Finish this Income Tax related work before January 30; Otherwise your ITR will be held Invalid

The Income Tax Department has now given those taxpayers until January 30, 2023 to complete the ITR verification process to Taxpayers who have filed their ITR upto December 31, 2022. This deadline has been given to those taxpayers who have filed belated ITR or revised ITR till 31st December 2022.

The Central Board of Direct Taxes has informed taxpayers that they must complete the verification of Income Tax Return (ITR) by January 30.

Citizens earning between Rs 2.5 lakh and Rs 5 lakh per year should file ITR, according to the Ministry of Finance. At the same time, those earning more than Rs 5 lakh per year are required to file ITR. The deadline for filing belated and revised ITRs with taxpayers for the financial year 2022-23 was December 31, 2022.

According to the Central Board of Direct Taxes (CBDT), taxpayers who filed late ITR or Revised ITR by paying a late fine until December 31, 2022, will be required to verify the information provided in the ITR. ITRs can be e-verified by taxpayers. The board has set January 30, 2023 as the deadline. That is, taxpayers will be required to verify ITR in all circumstances during the month of January. Otherwise, the Income Tax Department may send you a notice.

What if ITR is not verified?

The Central Board of Direct Taxes has stated explicitly in its instructions that if the ITR is not e-verified within the time limit specified, it will be considered invalid. That means that filing your ITR will be pointless.

Taxpayers must e-verify all information provided in the ITR by January 30, 2023. Inadequate compliance may result in income tax notices, legal action, or fines.

Verify ITR online

Taxpayers can use the online method to validate a late or revised ITR. To do so, the taxpayer must go to the Income Tax Department’s official website and complete the process by selecting the e-verify option.