CBDT has announced a good news for all the tax payers who e-filed their tax return but failed to verify it. Under the earlier system of Income Tax Return e-filing where the tax return was filed electronically without a digital signature, tax payers had to take a print out of ITR-V and send it to CPC, Bengaluru within 120 days of filing return electronically. Tax payers often faced several difficulties in the process due to which they were granted relaxation from time to time in filing return for various Assessment Years. However, ITD still has a big backlog of several e-filed returns pending for verification due to need of a valid receipt for ITR-V form from tax payers. All those tax payers, whose ITR verification is pending for the AYs 2009-10 to 2014-15 have been asked to complete the verification process by August 31, 2016.
People can verify their Income Tax Returns by using Electronic Verification Code on ITD web portal. They can also do it by sending a bonafide copy of the ITR-V to CPC of ITD in Bengaluru through speed post by August 31, 2016.
This window is available for pending and non-est tax returns, meaning returns that do not exist. However, if the ITD has already taken action against concerned tax payer to ensure proper filing of tax return after declaring the return as non-est then, he cannot use this opportunity.
ITD has also specified that the time frame for issuing letter of intimation u/s 143(1) (which is sent to the tax payer informing that his return has been processed) for the returns governed by this relaxation will be issued by November 30, 2016.
Tax payers can also check their ITR-V status and find out whether it has been received by CPC by going to ITD e-filing website.
CBDT has clarified that this is the final opportunity for the tax payers to regularize their pending tax returns for the aforementioned period. Hence, if the tax payer fails to regularize his return within the allowed time frame, then he will be considered a non-filer and necessary actions under the law will be taken against him.