From August 1, 2022, the income tax (I-T) department had mandated that taxpayers must verify their returns within 30 days from the date of filing to complete the process of return filing from the taxpayer’s end. 
From August 1, 2022, the income tax (I-T) department had mandated that taxpayers must verify their returns within 30 days from the date of filing to complete the process of return filing from the taxpayer’s end. It’s important for taxpayers to note that Union Finance Minister Nirmala Sitharaman has reduced the deadline for verifying your Income Tax Return (ITR) from 120 days to 30 days from the date of filing the return. If the ITR is not verified within this period, it will be assumed that the taxpayer has not filed the ITR. Therefore, it’s crucial to complete the verification process promptly after filing your returns.
From August 1, 2022, the income tax (I-T) department had mandated that taxpayers must verify their returns within 30 days from the date of filing to complete the process of return filing from the taxpayer’s end.
Suresh Surana, Founder of RSM India, said, “Non-verification of the ITR within the due time would entail consequences of late filing such as the taxpayer would be levied late fees of Rs 5,000 (restricted to Rs 1,000 if total income of the taxpayer does not exceed Rs 5 lakh) provided the time limit to file return for the financial year has already expired.”
What will happen if you have filed your return on July 31 and fail to verify by date August 30, 2023? If ITR data is electronically transmitted and ITR-V is submitted within 30 days of transmission of data, then the date of transmitting the data electronically will be considered as the date of furnishing the return of income. However, suppose such ITR-V is e-verified beyond the time limit of 30 days. In that case, the date of e-verification/lTR-V submission shall be treated as the date of furnishing the return of income, and all consequences of late return filing shall follow (provided such date of e-verification is after July 31).
Thus, if the taxpayer e-verifies the ITR data/return after 30 days of furnishing the return or August 30 (whichever is earlier), the date of such e-verification would be treated as the date of furnishing the return and the consequences as aforementioned would follow.
“It is pertinent to note that where the ITR has been filed but not verified, the taxpayer may opt for applying for condonation of delay as the Central Board of Direct Taxes (CBDT) has been given wide authority under section 119(2)(b) of the IT Act concerning the admission of an application or claim for any exemption, deduction, refund or any other relief after the expiry of the period as specified under the IT Act. However, accepting or denying such a request is completely at the discretion of the CBDT,” said Surana.
Ways to e-verify your ITR
ITR filing is incomplete until the returns are verified. The CBDT has provided several methods for taxpayers to e-verify their ITR, making the process more convenient and efficient. Raghuram Trikutam, CEO of Descrypt, said, "E-Verifying your Income Tax Return in India is a hassle-free process that ensures quick and secure compliance. With options like Aadhaar OTP, EVC through bank account or net banking, and Digital Signature Certificate (DSC), taxpayers can choose the method that suits them best."
Aadhaar-based OTP: One of the most common methods is the Aadhaar-based One-Time Password (OTP). However, to use this method, your phone number would have to be linked to your Aadhaar number. Additionally, your PAN must also be linked with Aadhaar. Once these prerequisites are met, you will receive an OTP on your phone number, which you can use to verify your ITR.
• Visit the official Income Tax Department (ITD) website and log in using your PAN (Permanent Account Number) and password
• Navigate to the "e-File" tab and select "Income Tax Returns" from the menu.
• Find and click on the "e-Verify return" option
• Choose the method of e-verification as "I would like to e-verify using OTP on the mobile number registered with Aadhaar."
• Click on "Generate OTP" to request a One-Time Password (OTP).
• You will receive the OTP on your mobile number that is linked to your Aadhaar
• Enter the received OTP into the required field on the website
• Click on "Validate" to complete the e-verification process for your ITR.
"Alternatively, one can e-Verify your ITR via Electronic Verification Code (EVC) through their bank account, net banking, or using a Digital Signature Certificate (DSC) if you have one,"said Trikutam
Net banking: Another method is through net banking. Many banks offer the facility to verify your income tax return through their net banking portals. After logging into your net banking, you need to select the 'e-Verify' option under the 'Tax' tab.
EVC through demat account: You can also e-verify your ITR using an Electronic Verification Code (EVC) generated through your pre-validated bank or demat account. The code is sent to your phone number and email ID. This can further be used for verification. You can generate the EVC via a bank ATM card for those who prefer offline methods. However, this facility is only available via limited banks.
Physical documentation process: Lastly, if none of the electronic methods is feasible, you can send a signed copy of ITR-V (Acknowledgement receipt) to the tax department. This physical verification method requires the document to be dispatched via ordinary post or speed post.
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