new Delhi : The Income Tax Department on Sunday urged taxpayers to verify their tax returns for assessment year 2020-21 before February 28, the last date for the same.
Verification of tax returns filed either electronically or online is required by sending a signed physical copy of the return as it is a way of declaring the veracity of the information in the return as a legal requirement.
“Don’t miss the last chance to verify your ITR for the election year 2020-21. ITR filing is incomplete if not verified. The last date for verification of AY 2020-21 is 28 February 2022,” the department said in a tweet.
If the tax return is not verified on time, the return is treated as ‘not filed’ and will attract all the consequences of not filing the tax return. However, one can request an apology for the delay in verification. After submission of such request, the taxpayer will be able to e-verify the return. But the refund will be considered valid only if the condonation request has been approved by the tax authority.
Tax returns are usually certified within four months of filing the return. As a one-time relief, the department in December allowed taxpayers to authenticate returns for AY21 through electronic means including an Aadhaar-linked one-time password or physically by end-February 2022, the tax department’s centralized return processing facility in Bangalore. by sending a copy.
The additional time to regularize the returns was given as an opportunity to resolve the grievances of the taxpayers. When the relief was granted, the department clarified that this exemption is not applicable in cases where, during the intervening period, the department has already resorted to some other measure to ensure the filing of tax return by the taxpayer. Already happened.
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