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Not done ITR verification for last year? Income tax dept is offering one-time relief

Not done ITR verification for last year? Income tax dept is offering one-time relief

If you have not verified your income tax return(ITR) for last year, i.e., FY 2019-20, then there is good news for you. The tax department via a circular dated December 28, 2021, has announced that all the income tax returns that were filed last year and are pending verification, either due to non-submission of ITR-V or e-verification, can be verified till February 28, 2022. Further, once the ITR is verified, then these tax returns will be processed by the tax department by June 30, 2022.

Under the income tax laws, an individual is required to verify ITR within 120 days of filing it. If the ITR is not verified, then it will be termed as ‘Defective Return’. Such an ITR will not be taken up for processing by the tax department till it is verified. It will be assumed that you have not filed your income tax return for that particular year.

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