One Time opportunity for Verification of previous year’s Income tax returns (‘ITRs’)

  • CBDT Notification providing relaxation for

– Central Board of Direct Taxes (‘CBDT’) has vide notification dated 13th July, 2020 has given one time relaxation for taxpayers who were not able to verify their returns or send hard copy of signed ITR to CPC, Bengaluru due to various reasons.

– As per the said notification, the taxpayer has been given the one time opportunity to verify the returns for Assessment Years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20, in case the same was not verified earlier for any reason.

  • Time limit provided for verification:

– The verification process must be completed by 30th September 2020.

  • Permissible mode for verification:

– Following Modes are specified for completing the verification :

  1. Through Aadhaar OTP
  2. By logging into e-filing account through net banking
  3. EVC through Bank Account Number
  4. EVC through Demat Account Number
  5. EVC through Bank ATM
  6. By sending a duly signed physical copy of ITR-V through post to the CPC, Bengaluru”
  • Our comments:

– This is a welcome step by CBDT, as it provides a window to the taxpayers to regularize their filed ITR pending for verification.

– This is a one time measure by CBDT to resolve the grievances of all the taxpayers associated with non-filing of the ITR. Thus, the taxpayer should take benefit of the relaxation and should verify the ITR, if the same is pending for verification.