An opportunity Not to be Missed – CBDT have given Relaxation for Verification of Income Tax Return (ITR V)
here are lot many returns which are invalidated for the reason that the returns, ager filing, are not verified.
As a result, returns are neither processed and even refunds, whenever claimed, are also not issued. Even loan application made by assessee in such cases are refused as the returns are deemed to have been nor filed.
Here is an opportunity for all such taxpayers. CBDT through circular no. 3/2020 dated 13th July 2020 has given one time opportunity for all such taxpayers whose Income Tax Return’s was filed online but verification was pending.N
Now, such taxpayer whose ITR is pending for verification can verify their ITR on or before 30th September 2020.
ITR from FY 2014-15 to FY 2018-19 can be verified through this one time relaxation scheme
It may be noted that all such verified ITRs shall be processed on or before 31 December 2020.
Importantly, ITRs can be verified through EVC or by sending duly signed hard copy to CPC Bangalore.
Most importantly, if any proceeding has been started against taxpayers considering that return for such year has not been filed by taxpayer then benefit of relaxation can not be availed.