The Central Board of Direct Taxes has published the Notification on 29th July 2022 in which the time limit for E verification of Income tax returns have been reduced. In the notification, it has bee notified that the time limit for sending the signed ITR V through speed post for verification of the Income tax return have been reduced to 30 days with effect from 01-08-2022. Now, it says that where the signed ITR V has reached the CPC within 30 days of electronically transmitting the Income tax return, then the date of the electronic transmission of the ITR shall be considered as the date of filing the ITR, however, if the signed ITR V reaches the CPC after the stipulated 30 days then the date of receipt of the ITR V shall be considered as the actual date of furnishing the ITR electronically and the provisions related to late fee shall follows.
This is to clarify that the ITR filed till 31-07-2022 have the time limit of 120 days of sending the signed ITR V to the CPC for verification of the Income tax returns. The upcoming provision for the verification of the Returns shall be effective from the Income tax returns filed after 31-07-2022.
To access the notification, click here E verification Notification
