ITR V showing invalid due to non-verification for income tax return filed by audited entities [AY 2023-24]
All persons, be it individual, firm, trust or company who were required to get their books of accounts audited under any law and whose due date for filing income tax return was 31.10.2023 were facing an issue which is discussed under.
Any person who is required to get their books of accounts audited especially company cannot file their income tax return without the digital signature and cannot submit the return without attaching digital signature on the e-filing portal.
Now, all assessee while filing their return of income attached their digital signature and accordingly their income tax return was submitted and the return was verified at the same time and they were not required to verify the return within 30 days.
Accordingly, when they downloaded their ITR verification (ITR-V) form at the time of filing return of income it was not showing any issue and it was showing as return verified and on Income tax portal. However, there was one change in the portal wherein it was showing that return was verified after it was filed and accordingly there was a process which was shown between filing of return and income tax return getting verified.
However, when the assessee were trying to download ITR V later it was showing a watermark on the verification form as “INVALID due to non-verification” as shown in the image below and because of which assessee was panicked as to why his return of income was not verified within due time and why such watermark is coming up when the time for verification is 30 days.
Thus, looking at the above verification form all the people were worried that why their income tax return are invalid especially when all returns were filed with Digital signature and were verified at the same moment. In this regard many people had approached CPC and they had told that there was some error in the portal which will be resolved soon and the watermark of invalid return will be removed.
Today when various people were trying to download their Acknowledgement of return of income from portal they didn’t see and watermark and accordingly it can be safely assumed that the issue has been resolved by the CPC – team.