ITR 2020-21: Major Relief By Income Tax Dept, Provides One-Time Relaxation

New Delhi: In a latest tweet, the Income Tax department said that CBDT has decided to provide one-time relaxation for the verification of e-filed ITRs which are pending e-verification. The last date to file ITR for AY 2021-22, however, still is December 31, 2021. Taxpayers have been struggling to e-file ITR for the year 2021-22 due to glitches in the portal.Also Read – ITR 2021: List Of Documents Required To File Income Tax Return

CBDT provides one-time relaxation for verification of e-filed ITRs for AY 2020-21 which are pending for verification due to non-submission of ITR-V form or pending e-Verification.
Circular No.21/2021 dated 28/12/2021 issued & is available on:https://t.co/TVbE7NJquy

— Income Tax India (@IncomeTaxIndia) December 28, 2021

Also Read – Over 4.67 Crore ITRs Filed so Far, 15.49 Lakh Alone in Single Day: CBDT

The circular issued by CBDT said, “It has been brought to the notice of Central Board of Direct Taxes (‘Board’) that large number of electronically filed ITRs for the Assessment Year 2020-21 still remain pending with the Income-tax Department for want of receipt of a valid ITR-V Form at CPC, Bengaluru or pending e-Verification from the taxpayers concerned. In law, consequences of failure to verify the ITR within the time allowed is significant as such an ITR is/can be declared non-est. Thereafter, the consequences for non-filing an ITR, as specified in the Income-tax Act,1961 (‘the Act’) follow.” Also Read – Income Tax Return: Taxpayers Face Massive Technical Glitches on New Portal, Demand Extension of ITR Filing Deadline

ITR 2020-21: February 28, 2022, Is The New Deadline

In the case of ITRs that are filed electronically without an electronic signature, taxpayers need to verify it within 120 days using data like Aadhaar OTP, EVC through Bank ATM etc. The returns now have to be filed by February 28, 2022.

The circular further said, “In respect of all ITRs for Assessment Year 2020-21 which were uploaded electronically by the taxpayers within the time allowed under section 139 of the Act and which have remained incomplete due to nonsubmission of ITR-V Form pending e-Verification, the Board , in exercise of its powers under section 119(2)(a) of the Act, hereby permits verification of such returns either by sending a duly signed physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC/OTP modes as listed in para 1 above. Such verification process must be completed by 28.02.2022.”