ITR verification is the last step in income tax return filing. The process will be considered complete only after verification. After this step the person becomes eligible to get ITR refund.
There is a big update for Income Tax Return (ITR) filers. Even after filing ITR (income tax return), an important step remains. We are talking about ITR verification. Without ITR verification, your income tax return will be considered incomplete. Let me tell you, the last date to file ITR without penalty was 31 July 2023.
ITR verification is mandatory within 30 days.
According to the notification issued by CBDT, any person will have to get the ITR verified within 30 days of filing it. Last year, CBDT had reduced the time limit for verifying ITR from 120 days to 30 days. If a person does not do the verification within the stipulated time limit, he will have to pay late fee.
ITR verification is the last step in income tax return filing. The process will be considered complete only after verification. After this step the person becomes eligible to get ITR refund. Let us tell you, if a person does not verify the ITR within the stipulated time limit. Then his ITR will be treated as cancelled. Also, he may have to pay a penalty of up to Rs 5000.
How can a person do e-verification? (ITR verification process)
E-verification can be done through Aadhaar OTP. Along with this, e-verification can also be done through net banking. Or ITR-V copy can also be verified by sending it to Bengaluru office.
