Income tax return filing: Only 15 days left! Do this before September 30 to avoid penalty

Income tax return filing: It is the duty of every salary earner to file income tax returns. And, if you are an income tax payer, you need to complete a highly important task before September 30 to avoid penalty.

The taxpayers are supposed to complete the process within 120 days of having filed the return online. Source - PTI.

Income tax return filing: It is the duty of every salary earner to file income tax returns. And, if you are an income tax payer, you need to complete a highly important task before September 30 to avoid penalty. In wake of the pandemic, the Central Bank of Direct Taxes extended the relaxation for taxpayers who have not been able to complete e-verification filed for income tax returns (ITR) for assessment years 2015-16 to 2019-20.

The taxpayers are supposed to complete the process within 120 days of having filed the return online. In case they fail to do so, ITR is considered to be not filed and the assessee may face prosecution, penalty under various sections of the Income Tax Act for non-filing of return of income.

However, this year, CBDT extended ITR verification deadline till September 30. So, you still have 15 days to complete the entire process. return may be verified either by sending a signed copy of ITR-V to CPC, Bangalore through speed post/ordinary post or by e-verification through OTP.

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Income Tax return filing: How to verify?

Go to e-verify link, enter acknowledgement number

Select the option to e-verify using a bank account number and generate EVC. You will receive the EVC on your registered mobile number Enter this code on the portal to verify your return

Enter this code on the portal to verify your return

Using Aadhaar-based OTP

Click on 'e-Verify return' on the left-hand-side menu

Select the option to verify using Aadhaar OTP (only if Aadhaar-PAN linkage is already done)

Generate an OTP on your registered mobile number

Enter the OTP on the portal to complete the process

To recall, the deadline for availing the benefit of getting ITRs of previous years e-verified is September 30, 2020, the due of filing ITR for AY 2020-21 has been extended to November 30, 2020.

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