Failed To Complete Verification After ITR Filing? Here Is What You Need To Do Now

The deadline for submitting Income Tax Returns (ITR) for FY 2022-23 (AY 2023-24) was July 31, 2023. However, simply filing your ITR before the deadline is not the final step. 

Verification is a crucial and obligatory part of the ITR filing procedure. Neglecting to verify your tax return will result in the invalidation of your ITR filing and may incur penalties for late submission.

Taxpayers were granted an additional 30 days to verify their ITR following the July 31 filing deadline. As the verification deadline of August 30 approached, the Income Tax Department also sent notifications to taxpayers.

In cases where an individual submits their ITR form within the deadline and verifies it within the subsequent 30 days, the submission date will be regarded as the official filing date. However, if verification is not completed, the e-verification date will be considered as the submission date.

Navigating this situation can be challenging with limited options available. If you've also missed the 30-day deadline for e-verification, here's the next course of action you can take.

What to do on the failure of verifying ITR?

If you have not verified your income tax return (ITR) on time, there are important consequences to consider under the Income Tax Act, of 1961.

1. Penalties: Failure to verify ITR within the set timeframe can result in fines. If your income exceeds Rs 5 lakh for the financial year, the fine is Rs 5,000. If your income is less than Rs 5 lakh, the fine is reduced to Rs 1,000.

2. Request for Delay: You can still verify your returns after the due date by providing a valid reason. Once you submit the request, you can e-verify your return only after it's approved by the competent Income Tax authority.

How to Seek Condonation For Delayed ITR Verification?

If you've missed the deadline for verifying your Income Tax Returns within 30 days of filing, you can submit a condonation request using the Income Tax Department's e-filing portal.

Here are the steps to request condonation for a delayed income tax return verification:

1. Go to the e-filing website at https://www.incometax.gov.in/iec/foportal/ and log in with your credentials.

2. On the 'Dashboard,' select 'Services' and click on 'Condonation Request.'

3. On the Condonation Request page, choose the 'Delay in submission of ITR-V' option.

4. Click on Continue.

5. When the page loads, click on 'Create Condonation Request,' and a new page will appear.

6. On the 'Select ITR' page, pick the specific record for which you want to request condonation and click 'Continue.'

7. Provide your reason for the delay and click Submit.

You will get a confirmation message along with the Transaction ID.

Also Read: Section 133(6) in The Income Tax Act: A Detailed Guide