BackIf acknowledgement is not sent properly, tax return filed will be invalid
A common mistake that many taxpayers make is that they send ITR-V using a courier service, and not by ordinary or speed post service of India Post
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Delhi-based doctor Ashish Kumar received a message from the income tax department asking him to send a signed copy of his ITR-V (income tax return acknowledgement) to the department for the previous financial year. The message he received on his mobile phone read: “Non-receipt of ITR V for PAN: BDCXXXXX5B, AY: 2015 at CPC, Bengaluru. Please submit on or before 31 January 2016 else return will be invalid." Kumar claims he had filed his return online and had sent his ITR-V within a few days to the Centralised Processing Center (CPC) in Bengaluru. A possible reason for the ITR-V not reaching could be that it was lost it transit.
Many taxpayers report receiving such a message from the tax department. A common mistake that many taxpayers make is that they send the acknowledgement using a courier service, and not by ordinary or speed post service of India Post.
Another reason for receiving the message could be that you have not sent the acknowledgement yet. If the tax department does not receive your acknowledgment, the tax filing process will not be considered completed.
Therefore, if you, too, have received a message regarding ITR-V, send the signed acknowledgement to the tax department before 31 January 2016.
What is the process?
It is mandatory for all taxpayers with an annual total income above 5 lakh to e-file ITR. Even if an individual has an income below 5 lakh, but has a tax refund to claim, she, too, has to file her ITR online. Once filed online, the next step is to submit the ITR-V.
Earlier, there were two options: you could either verify the return online with a digital signature; or take a print out of the acknowledgement, sign it and mail it to the tax department via ordinary or speed post. The latter had to reach the department within 120 days of filing the ITR. Considering that most people do not have a digital signature, from assessment year 2015-16, the tax department has introduced e-verification of tax returns. You can do this either through Internet banking or by mentioning your Aadhaar number while filing your return. With e-verification, one need not mail ITR-V to the CPC in Bengaluru.
What you should do
Do keep in mind that if you had filed your return more than 120 days back, you may not be able to e-verify the acknowledgement. You should send your original ITR-V to CPC Bengaluru before 31 January 2016. Do remember to send it by ordinary or speed post, and not by courier. If you don’t send it before 31 January, your tax return will be considered invalid. In such a case, you will have to reassess your tax return and file a fresh one accordingly. You may not be able to avail benefits such as carrying forward of losses. Also, if you file a belated return, you will not able to revise it even if there is a mistake in it. The window for revised filing of returns exists only if you file within the stipulated deadline, which is usually 31 July. However, this assessment year, the last date was extended till 7 September 2015.
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