There is a big update revealed regarding ITR filling. Actually, the Central Board of Direct Taxes (CBDT) has made a change to the waiver application for delay in filing income tax returns. The deadline for submitting an apology application has been reduced by a year. Now you will be able to apply for forgiveness within 5 years after the end of the financial year. The Central Board of Direct Taxes has issued a notification in this regard. Earlier this deadline was 6 years; now this deadline has been reduced to 5 years. According to a media report, this information has come to light, but a screw has also been implicated in this change, because in one situation the income tax payer will not be able to take advantage of this change.
Proof documents will have to be given along with the apology application
According to media reports, if the matter of filing income tax reaches the court and the deadline for filing income tax returns ends till the court’s decision, then the 5-year rule will not apply in that case. The apology application will have to be submitted within 6 months after the court’s decision. Explain that by apologizing for the delay in filing income tax returns, tax payers try to get income tax refunds so that there is no loss.
At the same time, while granting forgiveness to the income tax payer, the board evaluates his problems. In such a situation, the taxpayer has to submit proof and necessary documents along with the apology application. The Income Tax Department and the Board together evaluate those evidence and documents. If the evidence and documents seem to be correct, pardon is granted.
How do I file an apology application?
Income tax payers can submit a request for apology for delay in filing returns on the Income Tax portal. For this, first log in and register. Click on the Services icon on the homepage and tap on Condonation Request. After filling out the form, click on Submit the Donation Request. Then proceed by clicking on Continue.
Click on Create Condonation Request on the new webpage. Here the information sought will have to be given and the file will have to be submitted. Tap on submit by providing the required information. After submitting, you will also have to verify your ITR.
