Individuals can avail this selection solely from AY 2023-24 onwards for the respective ITR.
A discard IT return is an earnings tax return that has been completely deleted by the taxpayer.
The Income Tax Department has not too long ago launched a brand new function permitting taxpayers to ‘Discard ITR’. With this, taxpayers can discard their unique, belated, or revised earnings tax returns (ITRs) which had been filed however not verified.
The discard possibility can be utilized repeatedly, offered the ITR standing stays unverified or pending verification.
Also Read: ITR Filing Update: Nearly 8 Crore ITRs Filed Till Dec 2
What Is a Discard Return?
A discard IT return is an earnings tax return that has been completely deleted by the taxpayer. This could be finished if the return accommodates errors or inconsistencies, or if the taxpayer merely needs to start out over. Discarding a return is completely different from submitting a revised return, which is a technique to right errors in a beforehand filed return. When you discard a return, it’s handled as if it was by no means filed in any respect.
Once you have got discarded a return, it is possible for you to to file a brand new return for a similar evaluation 12 months.
Discard IT Return: FAQs
Where can you discover the ‘Discard option’ ?
Discard possibility could be discovered by means of the under path :
www.incometax.gov.in → Login → e-File → Income Tax Return → e-Verify ITR → “Discard”
When are you able to avail ‘Discard’ possibility and might you avail this selection a number of occasions?
An individual can avail this selection provided that the ITR standing is ‘unverified’/‘Pending for verification’.
There isn’t any restriction on availing this selection a number of occasions. However, the precondition is ITR standing is ‘unverified’/‘pending for verification’.
Is it necessary to file subsequent ITR when you have ‘Discarded’ earlier unverified ITR ?
An individual, who has uploaded the return information earlier, however has made use of the ability to discard such unverified return is anticipated to file subsequent an ITR afterward, as it’s anticipated that they’re liable to file the return of earnings by the use of his earlier motion.
ITR filed for AY 2022-23 is pending for verification. Can you avail this Discard possibility?
Individuals can avail this selection solely from AY 2023-24 onwards for the respective ITR. This possibility can be out there solely until the time restrict specified for submitting ITR u/s 139(1)/139(4) /139(5) (i.e., December 31 of respective AY as of now).
Discarded ITR by-mistake. Is it doable to reverse it?
No, if ITR is Discarded as soon as, it will possibly’t be reversed. The IT division has suggested to be vigilant whereas availing this selection. If an ITR is Discarded, it implies that such ITR just isn’t filed in any respect.
