ITR-V Significance, Time Limit, and Manner of Sending ITR V
ITR-V aka Income Tax Return-Verification Form which an assess needs to send to the CPC of the Income Tax Dept. Office withing 120 days of E-Filing of Return, only in case he files return without Digital Signature.
What Exactly is ITR-V?
- ITR-V stands for ‘Income Tax Return – Verification’ form.
- This form is received when you e-file without using a digital signature (in case you have submitted your Income Tax Return using your Digital Signature, you won’t be required to sign ITR V Acknowledgement and send the same to the Income Tax Dept as your Income Tax Return would have been signed digitally using your Digital Signature).
- Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature (More than 80% of the Indians don’t have Digital Signatures and file their Income Tax Returns without using Digital Signatures and send theITR V Acknowledgement Form by post).
- On receipt of ITR-V you have to sign the copy and submit to the Income Tax Department to complete the filing process.
- The ITR V Acknowledgement Form is send to the email id of the Assessee as per the records of the Income Tax Department i.e. the email id which you entered at the time of creating your user-id and password on www.incometaxindiaefiling.gov.in
What steps are to be followed when I e-file without using a Digital Signature?
When you e-file without using a Digital Signature, you receive ITR-V as an attachment in the e-mail sent by the Income Tax Department. Since the return you filed was not signed, your filing is still incomplete. To complete the return filing process, follow the below mentioned steps –
- Print and sign ITR-V.
- Do not fold this signed ITR-V. Enclose the same in A-4 size envelope.
- Mail the envelope within 120 days of e-filing to –
- Upon receipt of ITR-V, Income Tax Department will send an e-mail acknowledging the receipt of signed copy of ITR-V. This is your acknowledgement and in case the Form is not received by the Income Tax Dept. within 120 days, they do send a reminder email for the same.
- Your filing is now complete.
Income Tax Department CPC
Post Box No.1,
Electronic City Post Office,
Bangalore 560100, Karnataka.
If assessee filed the return and sent the acknowledgement and the same was not received by the department.
A recent BOMBAY HIGH COURT judgement has clarified the doubts regarding the submission of ITR acknowledgement at Bangalore. HC held that:
Where assessee filed return electronically and had also submitted ITR-V form by ordinary post, department could not treat return as invalid on ground that ITR-V form had not been received by CPC, Bangalore.
You can also yourself check the ITR V Receipt Status Online on the efiling website of the Income Tax Dept. – https://incometaxindiaefiling.gov.in/portal/Services.do?screen=itrvReceiptStatus
Points to be noted while sending ITR V
- ITR V Acknowledgement Form should be printed in Black Ink only
- Please do not print any watermark on the ITR Acknowledgement Form. The only permissible watermark is of the Income Tax Dept. which is printed automatically on each form.
- Only A4 Size sheets should be used
- Avoid typing anything on the back of the print of this form
- In case you are submitting original as well as Revised Return, do not print them back to back. Use 2 separate papers for printing ITR –V Acknowledgements separately.
- Please do not submit any other document/form/annexure/covering letter etc. along with the Covering Letter
ITR Acknowledgement Not Received on Email
In case you have not received your ITR Acknowledgement by email, you can login to your account on www.incometaxindiaefiling.gov.in through which your Income Tax Return was uploaded online and download as explained below
After logging in to your Account, Click My Account > My Returns. Select the Year for which you want to download the ITR V and click submit. On submitting these details, the portal will show you the Date on which the Return was filed, the efiling acknowledgement no., the email id on which ITR V has been sent and the option of downloading it.
Can I submit ITR-V anywhere else in India?
No, you cannot. You have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above.
Is there any time limit for submitting ITR-V to Income Tax Department?
Yes, you should mail your ITR-V within 120 days of e-filing your return.
What if I do not submit ITR-V within 120 days?
If you miss submitting your ITR-V within 120 days, your e-filing will be considered as null and void. It means that it will be considered that you have not yet filed your return. In such a case you will have to file revised return, get a new ITR-V and submit the same within 120 days.
What is the Last Date for filing an Income Tax Return?
The Due Date of filing your Income Tax Return for a financial year is 31st July after the end of the financial year.
Does that mean that I cannot file return after the last date mentioned?
No, it does not mean so. You can file return after the last date also. However, in such case you will have to pay penal interest @ 1% per month for late filing. In case you have not filed your Income Tax Return for the financial year ended on 31st March, 2012 till 31st July, 2012, still you can file the same till 31st March, 2013. You may be required to pay Interest. Further, in case you have still missed to file your Income Tax Return by 31st March, 2013, you can still file the same till 31st March 2014, beyond which the return will become time barred and you would not be able to file the same. Assessing Officer may require you to pay penalty up to Rs.10,000 for late filing of Income Tax Return.