Page 2 - Electronic Verification Code News Today

Income Tax: ITR is required to be verified within 30 days of filing it, failing which will lead to the rejection of your ITR

Incase youve completed your ITR submission but have yet to verified it, there are three concerns that should be cause of your concern, check them out.  

The deadline for verification has been reduced from 120 days to 30 days. If the ITR is not verified within this period, it will be assumed that the taxpayer has not filed the ITR

Income tax filing: E-verification is required to complete the return-filing process, without which the I-T department will not process the returns

ITR E-Verify Through Aadhaar: This is the most common method of e-verifying your ITR.

One can do so by adding and validating a bank account. This account can also be used for receiving tax refunds. Heres how to add and validate a bank account.

Income Tax Return Filing 2023-24: The last date to file your Income Tax Return on time for the financial year 2022-23 is July 31, 2023. Filing your income tax return on time helps avoid a penalty charge from the Income Tax Department. Just before you finally click the button to submit your I-T returns on the incometax.gov.in website, it is important to run a final glance and go through a checklist to ensure accuracy., Business News, Times Now

As per the income tax laws, it is important to note that the income tax return (ITR) must be verified within 30 days (120 days earlier) of filing it. Thus, if you are using the physical method to verify your ITR (i.e., sending ITR-V to CPC- Bengaluru), then it is important to make sure that it reaches the income tax department on time. If ITR is not verified, it will be considered that ITR is not filed by you.

It is important to verify the income tax return to complete the ITR filing process. The CBDT via a notification reduced the time limit to verify ITR from 120 days earlier to 30 days or else return will be considered void/invalid. There are six ways to verify ITR. Out of these 6 ways, five are electronic methods and one is a physical method of verifying ITR.

The income tax return filing season is upon us. Most salaried individuals are eligible to file their tax returns using ITR-1 form. This tax return form is also known as Sahaj. However, not many people know the steps to file ITR-1 on the income tax e-filing portal. Here is a step by step guide of filing ITR-1 on the income tax e-filing portal.