The time frame for verifying an income tax return (ITR) has been shortened by the Central Board of Direct Taxes (CBDT) from 120 days to 30 days. For ITRs submitted on or after August 1, 2022, the 30-day time limit reduction is in effect. This was disclosed by the CBDT in a notification sent out on July 29, 2022. On August 1, 2022, this notice will go into effect.

The most recent notification from the income tax department states that “it has been decided that the time-limit for e-verification or submission of ITR-V shall now be 30 days from the date of transmitting/uploading the data of return of income electronically” in regards to any electronic transmission of return data on or after the date this Notification comes into effect.

According to the notification, the following things have been explained further:
As per the notification, if the ITR filed is verified (electronically or by sending ITR-V to ITD [CPC, Bengaluru)] before the time limit of 30 days, then the date on which the return was filed will be considered as the date of furnishing ITR.

However, if the ITR filed is verified [electronically or by sending ITR-V to ITD (CPC, Bengaluru)] beyond 30 days, then the date of ITR verification will be treated as the date of furnishing the Income Tax return. The taxpayer will have to bear all the consequences provided in the Income Tax Act for late filing the return.

Invalid Return

If ITR is not verified within given time limit the same shall become Invalid as if no return has been filed. However option to file condonation of delay shall be available with the assesse.

Condonation Delay request

In case there is a genuine reason due to which ITR was not verified within the prescribed time limit then an individual can file a condonation delay request on the e-filing income tax portal. At the time of filing such a request, an individual will be required to mention the reason explaining why ITR was not verified within a specified time limit.

The income tax department accepts condonation delay request if the criterion are met:

1. A claim is genuine and correct.
2. Income for which tax return is filed is not assessable in the hands of any other person.
3. There is genuine hardship faced by the taxpayer due to which ITR was not timely verified.

Other Relevant Points

1. If assessee is not e-verifying the ITR and choosing to send signed ITR-V to ITD then same shall be sent in the prescribed format and in the prescribed manner that through speed post only to
   Centralised Processing Centre,
   Income Tax Department,
   Bengaluru –
   560500, Karnataka.
2. 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.

To Download Official Notification. click here.

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