Now there is no need of filing revised returns. Taxpayers can discard the wrong ITR and file their rectified ITR afresh by using the ‘Discard ITR’ functionality within the I-T Portal
Discard ITR Option: Many taxpayers encounter situations where they submit their Income Tax Return (ITR) and later realize that some details were missed or incorrectly stated. In the past, the only recourse was to revise the ITR. However, starting from the assessment year 2023-24, the Income Tax Department has introduced a new feature: the ‘Discard ITR’ option. This allows taxpayers to discard an unverified ITR and file a fresh one without the need to first verify the erroneous ITR and then file a revised one.
What is the ‘Discard ITR’ Option?
The ‘Discard ITR’ option is a new functionality in the ITR e-filing portal that lets users delete a filled but unverified ITR form and start the process anew. This feature is available only if the ITR status is ‘Unverified’ or ‘Pending for Verification’. This helps taxpayers correct errors without the additional step of verifying and then revising the original submission.
Steps to Use the ‘Discard ITR’ Option
Step 1: Login to the E-Filing Portal: Visit the income tax e-filing portal at https://www.incometax.gov.in/iec/foportal/ and log in with your credentials.
Step 2: Navigate to ‘e-Verify Return’: Go to the ‘e-File’ tab and select ‘e-Verify Return’ under ‘Income Tax Returns’.
Step 3: Discard the Unverified ITR: On the new webpage that opens, you will see your unverified ITR. You will have two options: ‘e-Verify’ and ‘Discard’. Click on ‘Discard’ to delete your unverified ITR.
If you cannot see the ‘Discard’ option on the ‘e-Verify’ page, navigate to the ‘e-File’ tab, select ‘View Filed Returns’, and then click on ‘e-Verify’. This should redirect you to the ‘e-Verify’ page where you can find the ‘Discard’ option.
Situations to Avoid Using the ‘Discard ITR’ Option
Be mindful that using the ‘Discard’ option after July 31, 2024, can have implications. If the original ITR is discarded after this date, it may be considered as not filed within the deadline for FY 2023-24. In such cases, you will need to file a belated ITR and pay a penalty. According to the Income Tax Department, if an ITR filed under Section 139(1) is discarded and the subsequent return is filed after the due date under Section 139(1), penalties and implications of a belated return will apply, such as under Section 234F.
Always check the deadline for filing the return under Section 139(1) before deciding to discard any previously filed ITR.
By using the ‘Discard ITR’ option, taxpayers can more easily correct mistakes and ensure their tax returns are accurate, ultimately simplifying the filing process.
To Access the “Discard ITR FAQs” from the I-T Portal CLICK HERE
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