It is compulsory to verify your ITR within 120 days of the filing date. But what if you didn’t verify your tax return and the due date is over? What can be done in such a scenario? Read this post to find out.
According to the tax rules in the country, taxpayers should mandatorily verify their Income Tax Return (ITR) online or offline by filing ITR-V within 120 days from the date when they filed the returns. If a tax return is filed but not verified, it will be treated as invalid by the tax department. Further, non-verified ITRs will not be processed, and tax refunds, if any, will not be paid.
While ITR verification is a critical step of the returns filing process, what if someone forgets to verify their tax return? Is it possible to verify ITR after the 120-day deadline? Take a look-
Does the Income Tax Department Allow Post-Deadline ITR Verification?
Under Section 119(2)(b) of the IT Act, the tax department has the authority to accept claims and applications for deductions, exemptions, refunds, or any other form of tax relief even after the due date specified in the Act. However, this is generally only possible if there is a valid reason for the delay.
In other words, if you didn’t verify your ITR within the deadline due to a valid reason, it is still possible to get the verification done.
How to Verify ITR After the 120-Day Period?
To verify ITR after the prescribed time limit, a taxpayer must file a ‘Condonation Delay Request’ online. While filing the request, the reason due to which the ITR was not verified on time should be mentioned in detail. Then it is up to the tax department to accept or reject your request.
The tax department generally accepts delay requests if-
- The claim is correct and genuine
- Any other individual is not assessing income for which the ITR is filed
- The taxpayer had a genuine reason for not verifying ITR within the deadline
How to File a Condonation Delay Request Online?
Here are the steps you can follow for filing the delay request online-
- Visit https://eportal.incometax.gov.in/iec/foservices/#/login and log in to your account
- Under the “Services” tab, look for the “Condonation Request” option
- On the next page, choose “Delay in Submission of ITR-V” as the request type and click on “Continue”
- Select “Create Condonation Request” on the next page
- Choose the “Acknowledgment No.” for which you are filing the delay request
- Enter the reason for your delay and click on “Submit”
- If everything is in order, then you will see a “Submitted Successfully” message on the screen
By logging into your tax account, you can click on “Condonation Request” under the “Services” tab to check the status of your condonation request. If the tax department accepts your delay request, then you can re-file your ITR and complete verification. If the returns filing due date is over, then you can file a belated ITR and pay the applicable penalty.
What If the Tax Department Rejects Your Condonation Delay Request?
As mentioned above, a non-verified income tax return in India is considered invalid. If the tax department does not accept your condonation request, then the consequences would be similar to not filing tax returns.
This could lead to a penalty, or the taxpayer could also be imprisoned as not filing tax returns can be considered a form of tax evasion.
Always Verify Your Tax Returns
Verifying your tax returns is the last and most crucial step of the returns filing process. As can be seen above, without verification, your ITR would be considered invalid, and this could lead to severe outcomes.
If you failed to verify your ITR for a genuine reason, then you can file a condonation request by following the steps listed above. In all the other cases, ensure that you compulsorily file ITR-V online or offline to complete the returns filing process.