Reduction of time limit for verification of ITR-V Acknowledgement from 120 days to 30 days
CBDT has reduced the time limit for verification of ITR-V Acknowledgement from 120 days to 30 days of transmitting/filing of ITR electronically. Notification No. 05 of 2022 dated 29th July 2022 has been issued to notify the changes made in this regard
Earlier, Central Board of Direct Taxes (CBDT) vide Circular No. 3/2009 dated 21 05-2009 notified the new Income Tax Return (ITR) forms for Assessment Year 2009-10 and provided the facility of furnishing ITR as under:
(i) Furnishing the return in paper form
(ii) Furnishing the return electronically under digital signature
(iii) Transmitting the data in the return electronically and thereafter submitting the verification of the return in form ITR-V to CPOC within 30 days after transmiting the data electronically
(iv) Furnishing a bar coded return in paper form.
The time limit for submitting the form ITR-V Acknowledgement was 30 days after the date of filing of ITR electronically, However, the CBDT had extended the time-limit for fling ITR-V to 120 days from the date of uploading the return of income vide Press Release dated 27.01.2010.
Now, in respect of any electronic filing of return on or after 29th July 2022, the time-limit for e-verification or submission of ITR-V shall be 30 days.
However, where the return is electronically filed before the 29th July 2022, time limit shall remain 120 days in respect of such returns.
It has been further clarified:
(i) Where ITR data is electronically transmitted and e-verified/lTR-V submitted within 30 days of transmission of data -in such cases the date of transmitting the data electronically shall be considered as the date of furnishing the return of income.
(ii) Where ITR data is electronically transmitted but e-verified or ITR-V is submitted beyond the time-limit of 30 days of transmission of data -in such cases the date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow.
Duly verified ITR-V in the prescribed format and in the prescribed manner should be sent by speed post only to
Centralised Processing Centre,
Income Tax Department,
Bengaluru -560500, Karnataka
The date of dispatch of Speed Post of duly verified ITR-V shall be considered for the purpose of determination of the 30 days period, from the date of transmitting the data of Income-tax return electronically.