The Income Tax Department has appealed to the people who have filed ITR to verify their ITR before the deadline. Failure to do so will make the ITR invalid. The deadline for verification is fixed.
New Delhi: According to the Income Tax Department, the deadline for filing ITR for the financial year 2022-23 and assessment year 2023-24 is over for taxpayers. The Income Tax Department has appealed to the people who have filed ITR to verify their ITR before the due date. If this is not done, the ITR will be considered invalid.
According to the Income Tax Department, till July 31, the last date for the financial year 2022-23, more than 6.77 crore ITRs have been filed, out of which 5.63 crore ITRs have been e-verified. Whereas, out of the total verified ITRs, more than 3.44 crore i.e. more than 61 percent ITRs have also been processed.
ITR will be invalid if not verified
The Income Tax Department has appealed to the taxpayers who have filed ITR to verify the tax return. Verifying ITR means that you are confirming that all the details given regarding income or otherwise are completely correct. After the ITR is verified, the Income Tax Department processes it for further processing.
Taxpayers may have to pay 5 thousand fine
As per income tax rules, ITRs that are not verified are considered invalid. In such a situation, filing ITR becomes useless. In such a situation, taxpayers have to file belated ITR, for which a penalty of up to Rs 5,000 may have to be paid. To avoid such a situation, make sure to e-verify the ITR.
Deadline to verify ITR
According to income tax rules, after filing ITR, taxpayers get 30 days to verify. During this, it is necessary to verify ITR. Taxpayers who have filed ITR on 31st July will have to e-verify ITR before 31st August. If this does not happen, ITR will have to be filed again, which is called belated ITR.
How will ITR be verified?
- The Income Tax Department has given 6 options to taxpayers to verify ITR.
- Taxpayers can do e-verification by visiting the official website of the Income Tax
- Department https://www.incometax.gov.in/iec/foportal/ and clicking on the e-verify option through the OTP received on the registered mobile number.
- Taxpayers can also verify ITR through bank account generated EVC.
- With the help of demat account, the process of e-verification can also be completed through EVC.
- Taxpayers can also verify ITR through EVC from ATM.
- Taxpayers can also verify ITR with the help of netbanking.
- E-verification of ITR can also be done through Digital Signature Certificate.
