On 13th July, 2020 Income Tax Department has issued circular providing relaxation for verification of
Income Tax Returns.
Whenever any ITR return is filled then in that case assessee is required to send ITR Form-V (Acknowledgement of ITR) so that department can process ITR filed by such assessee. In case if such acknowledgement is not furnished to department within 120 days from date of filling of ITR then such ITR becomes invalid; however, department also provides facility to file an online request for condonation of delay in case if ITR Form-V has been received by department after 120 days. One of the facility that is provided to taxpayers is that they can verify there ITR through digital signature also, and department provides other modes such as
- Through Aadhaar OTP
- By logging into e-filing account through net banking
- EVC through Bank Account Number
- EVC through Demat Account Number
- EVC through Bank ATM
so that ITR furnished by the assessee can be processed by the department.
Relaxation by Government
There are many cases that ITR has been uploaded electronically on time but the copy of ITR-V is not send to CPC, Bengaluru or it is not e-verified due to which the Income Tax Return becomes invalid. The tax payers have been facing issues as their Income Tax Return becomes invalid only because of the reason of pending e-verification or not submission of hard copy. To overcome this problem, government has provided one time relaxation wherein ITR-V for earlier Assessment Years (i.e. for 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20) which were uploaded electronically by tax payers within time allowed under Section 139 of the Act, and which have remained incomplete due to non-submission of ITR-V for verification or pending e-verification, can now be complied either by sending a duly signed physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC/OTP modes. Such verification process must be completed by 30.09.2020.
Further this relaxation will not be provided to assessee who’s return has already considered as invalid and were department has already initiated other course of action.
Question that may arise
Question: Mr. R has furnished return of income pertaining to F.Y. 2017-18 and A.Y. 2018-19; however, he has not electronically verified the same and has also not send the ITR-V Form. Department has not initiated any process against it, what are the relaxation that is provided by government?
Answer: According to this circular Mr. R can avail benefit of relaxation and can now verify its ITR through 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.
Question: Mr. D has furnished return of income pertaining to F.Y. 2018-19 and A.Y. 2019-20; however, he has not electronically verified the same and has also not send the ITR-V Form. Department has not initiated process against but his return was considered as invalid to due to non-filing of ITR-V Form then, what are the relaxation that is provided by government?
Answer: According to this circular Mr. D can avail benefit of relaxation and can now verify its ITR through 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.
Question: Mr. G has furnished return of income pertaining to F.Y. 2018-19 and A.Y. 2019-20; however, he has not electronically verified the same and has also not send the ITR-V Form. Department has initiated process against him after considering ITR as invalid, what are the relaxation that is provided by government?
Answer: In this case assessee will not be able to claim benefit of relaxtion which has been provided by the government