The Income Tax Department Has Provided Some Relief Ahead Of The Deadline For Submitting ITR’s

The Central Board of Direct Taxes (CBDT) has announced a one-time relaxation for verification of all e-filed Income Tax Returns (ITRs) awaiting verification and processing for the assessment year 2020-21.

The taxpayer must verify an Income-tax Return (lTR) that is filed electronically without a digital signature using any of the options within 120 days of the date of uploading the ITR. Aadhaar OTP, logging into e-filing account through net banking, EVC through Bank Account Number, EVC through Demat Account Number, EVC through Bank ATM, and mailing a validly signed physical copy of ITR-V to the CPC, Bengaluru is some of the options.

The CBDT highlighted that a considerable number of electronically filed ITRs for the assessment year 2020-21 are still pending with the Income-tax Department due to a lack of a valid ITR-V Form at CPC, Bengaluru, or pending e-Verification from the taxpayers.

The Board has decided to grant a one-time relaxation for ITR-V/e-Verification submissions in order to address taxpayers’ concerns about non-verification of ITRs for the Assessment Year 2020-21 and to regularise such ITRs that have either become non-est or have remained pending with the Income-tax Department due to a lack of receipt of respective ITR-V Forms or pending e-verification.

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