{"id":26047,"date":"2024-01-20T00:23:48","date_gmt":"2024-01-19T18:53:48","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=26047"},"modified":"2024-06-28T00:23:23","modified_gmt":"2024-06-27T18:53:23","slug":"discard-itr","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/discard-itr\/","title":{"rendered":"Discard ITR option 4 unverified belated\/original\/revised ITR"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0dc02c1e12\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0dc02c1e12\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/discard-itr\/#Very_Important_Update_Related_to_ITRs_from_AY_2023-24-_Tax_Dept_issue_on_FAQ_related_to_Discard_ITR\" title=\"Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR\">Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/discard-itr\/#Key_Points_on_discard_the_Income_Tax_Return\" title=\"Key Points on discard the Income Tax Return\">Key Points on discard the Income Tax Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/discard-itr\/#Summary_on_discard_the_Income_Tax_Return\" title=\"Summary on discard the Income Tax Return\">Summary on discard the Income Tax Return<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25865\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25.jpg\" alt=\"Income Tax Return Form ITR 1 &amp; ITR 4 notified for AY 2024-25\" width=\"1200\" height=\"675\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25.jpg 1200w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25-300x169.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25-1024x576.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25-768x432.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/12\/Income-Tax-Return-Form-ITR-1-ITR-4-notified-for-AY-2024-25-800x450.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Very_Important_Update_Related_to_ITRs_from_AY_2023-24-_Tax_Dept_issue_on_FAQ_related_to_Discard_ITR\"><\/span><span style=\"color: #000080;\">Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>The Income Tax Department portal now features a &#8220;Discard ITR&#8221; option for unverified Income Tax Returns (ITRs), applicable for belated, original, or revised ITRs under sections 139(1), 139(4), and 139(5) starting from Assessment Year (AY) 2023-24.<\/li>\n<li>&#8216;Discard Return&#8217; option on the Tax dept portal, which permitted income tax taxpayers to rectify errors in their Income Tax Return &amp; file a fresh Income Tax Return.<\/li>\n<li>Income tax taxpayers\u2019 users can avail option of \u2018Discard\u2019 for Income Tax Return\u2019s being submitted under section 139(4) \/139(1) \/ 139(5) if they do not want to verify ITR.<\/li>\n<li>Discard option is only available for Income tax taxpayers with unverified ITR returns from AY 2023-2024 onwards.\u00a0 while there are no specific income tax provisions under Tax Law for option of discard return,<\/li>\n<li>This income tax law change is an attempt to streamline process of filing ITR\u2019s.\u00a0 It is compulsory to submit subsequent fresh \u00a0Income Tax Return, after discarding previous unverified Income Tax Return.<\/li>\n<li>Moreover, Incase Income tax taxpayer wishes to file a revised ITR return in future date, Taxpayer must provide information of original filing acknowledgment number &amp; date of the valid Income Tax Return.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Key_Points_on_discard_the_Income_Tax_Return\"><\/span><span style=\"color: #000080;\">Key Points on discard the Income Tax Return<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Discard Option Availability: Available for unverified ITRs from AY 2023-24 onwards. &amp;\u00a0 Applies to ITRs filed under sections 139(1), 139(4), and 139(5).<\/li>\n<li>Allows taxpayers to rectify errors in their ITR and file a fresh return.\u00a0Once the discard option is exercised, the previous unverified ITR is considered non-filed.\u00a0A new ITR must be submitted after discarding the previous one.<\/li>\n<li>If the new ITR is filed after the deadline, late fees and other consequences may apply. The discard option is irreversible once exercised. The feature is available until the ITR filing due date (31st December following the end of the financial year).<\/li>\n<li>When filing a revised return, provide the acknowledgment number and date of the original valid ITR.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Summary_on_discard_the_Income_Tax_Return\"><\/span><span style=\"color: #000080;\"><strong>Summary on discard the Income Tax Return<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Opting to discard the Income Tax Return is equivalent to non-filing of the Tax Return.<\/li>\n<li>Following the discard, a new ITR can be Filed. But, if fresh ITR Return is file after timeline date, it will incur late fees &amp; other associated consequences.<\/li>\n<li>Once discard option is exercised, Income Tax Return cannot be reversed. Use this option cautiously.<\/li>\n<li>The Discard ITR feature is available until the Income Tax Return filing due date, i.e., until 31<sup>st<\/sup> Dec following\u00a0 end of FY. It is advising to Income tax taxpayer Timely action is advised.<\/li>\n<\/ul>\n<p>Taxpayers are advised to use the discard option cautiously and take timely action to avoid penalties and ensure compliance. this is update from Tax Portal new features a &#8220;Discard ITR&#8221; option for unverified belated\/original\/revised (u\/s 139(1) \/139(4) \/ 139(5)) ITR\u2019s starting from AY 2023-24.<\/p>\n<p>For more details and <a href=\"https:\/\/www.incometax.gov.in\/iec\/foportal\/help\/discard-return\/faqs\">FAQs on discarding a Tax return<\/a>, You may visit the official Income tax FAQ page which mention here under : <a href=\"https:\/\/www.incometax.gov.in\/iec\/foportal\/help\/discard-return\/faqs\">link\u00a0<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-26896\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.-.jpg\" alt=\"Penalty for Late Filing of Income Tax Return.\" width=\"1080\" height=\"899\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.-.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--300x250.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--1024x852.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--768x639.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--800x666.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p><strong>Popular Article :\u00a0<\/strong><\/p>\n<ul>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/archives\/summary-of-provision-of-capital-gains-charts-under-the-income-tax-1961.pdf\">Provision-of-capital-gains-charts<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain\u00a0<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/learn\/deductions-under-section-80ccd-of-income-tax-act.html\">Deduction u\/s 80CCD of Income Tax Act, 1961<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain\u00a0<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/get-aware-for-penalty-of-section-234f-for-late-filing-of-itr\/\">Aware of the penalty of Section-234f for late filing of ITR<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/which-is-better-old-vs-new-tax-regime-comparison-2024.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/publications\/which-is-better-old-vs-new-tax-regime-comparison-2024.pdf\">Which is Better- Old vs New Tax Regime Comparison 2024 ?<\/a><\/span><\/li>\n<\/ul>\n<p><strong>Our Services:<\/strong><\/p>\n<ul>\n<li><strong>Tax Returns: <\/strong>Individual Tax Returns,\u00a0Company Tax Returns<\/li>\n<li><strong>Consultancy: <\/strong>Comprehensive Compliance Consultancy<\/li>\n<\/ul>\n<p><strong>Contact Us: For query or help, contact: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at \u00a09555555480<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR The Income Tax Department portal now features a &#8220;Discard ITR&#8221; option for unverified Income Tax Returns (ITRs), applicable for belated, original, or revised ITRs under sections 139(1), 139(4), and 139(5) starting from Assessment Year (AY) 2023-24. &#8216;Discard &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10055],"tags":[10111],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/26047"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=26047"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/26047\/revisions"}],"predecessor-version":[{"id":26897,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/26047\/revisions\/26897"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=26047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=26047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=26047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}