File your ITR Hassle-Free and Maximise your Refunds
Trusted by 1 Million+ Users
4.8 Star User Rating
Authorized by Tax Department
Filed your return before the due date but forgot to verify before the expiry of the time limit? Then in such case, your ITR has become an invalid ITR and now you would have to file the ITR again. Surprised? Yes, you heard it right. Now, you need to file your ITR as a belated return. Don't know why? Let's get an insight into the matter:
Verification of ITR means to authenticate the ITR. In simple words, the Income-tax department asks you to verify the ITR so that it is confirmed that the ITR is filed by you only. Verification of ITR can be done online and offline. Online verification is also known as e-verification and can be done through various methods. In case of Offline verification, ITR V is to be sent by post to CPC, Bengaluru. To know more about ITR V, click here.
The time limit for verification is 30 days from the date of filing the return. Let's say you have filed the ITR on the due date i.e. 31st July then the last date to verify your ITR would be 31st August. Earlier this time limit was 120 days. However, as per the new amendment by CBDT, the ITR verification timeline has now been reduced to 30 days.
If the ITR is not timely verified then such return becomes invalid be it original or revised. So, all the hard work done to file your return in time goes in vain. It is considered as if you never filed the return for that year. Therefore, along with the timely filing of ITR timely verification is also necessary.
However, in some genuine cases where you could not verify your ITR on time, a condonation delay request can be filed on the income tax e-filing website. This is to avoid genuine hardship faced by the assessee.
Recently, the income tax department has launched a watermark facility on the invalid ITR V. Earlier, there was no such watermark. Now, the Invalid ITR V will always have a watermark stating Invalid on it.
Attention! Your ITR Verification is Pending
If you don’t verify your ITR within 30 days of e-filing, it is considered invalid, and may be liable to pay a late fee.
You can verify now with EVC through a Bank Account, Aadhaar OTP, EVC through a Demat account, and send a signed ITR-V to CPC Bengaluru through speed post.
*A late fee of Rs.1,000 or Rs.5,000 will be applicable as per section 234F of the Income Tax Act.
You may face the effects of an Invalid ITR at various places. Some of them are as follows :
Further, the point to be noted here is that even if the ITR is filed before the due date but not e-verified within the time limit then the ITR shall become invalid. Consequently, fees u/s 234F shall be levied for that ITR. So, be aware and don't fall prey to Sec 234F even after filing your ITR on time.
Here are the consequences if the taxpayers verify the return of FY 2023-24 beyond the time limit:-
| Returns filed electronically | ITR submitted but not verified within | Consequences |
|---|---|---|
| Up to 31st July 2023 | 30 days from the ITR filing date | No late fee charged |
| On or after 1st August 2023 | 30 days from the ITR filing date |
A late filing fee of up to Rs 5,000/ Rs 1,000 (as applicable) Interest at 1% per month on the outstanding tax as of 1st August 2023. |
Some people complete ITR verification by sending it to the Income Tax Department via Speed Post. The ITR-V must be signed in the signed form and submitted in the prescribed manner through speed post at the address “Central Processing Centre, Income Tax Department, Bengaluru, 560500, Karnataka.”
In such a case, the date of dispatch of the speed post is used for determining the 30-day timeline.
These rules are only applicable to the ITRs filed through electronic mode.
Verifying your return is equally important as filing your return. If the time limit to verify your ITR expires then the ITR filed will become Invalid and it will mean as if you have never filed it. So, you need to make sure you e-verify your ITR as soon as possible after filing your return. If you find filing ITR or e-verifying complicated, you can seek assistance from our expert CAs, who can help make the entire filing and e-verification process smoother.
Yes, even a revised income tax return has to be e-verified within 30 days of filing the ITR in order to complete the e-filing process.
The IRS will reach out to you through e-mail if there is a need for any additional supporting documents. If your filed ITR gets rejected, the IRS deems it as filed on time, if you immediately make the required changes and e-file it within 10 days.
