News of work, if you have done ITR file then definitely do this work otherwise all the hard work will be in vain
Filing ITR is not enough, it is also very important to get it verified after filing ITR, the time limit for verification has been reduced from 120 to 30 days.
The last date for filing income tax for the financial year 2021-22 has ended with the end of the previous month i.e. 31st July 2022. According to the Income Tax Department, a total of 5.78 crore taxpayers had filed their ITR till 11 pm. Even after this, it is not enough for the taxpayers to file ITR only. It is also very important to get it verified after filing ITR. If ITR verification is submitted after the stipulated time, it will be deemed that ITR has not been submitted for the same. The tax department will not process it.
Let us tell you that the process of ITR filing is not considered valid till the verification is done. Without verification, timely filled ITR also becomes useless. Taking a big decision on this verification, the Central Board of Direct Taxes has reduced the deadline for verification of Income Tax Return (ITR) from 120 to 30 days. But be aware that the 30-day deadline will be applicable to those ITRs which have been filed on or after August 1, 2022. For this, CBDT had issued a notification ten days ago i.e. on July 20, 2022, stating that the deadline of 120 for verification of ITR filed till July 31, 2022 would remain intact.
As per the recent notification of Income Tax Department, it has been decided that in respect of any electronic transmission of return data on or after the effective date of this notification, the time limit for e-verification or submission of ITR-V is now 30 days from the date of verification or submission.
You can use Net Banking, Aadhar OTP, Bank Account, ATM, Demat Account and offline methods for verification. Any person can get ITR verified with the help of 6 methods. For this NetBanking, Aadhar Key OTP, Bank Account, Demat Account, ATM and Offline can be used.
It is to be noted that the date of filing IT return varies according to the category of the taxpayer. Salaried individuals have to file income tax returns by 31 July while corporates and businessmen have to file returns by 31 October.
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