The CBDT has extended a one-time relaxation for verification of e-filed tax returns for assessment years 2015-16 to 2019-20.
A circular by the Central Board of Direct Taxes (CBDT) on Monday said that that a large number of electronically filed ITRs still remain pending with the Income Tax Department for want of receipt of a valid ITR-V Form at CPC, Bengaluru from the taxpayers concerned.
CBDT has permitted verification of such returns either by sending a duly signed physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC or OTP. Such verification process must be completed by September 30.
“In law, consequences of non-filing the ITR-V within the time allowed is significant as such a return is/can be declared ‘Non-est’ in law, thereafter, all the consequences for non-filing a tax return, as specified in the Income-tax Act, 1961 (Act) follow,” it said.
