Income Tax News: The income tax department has added “Discard ITR,” a new feature, to its website. Taxpayers will be able to delete their previously submitted Income Tax Returns (ITRs) that were not verified thanks to this new feature.
All About Discard ITR Feature
To answer frequently asked questions about the Discard ITR Option, the tax department has published FAQs. Here’s everything you need to know about the recently added ability for taxpayers to discard their unverified income tax returns (ITRs) on the income tax website.
- If taxpayers do not wish to verify their ITRs, they may choose to “Discard” them under ITR filing procedures under sections 139(1), 139(4), and 139(5).
- On the other hand, if the “ITR filed u/s 139(1)” is rejected and the following return is submitted after the u/s 139(1) deadline, it will result in consequences for filing a late return, such as 234F, etc.
- On the income tax website, users can follow the designated pathway to access the ‘Discard’ option. The “Discard” option can be accessed through the income tax portal at www.incometax.gov.in → Login → e-File → Income Tax Return → e-Verify ITR.
- Only those with an ITR status of “unverified” or “Pending for verification” are eligible to use this option.
- For as long as the ITR status is unverified or pending verification, users may repeatedly use the discard option.
- This option is only available until the deadline for filing an ITR under sections 139(1), 139(4), and 139(5), which is currently the 31st of December of the relevant AY.
- An ITR that has been discarded cannot be reinstated, making the action final and effectively renouncing the ITR’s filing.
What is Discard ITR?
Beginning with the assessment year 2023–2024, users will be able to ‘Discard ITR’ for unverified original, delayed, or revised ITRs thanks to this new feature. The income tax department made a wise decision by expanding the opportunity for taxpayers to amend their income tax returns, which was previously restricted to omissions and errors. However, since there is currently no legal provision allowing for the ITR to be deleted, its continued legality may be called into question.
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