CBDT reduces time limit to verify ITR from 120 days to 30 days

Notification no. 5/2022, dated 29-07-2022

The Central Board of Direct Taxes (CBDT) has decided to reduce the time limit for e-verification or submission of ITR-V in respect of any electronic furnishing of return of income. The CBDT has notified that the time limit for e-verification or submission of ITR-V shall now be 30 days from the date of filing of return of income. The earlier taxpayer was allowed 120 days to verify e-filed returns.

The revised time limit of 30 days shall be applicable for ITR filed on or after 01-08-2022. The earlier time limit of 120 days would continue to apply if the return of income is electronically filed before 01-08-2022.
The CBDT has also clarified that:

(a) Where ITR is e-verified/ITR-V submitted within 30 days from the date of filing of the electronic return, the date of filing of return of income shall be considered as date of furnishing of return of income.

(b) Where ITR is e-verified/ITR-V submitted beyond the time limit of 30 days from the date of filing of the electronic return, the date of e-verification/ITR-V submission shall be considered as the date of furnishing of return of income. Accordingly, all consequences of late filing of return shall follow.

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