One Time Relaxation for Verification of ITR which is Pending for Non-Filing of ITR-V

Issue:

Hitherto, Central Board of Direct Tax (CBDT) faced an issue that a large number of electronically filled ITR is pending for verification with the Income Tax Department (ITD), for those taxpayers who send their verification through signed physical copy of ITR V through post to the CPC, Bengaluru. Consequences of non-filing the ITR-V, in law, with in the time allowed is significant as such a return can be declared Non-Est in law and followed by all the consequences for non-filling a tax return, as specified in the Income Tax Act,196.

Relaxation:

  • CBDT as a onetime measures for resolving the grievances of the taxpayers associated with the non-filling/receiving of ITR-V for the earlier assessment years (i.e. Y 2015-16, AY 2016-17, AY 2017-18, AY 2018-19 and 2019-20) to regularize such return which have either becomes non-Est or have remained pending due to non-filing/receipt of ITR-V form permits verification of such return either by sending a duly signed physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC/OTP modes as listed above by 30.09.2020.
  • CBDT, also relaxes the time frame for issuing the intimation and direct that such return shall be processed by 31.12.2020 and intimation of processing of such return shall be sent to the taxpayer as per laid down procedure.
  • The above relaxation shall not apply in those cases, where during the intervening period, Department has already taken recourse to any other measures as specified in the act for ensuring filling of tax return by taxpayer concerned after declaring the return Non-est.
  • Necessary consequences to follow, in case taxpayer concerned does not get his return regularized by furnishing a valid verification by any of the mode stated above by 30.09.2020.

Source: Circular No. 13/2020 CBDT