CBDT through circular no. 13/2020 dated 13th July 2020 has provided one-time relaxation for Verification of income-tax returns for the Assessment Years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which was filed but verification was pending.
An online electronically filed income tax returns are required to be verified either electronically by EVC / OTP or by sending manually signed ITR-V to CPC, Bangalore. Normally, an online e-filed return is required to be verified within 120 days of electronic filing of return of income. In certain cases like in case of companies and assessees who are subject to compulsory tax audit are mandatorily required to file ITR with the digital signature.
Now any taxpayer whose ITR is pending for verification can verify their ITR on or before 30th September 2020.
Methods to verify the Income-Tax Return:
- Through Aadhaar OTP
- By logging into e-filing account through net banking
- EVC through Bank Account Number
- EVC through Demat Account Number
- EVC through Bank ATM
All such verified ITRs shall be processed on or before 31 December 2020.
This relaxation shall not apply in those cases, where during the intervening period, Income-tax Department has already taken recourse to any other measure as specified in the Act for ensuring filing of tax return by the taxpayer concerned after declaring the return as Non-est.
In case the taxpayer concerned does not get his return regularized by furnishing a valid verification (either ITR-V or EVC/OTP) by 30.09.2020, necessary consequences as provided in law for non-filing the return may follow.
https://www.incometaxindia.gov.in/communications/circular/circular_13_2020.pdf