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Wednesday, February 26, 2014

CBDT Extends Time-Limit for Filing ITR-V Forms

The Central Board of Direct Taxes (CBDT) has extended the time-limit for filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns e-filed with refund claims within the time allowed under section 139 of the Income Tax Act. 

Though time for submitting ITR-V Forms for above Assessment Years was extended on earlier occasions also, it has been reported that some electronically filed returns with refund claim still remain pending with the Income-tax Department due to non-submission of ITR-V within the prescribed time-frame. 

In such cases, the taxpayer concerned may ascertain whether his ITR-V has been received at the CPC, Bengaluru or not by logging on the website of Income-tax Department-http:/incometaxefiling.gov.in/e-Filing/Services/ITR-V Receipt Status.html by entering Pan No. and Assessment Year or e-filing Acknowledgement Number. Alternatively, status of ITR-V could also be ascertained at the above Website under ‘Click to view Returns/Forms’ after logging in with registered E-Filing account. In case ITR-V has not been received within the prescribed time, status will not be displayed. 

The taxpayer whose ITR-V have remained to be received at CPC, Bengaluru must submit a duly signed copy of ITR-V to the CPC by 31.03.2014 by speed-post at the following address: CPC, Post Bag No. 1, Electronic City Post Office, Bengaluru-560100 (Karnataka). 

It may be noted that this final opportunity is being extended to the taxpayers to regularize their returns where refunds continue to remain pending for Assessment Years 2009-10, 2010-11 and 2011-12 for want of valid ITR-V Form. Therefore, taxpayers concerned are advised to take benefit of this relaxation so as to enable the tax authorities to further process their otherwise valid refund claims. 

Source:-PIB

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