Is it necessary/mandatory to verify the original & revised ITR both? does verified revised return get processed by IT Department if original return is not verified by the taxpayer?
Asked 8 months ago in Income Tax from Kolkata, West Bengal
yes both ITR verification mandatory , because revised one is valid only if we filled original on time and if we dont verify original one then its deemed as non filled
In my original ITR of this year there was a mistake in computation in income head (salary amount entry) and filling interest from one FD, which i rectified in revised return by 31 st July and paid the full due tax during revised return fill up and E verified the revised return, now if i verify the original return now will there be any penalty ? should i E verify the original return now?
Asked 8 months ago
there is no penalty for above situation because your revised itr replace original itr, thus don't worry about it and verify original as soon as possible.
No return is valid till it is verified.
You should verify the return thorough e verification or by sending the ITR to CPC.
Only verified return considered as valid return and processed. till the time they are not verified it do not have any validity.
Revised Return overrides Original Return. Since you have already e-verified revised Return, there is no need to e-verify Original Return
It's better you verify both the returns in order to avoid any issues in future.
Because, technically your original return is not complete untill you verify it and as per law you can't file revised return until your original return is duly filled.
Please feel free to call revert in case you need more clarity.
Thanks and regards
CA CS B.Com
Just verify the revised return.
M.Com., CA, LL.B
CA, Greater Mumbai