The Income Tax department has an important update for taxpayers who have filed an Income Tax Return (ITR) for the assessment year (AY) 2020-21. The Central Board of Direct Taxes (CBDT) has provided a last chance to verify the ITR for AY 2020-21.

ITR VERIFICATION: WHY IT IS IMPORTANT

If taxpayers have e-filed their ITR for AY 2020-21, they need to verify it too, Income Tax India tweeted.

Verify your ITR to avoid becoming a non-filer and avoid the application of higher Tax Deducted at Source (TDS) rates.

ITR VERIFICATION LAST DATE

The extended last date for e-verification or verification for ITR for AY 2020-21 is February 28, 2022.

ITR VERIFICATION PROCESS

The e-verification of ITR for AY 2020-21 can be done using multiple modes.

1. Through Aadhaar OTP, 2. By logging into an e-filing account through net banking, 3. Electronic Verification Code (EVC) through bank account number, 4. EVC through demat account number, 5. By sending a duty signed physical copy of ITR-V through post to CPC, Bengaluru.