Income Tax Return: If you have not yet verified your ITR Details, then today is the last day. You can finish this work soon. Taxpayers who file ITR late in the country have the last chance for verification today, it is known that today, January 31, 2023 is the deadline for this work, which is going to end. Know what is the whole process and who needs it, see…..
time was extended by 30 days
According to the rules, the last date for filing ITR by paying penalty for the financial year 2022-23 was 31 December 2022. Then the Central Board of Direct Taxes extended the time of 30 days to verify taxpayers ITR details. After which this deadline has been extended till January 31, 2023, which is ending today.
so much time
Earlier, the deadline to verify ITR was 120 days, but, for late ITR filers, for those who file revised and updated ITR, this deadline is 30 days.
This is how you do verification
You have to verify ITR details even for those who file Updated ITR and Revise ITR. Today is the last day for this work. Verification can be done both online and offline. To verify late filed ITR Revise or Updated ITR, taxpayers can verify through the official website of the Income Tax Department https://www.incometax.gov.in/iec/foportal/ by choosing the e-verify option. For this, you will get OTP on your registered mobile number, which you will have to submit and apply.
Submit declaration for offline
On the other hand, for offline ITR verification, the tax payer will have to go to the nearest income tax office and give a declaration to verify all the information in the ITR. In which it will be written that the information given in the ITR is completely true and correct.
here comes the problem
The Central Board of Direct Taxes has said in its notification that ITR verification is mandatory. Every taxpayer is required to verify the information given in the ITR. That is why ITR verification is done. In the absence of verification, ITR will be considered invalid. In such a situation, the Income Tax Department can also issue notices to the taxpayers.
So many people did not fill the return
The date for filing income tax return for the financial year 2020-21 and assessment year 2021-22 was 31 December 2021. Till December 31, a total of 5.89 crore taxpayers have deposited their income tax. While 5.95 crore taxpayers had filed returns for the financial year 2019-20. If you look at the figures, about 6 lakh people have not submitted income tax returns for the assessment year 2021-22.
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