A new feature called “Discard ITR” has been added to the income tax department’s website. Revenue Tax Returns (ITRs) that have already been filed but have not been verified can now be discarded by taxpayers thanks to this new feature.
With the introduction of the ‘Discard ITR’ feature, users can now remove either the original or revised ITR, extending the scope of revision beyond simple mistakes or omissions. Though this action is advantageous, it’s crucial to remember that there isn’t currently a law allowing for the deletion of an ITR, which could eventually raise concerns about its legality “said Amit Gupta, MD, SAG Infotech
FAQs on the Discard ITR Option have been made available by the tax department. This is everything you need to know about the recently added feature on the income tax website that permits taxpayers to dispose of their income tax returns that have not been verified (ITR).
ITR
1) If taxpayers choose not to verify their ITRs, they have the option to “Discard” them under sections 139(1), 139(4), and 139(5).
2) Nevertheless, there would be consequences for filing a subsequent return after the deadline under section 139(1) if the “ITR filed u/s 139(1)” is rejected. Examples of these consequences include 234F.
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3) Users can follow the provided path on the income tax website to access the ‘Discard’ option. Users can access the Discard option on the income tax portal by going to www.incometax.gov.in → Login → e-File → Income Tax Return → e-Verify ITR → “Discard.”
4) Only those with an ITR status of “unverified” or “Pending for verification” are eligible to use this option.
5) As long as the ITR status is still pending verification or unconfirmed, users are free to use the discard option again.
6) Starting with AY24, the feature will be accessible. after an ITR is thrown away.
7) The availability of this option is restricted to the deadline for filing ITRs under sections 139(1), 139(4), and 139(5), which is currently the 31st of December of the relevant calendar year.
8) An ITR can never be reinstated once it has been discarded, rendering the action final and effectively renouncing the ITR’s filing.
As for income tax returns, the Central Board of Direct Taxes (CBDT) reported that a record number of over 7.85 crore were filed through October 31 of this year. The deadline for filing ITRs (apart from ITR-7) for taxpayers without any foreign or designated domestic transactions was October 31, according to the official announcement.
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