Verification of Return of Income After Uploading

Introduction

The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time limit for verification of Income Tax Returns (ITRs) after uploading1. This notification provides clarity on the consequences of late verification and outlines the prescribed procedure for ITR-V submission1.

Notification No. 02/2024 Dated 31st March, 2024

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Subject: Time limit for verification of return of income after uploading- reg.

In pursuance of the powers conferred under Rule 14 of the Centralised Processing of Returns Scheme, 2011, Notification No. 05 of 2022 dated 29.07.2022 was issued by the DGIT(Systems) specifying the time limit for verification of Income Tax Return (ITR) as 30 days from the date of transmitting the data of ITR electronically.

2. It is clarified that:

(i) Where the return of income is uploaded and e-verification/lTR-V is submitted within 30 days of uploading – In such cases the date of uploading the return of income shall be considered as the date of furnishing the return of income.

(ii) Where the return of income is uploaded but e-verification or ITR-V is submitted after 30 days of uploading – 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, as applicable.

3. The duly verified ITR-V in prescribed format and in the prescribed manner shall be sent either through ordinary or speed post or in any other mode to the following address only:

Centralised Processing Centre,
Income Tax Department,
Bengaluru - 560500, Karnataka.

4. The date on which the duly verified ITR-V is received at CPC shall be considered for the purpose of determination of the 30 days period from the date of uploading of return of income.

*5. It is further clarified that where the return of income is not verified within 30 days from the date of uploading or till the due date for furnishing the return of income as per the Income-tax Act, 1961 - whichever is later - such return shall be treated as invalid due to non-verification.

6. It is reiterated for the sake of assessee convenience that e-verification, immediately upon filing of the return is the most desirable action.

7. This Notification shall be applicable for returns of income uploaded/submitted on the e-filing portal (www.incometax.gov.in). This issues by the power conferred to the undersigned under the Rule 14 of Centralized Processing of Returns Scheme, 2011 (CPR Scheme 2011) dated 04.01.2012, notified by the CBDT Notification No. 02/2012- F.No. 142/27/2011-SO(TPL).

8. This notification will come into effect from 01.04.2024.

What will be the date of furnishing the return of income if ITR-V is submitted within 30 days of transmission of data?

Resolution: If ITR data is electronically transmitted and ITR-V is submitted within 30 days of transmission of data then in such cases the date of transmitting the data electronically will be considered as the date of furnishing the return of income.

What will happen if e-verification or ITR-V is submitted beyond the time limit of 30 days?

Resolution: Where ITR data is electronically transmitted but e-verified or ITR-V submitted beyond the time-limit of 30 days of transmission of data, in such cases the date of e-verification/lTR-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.

What is the address at which ITR-V needs to be sent?

Resolution: 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.

In case of ITR-V sent through speed post what date will be considered as a date for verification?

Resolution: 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.

Conclusion

Notification No. 2 of 2024 provides essential guidelines for the verification of Income Tax Returns, emphasizing timely compliance and adherence to prescribed procedures. Assessees are urged to ensure prompt e-verification or ITR-V submission within the stipulated 30-day period to avoid the consequences of late filing. By understanding and complying with the provisions outlined in the notification, taxpayers can contribute to a smoother and more efficient income tax filing process.