The CBDT said that E-verified/ITR-V submitted after 30 days, will be considered as ‘Delayed filing’ and not Invalid ITR.
The CBDT has announced that the time limit for verifying an income tax return (ITR) has been reduced to 30 days (from 120 days) after electronically transmitting the ITR data.
This was announced by the CBDT in a notification issued on July 29, 2022.
This notification will be effective from August 1, 2022.
The CBDT said that E-verified/ITR-V submitted after 30 days, will be considered as Delayed filing and not Invalid ITR.
CBDT said that in respect of any electronic transmission of return data on or after the date of the notification coming to effect, the time limit for e-verification or submission of ITR-V shall be now 30 days from the date of transmitting/uploading the data of return of income electronically.
However, the CBDT said that ITR e-verified beyond 30 days will treated as ITR filed on the date of e-verification and all consequences of late filing under the Act shall follow.
CBDT clarified that where the return date is electronically transmitted before the date on which the notification comes into effect, the earlier time limit of 120 days would continue to apply in respect of such returns.
This notification will come to effect from 01.08.2022
https://cacmacsyouth.com/wp-content/uploads/2022/08/order-of-ITR-V.pdf