Huge Reduction To Tax Payers! Deadline Prolonged For Processing Of E-Filed ITRs Which Had been Erroneously Rejected | Private Finance Information

New Delhi: Central Board of Direct Taxes  (CBDT) has introduced Leisure of time restrict for processing ofreturns of earnings filed electronically which have been incorrectly invalidated by CPC.

CBDT has stated that CPC Bengaluru has acquired grievances concerning misguided invalidation, resulting from numerous technical causes, whereas processing the returns filed electronically for various evaluation years. The time interval for processing these returns has lapsed, newest being 31.12.2024 for A Y 2023-24. Due to this fact, these returns should be validated and processed as per legislation. 

“The matter has been thought of by the Board and it has been determined to loosen up the timeframe prescribed in second proviso to sub-section (1) of part 143 of the Earnings-tax Act, 1961 (the Act) in train of its powers underneath part 119 of the Act. The Board hereby directs that returns of earnings filed electronically upto 31.03.2024 which have been erroneously invalidated by CPC shall now be processed. The intimation underneath sub-section (1) of part 143 of the. Act in respect of processing of such returns shall be despatched to the assessees involved by 31.03.2026,” CBDT stated in a round.

All subsequent results underneath the Act, together with difficulty of refund together with curiosity as relevant, shall additionally observe in these instances. In these instances the place PAN-Aadhaar linkage is just not discovered, refund of any quantity of tax or half thereof, due underneath the provisions of the Act shall not be made, CBDT stated.