File Your Income Tax Return Before 31st July 2024.
In a recent scenario, the Income Tax Department has taken a crucial move that has enhanced user convenience and flexibility in the income tax filing procedure. This new feature is known as the “Discard ITR” option. The latest addition comes as a relief for taxpayers whose Income Tax Returns (ITR) were filed but remained unverified. The article will tell you about the Income tax department introducing the “Discard Income Tax Return” option for unverified returns and their benefits.
Table of Content
Short note on “Discard ITR”
Discard Income Tax Return has been introduced by the Income Tax Department, which is a new feature that permits a person to completely discard. It means that a person can remove their previously filed unreviewed ITR, which is previously submitted in the IPT by a person, however, not reviewed can now be deleted from the records of Income tax departments. This will support a person to ignore going by the revised ITR procedure of correcting mistakes in the originally filed ITR.
Benefits of the “Discard ITR” Option
There are certain benefits of the Discard Income Tax Return option, and these are:
- It comes up with great flexibility for taxpayers to correct errors in their filed ITR;
- It is capable of rectifying the error without paying penalties or any other complications;
- It reduced the processing delays;
- User-friendly;
- Increased compliances.
Frequently asked questions about the “Discard ITR”
Can someone discard an unverified ITR filed under Section 139(1)?
Ans. Yes, as per sections 139 (1), 139(5) and 139(5) users can discard ITRs filing, in case they select not to verify. You can file a fresh ITR after discarding the previous unverified one.
Certain steps to find the “Discard ITR” Option
Ans. The user can identify the option of “Discard” on the Income Tax Portal by following these steps:
- Login to the Income tax portal;
- Go to the e-filing option;
- There is an option for Income Tax Returns;
- e-Verify ITR;
- The last one is “Discard”
When and how many times one can avail of the option of “Discard”?
Ans. Taxpayers can avail of this option only when the ITR status is pending for review/ unverified. There is no limitation on using it at various times, with the precondition that ITR status remains unverified.
Is it possible to reverse a discarded ITR?
Ans. No, once an ITR is discarded, then it cannot be reversed.
Can someone discard an ITR if one sent ITR V to CPC and it’s in transit?
Ans. Users must not be discarding returns where ITR-V has been sent to CPC. Before discarding, there is a need to undertake caution.
Is submitting a subsequent ITR compulsory after discarding?
Ans. Well, it is not compulsory for users who have filed return details previously and discarded an unverified return, which is generally expected to submit a subsequent ITR.
Final Words
The article concludes with the introduction of the “Discard ITR” option by the Income tax department, which is a commendable thing to simplify the filing of taxes for individuals whose ITRs were earlier left without review. This user-friendly concept not only addresses issues associated with unverified returns but also empowers taxpayers with a solution. As we know taxpayers are increasingly accustomed to digital interfaces and seamless connections, the Discard Income Tax Return option stands out as a practical mechanism for enhancing convenience and efficiency in Income tax compliance.
