- KredX Editorial Team
- 12 Nov 20
- business

Did you know that the income tax returns (ITR) filing process is not considered complete unless you verify it?
Under normal circumstances, the Income Tax Department treats an ITR that has been filed but not verified as invalid. As a result, the consequence of not verifying income tax returns is the same as not filing it for any given year.
Typically, after filing your ITR, you get a window of 120 days to verify it. Failing to do so will require you to re-file your returns. Even while filing a revised return, as an assessee, you need to verify it without any fail.
Unsure about the implications of not verifying income tax returns ITR? Read below to learn more!
Repercussions Of Not Verifying ITR – In A Nutshell
If at any time an ITR is filed before the expiry of its deadline, but somehow the process of verification got delayed for more than 120 days, taxpayers will not be liable to pay a penalty under Section 234F. These pointers emphasise the consequences of not verifying income tax returns (ITR) –- Blocking of tax refund
- Hefty penalty charge
- Declared losses will not get carried forward
- Other legal implications