ITR: Missed verifying your income tax return? Here's what you can do now?
Demand is inaccurate, yet you accept a modification After choosing "Demand is incorrect but you agree to an adjustment," pick the pertinent justifications from the list, complete all the fields, add the appropriate documentation, and then click "Submit."
After the filing deadline of July 31 expired, taxpayers have an additional 30 days to review their ITR. The Income Tax Department also sent notices to the taxpayers before to the next verification deadline of August 30.
The submission date will be taken into account as the real ITR filing date in cases where someone filed their ITR form by the deadline and finished the verification process within the next 30 days. The date of e-verification will be taken into account as the date of return submission, albeit, if the verification phase is skipped.
There aren't many ways out of this one, which makes it a hard position. Here's what you can do if you've also missed the 30-day cutoff for finishing the e-verification phase.
What should I do if I cannot validate my ITR?
Income tax returns that are not submitted on time will be deemed invalid and subject to penalties under the Income Tax Act of 1961.
Anyone who doesn't check the ITR within the allotted period would be fined Rs 5,000, according to the Income Tax Department. The late fee will only be Rs 1,000 if the taxpayer's income for the entire financial year is less than Rs 5 lakh.
Additionally, by providing a valid justification, taxpayers who wish to verify their returns beyond the deadline may also ask for a delay in verification to be excused. Taxpayers cannot e-verify their returns after filing requests; they can only do so when the relevant Income Tax authority has given its approval.
How may a delay in ITR verification be excused?
Through the Income Tax Department's e-filing system, a person may request a condonation if they failed to validate their income tax returns by the deadline within 30 days after filing.
1. Visit https://www.incometax.gov.in/iec/foportal, the e-filing website. and use your login information
2. Click 'Condonation Request' under 'Services' on the 'Dashboard'.
3. Choose the 'Delay in submission of ITR-V' option on the Condonation Request page.
4. Select Continue.
5. Click "Create Condonation Request" as soon as the page loads, and a new page will emerge.
6. Select the specific record for which you wish to request a pardon on the "Select ITR" screen and click "Continue."
7. Type your justification for the delay and click Submit.
Finally, you will see the Transaction ID on the screen and a confirmation message.