The last date for filing income tax return has passed. However, you can still file your income tax return, but for this you will have to pay a penalty. At the same time, many people have filed their ITR, but their e-verification has not been done yet. With the help of this article, we will let you know what is the time limit for e-verification and what will happen if it is verified after 1 month?
Reduced limit of e-verification
Actually, the Income Tax Department has reduced the time limit for e-verification of ITR or submission of hard copy to 30 days. In such a situation, taxpayers will have to get e-verification done within one month of completing the process of filing ITR. In the notification issued by the department, it has been clearly stated that the new change will be the time limit for e-verification of ITR.
If the income tax return is filed electronically and ITR-V is done within 30 days of submission of data, the date of electronically transmitting the data will be considered as the date of submission of ITR.
Also Read: ITR Filing: No Late Penalty for Missing 31 July Deadline for These People
What will happen if ITR-verification is done after 30 days?
It is known that income tax return is transmitted electronically, but if its e-verification or ITR-V is presented after 30 days of data transmission, then in such cases the date of submission of e-verification / ITR-V will be considered as the date of submission of income tax return. Therefore you will have to face a penalty.
It is known that till 31 July 2024, the number of ITR filers was more than 7 crores. However, many lakh people have not yet filed their income tax returns.