CBDT Issues Clarification on Time Limit to Verify Income-Tax Returns

Notification No. 2 of 2024, dated 31-03-2024

The DGIT(Systems) vide notification No. 05 of 2022 dated 29.07.2022 specified the time limit for verification of Income Tax Return (ITR) as 30 days from the date of furnishing of ITR electronically.

Now, the Central Board of Direct Taxes (CBDT) has issued notification providing clarification regarding the 30-day time limit for verifying Income Tax Returns (ITRs). The notification provides as follows:

a) The date of uploading the ITR will be considered as the date of furnishing the return of income if e-verification/ITR-V of such return of income is submitted within 30 days of uploading.

b) The date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income if the e-verification/ITR-V is submitted 30 days after uploading the return. Accordingly, all the consequences of late filing of returns under the Income-tax Act shall follow.

It must be noted that the date on which the duly verified ITR-V is received at CPC shall be considered for the determination of 30 days from the date of uploading ITR. Earlier, the date of dispatch of Speed Post of duly verified ITR-V was considered to determine the 30-day time limit.

Further, it has been clarified that the return of income not verified under the prescribed time limit will be treated as an invalid return. This notification is applicable from 01.04.2024.

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