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News INCOME TAX

  • Aug 01, 2022
  • ITR-V submission: Time limit for verifying ITR reduced to 30 days

    The Central Board of Direct Taxes (CBDT) has reduced the time limit for verification of income tax return (ITR) to 30 days from 120 days earlier. The reduced time limit of 30 days applies to ITRs filed on and after August 1, 2022. The CBDT announced this via a notification issued on July 29, 2022. This notification will come into effect from August 1, 2022. For ITRs filed up till and including July 31, 2022 the earlier time limit of 120 days from date of filing of ITR continues, as per the CBDT notification.