Discard Returns: Under this new facility of the Income Tax Department, the ITR filed can be removed from the records of the Income Tax Department before being verified. After this new ITR can be filed.
The Income Tax Department is continuously introducing new facilities for the convenience of taxpayers. In this context, the department has now started a facility called ‘Discard Returns’. Under this, taxpayers can reject or withdraw the income tax return even after filing it. The condition is that the taxpayer has not verified it. This means that the ITR filed may be removed from the records of the Income Tax Department before it is verified. After this new ITR can be filed.
Taxpayers will get relief
Earlier, taxpayers did not have the facility to withdraw the income tax return (ITR) filed. If there was any error in the ITR, a revised return had to be filed. The taxpayer had to repeat the same lengthy process again. In the new system, taxpayers will be able to avoid this and file new ITR instead of revised ITR.
Till now the process was like this: To fill the revised RTR, it was necessary to verify the old return. That is, if a taxpayer filed a return and later any error was detected, the only way to correct it was to first verify the same ITR.
After that file the amended return. In such cases of incorrect ITR, notices are often sent to the department. The new system will allow taxpayers to withdraw returns containing errors.
These conditions must be met
Returns filed by taxpayers have not been verified online or offline.
This income tax return should be filed only after the financial year 2023-24. Only returns after April 1, 2023 can be withdrawn.
After discarding the old return, if the new return is filed after the due date, penalty will be imposed as per the rules.
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