ITRs Not verified for AY-16 to AY-20? Here is "One-time Relaxation" by CBDT.

One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns.

ITR filing for FY20 extended till November 30.

Other highlights of compliance during the lockdown.

If you have filed your income tax return (ITR) online in the last file years but not completed the filing process by authenticating either electronically or by sending a signed physical copy then you have one last opportunity to complete it.

The Central Board of Direct Taxes (CBDT) in a circular, said that taxpayers who have not verified the returns electronically filed in Assessment years 2015-16 to 2019-20 can now do the verification either by sending the signed physical copy (form ITR-V) or by any of the five specified electronic methods by the end of September 2020.

It may be noted that incomplete ITRs can be verified electronically by either using an OTP sent to the Aadhaar-linked mobile phone number, log into the e-filing website of the tax department through your bank's net banking facility, or by using the bank account number or the Demat number or with the help of cash dispensers installed by banks (ATMs), CBDT said.

Typically, taxpayers get four months to verify an electronically filed ITR from the date of submission. If the ITR is not verified within the time frame, authorities can start legal proceedings against the assessee as per the law. Completing the ITR is the obligation of every taxpayer.

Not Received Past Years Tax Refund? Have A Chance To Get It Back.

However, some people file ITR just to get back the excess TDS deducted from their income. But your tax refund will be processed only if you complete the ITR process by verifying the ITR either electronically through EVC/OTP or by sending it through post to CPC, Bangalore.
An assessee is required to verify the return within 120 days of e-filing the ITR, else the return is considered invalid.
So those assessees whose last five year's refund is stuck due to non-verification of ITR, have a chance to get their refund by filing the ITR-V form through electronic verification before September 30, 2020.

CBDT said that the additional time was being given as “a one-time measure" for resolving the grievances of taxpayers associated with non-filing of ITR-V for earlier assessment years and to regularize such returns that have either become non-existent or have remained pending due to non-filing or non-receipt of respective ITR-V forms.

However, this relief will not be applicable to those where officials have already taken action for ensuring compliance.

ITR filing for FY20 extended till November 30.

Other highlights of compliance during the lockdown.

The Income Tax department has extended the deadline for filing ITR for the financial year 2019-20 or Assessment Year 2020-21 to November 30.
Earlier, the government extended the deadline for tax-saving investments till June 30 because of the nation-wide lockdown due to the coronavirus pandemic.
The government had also extended the deadline for filing revised ITR for the financial year 2018-19 or assessment year 2019-20 till July 31, 2020.
The government has extended the date to issue Form 16 to employees by employers to August 15, 2020.
The government has also reduced the TDS rates applicable for non-salaried payments by 25%. The reduced TDS rates will remain valid till March 31, 2020, and will also be applicable to fixed deposits, dividend payments from mutual funds, and companies.
Also, the deadline for the furnishing of TDS statements for FY 2019-20 was extended till July 31, 2020.
The date for linking Aadhaar with PAN was extended to March 31, 2021.