Submit Your ITR as Incomplete Within 30 Days After This Date to Finish the Return Filing Procedure
In India, it's crucial for taxpayers to verify their Income Tax Returns (ITR) within 30 days of uploading the return to avoid penalties and keep the return valid. Here's a breakdown of the key details surrounding this process.
Verification Period and Consequences
To ensure the validity of the ITR, verification must be completed within 30 days of filing. Failure to do so may result in the return being considered invalid, attracting penalties under the Income Tax Act, including late filing consequences.
Methods for Verification
Taxpayers can electronically verify their returns using several methods: OTP on their Aadhaar-registered mobile number, EVC through pre-validated bank accounts, EVC through pre-validated Demat accounts, EVC through ATMs, or Digital Signature Certificate (DSC). Alternatively, a duly signed physical copy of the ITR-V form can be sent by post to the Centralised Processing Centre (CPC) in Bengaluru.
Timeline for FY 2024-25
For the fiscal year 2024-25 (Assessment Year 2025-26), the last date to file ITR for non-audit taxpayers is 15th September 2025. The 30-day verification period begins from the return upload date within this timeline.
Important Statistics
As of the current ITR filing season for Assessment Year 2025-26, 2.51 crore returns have been filed. Of these, 2.43 crore have already been verified, and 1.13 crore verified returns have been successfully processed. The income tax portal currently has a total of 13.21 crore individual registered users.
Unrelated News
In an unrelated event, a bizarre scene occurred during the London Spirit vs Oval Invincibles The Hundred match at Lord's, as Fox interrupted the game.
One-time Relaxation and Extended Deadline
There is a provision for one-time relaxation for earlier assessment years, but this does not apply if the department has already taken steps to enforce filing. The income tax return filing deadline has been extended to September 15, 2025, for all those taxpayers for whom it was earlier July 31, 2025.
Additional Information
If the ITR-V is submitted after 30 days of uploading, the date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income. Conversely, if submitted within 30 days, the date of uploading is considered as the date of furnishing the return of income. The date on which the duly verified ITR-V is received at CPC shall be considered for the determination of the 30 days.
The Reserve Bank of India (RBI) has maintained a neutral policy stance, with the Repo Rate steady at 5.5%. Meanwhile, US President Donald Trump has hinted at a potential successor, stating that Vice President JD Vance is favored but it's "too early" to decide. Lastly, OpenAI has released a significant new AI tool since ChatGPT.
- To stay updated on the latest financial news, taxpayers might consider the personal-finance section of their favorite news outlet, which could provide insights on the deadline extension for Income Tax Returns (ITR).
- In addition to sports events like the bizarre incident at Lord's, business news may also cover important developments such as the Reserve Bank of India (RBI) maintaining a neutral policy stance and hints from US President Donald Trump about a potential successor.
- For taxpayers with an interest in both sports and personal finance, they might find it beneficial to check both their favorite sports news and financial news outlets, as the one-time relaxation rules for ITR filing could impact their personal-finance planning.
