V can be sent via post to the Centralised Processing Centre, Income Tax Department, Bengaluru - 560500, Karnataka.
This notification is applicable for income tax returns uploaded or submitted on the e-filing portal from April 1st, 2024.
CAclubindia
