The Importance of Verifying Both Original and Revised ITR Returns

When dealing with the Income Tax Return (ITR) process, it's crucial to ensure that both your original return and any revised returns are properly verified. Failing to verify either of these can lead to complications and potential issues with your tax records. This article will discuss the implications of verifying only the revised ITR and leaving the original ITR unverified.

Revised ITR Accepted, Original ITR Status Unchanged

If you verify only the revised ITR and leave the original ITR unverified, there are several consequences to consider. The revised ITR will be processed and any changes made in the revised return will be considered for assessment. However, the original ITR will remain unverified. This unverified status could render the original ITR invalid or untreated by the tax authorities.

Typically, if the original ITR is not verified, it may lead to complications in your tax records. This can cause discrepancies in your tax assessment, leading to further investigations or requests for additional documentation. Depending on the jurisdiction, not verifying the original ITR could also have legal implications, such as penalties or issues with future tax filings.

Potential Issues and Legal Implications

If the original ITR and the revised ITR contain different information, this could create discrepancies in your tax assessment. The tax authorities may seek clarification or additional documentation regarding these differences. Additionally, if you fail to verify the original ITR, it could have legal consequences, including fines or issues with future tax filings.

Given these risks, it's advisable to verify all returns to ensure compliance with tax regulations. Consulting with a tax professional can provide tailored guidance based on your specific situation, helping you avoid potential pitfalls and ensuring a smooth tax filing process.

Addressing Common Queries and Seeking Clarification

With the complex nature of ITR filings, it's not uncommon to encounter confusion or conflicting information online. I faced a similar issue and sought clarification directly from the tax helpline, 1800 103 0025. I was reassured that there is no need to e-verify the original return since the revised return has already been e-verified. The helpline provided the following guidance:

There is no need to e-verify the original return since you've already filed the revision return after that and e-verified it also. So the Income Tax Department will consider the revised return only.

I also found conflicting information on social media platforms and even on Google and Quora. Therefore, seeking help from the official helpline was the best approach to get accurate and reliable information.

Centralized Processing of Returns

The Central Board of Direct Taxes has implemented a scheme for centralized processing of returns called the Centralized Processing of Returns Scheme 2011. This scheme outlines that if an assessee revises their original return before the processing of the original return, the department will process only the revised return and take no action against the original return. Returns will be processed only when they are verified.

Since you have not verified your original return and revised it, the department will take no action against the original return and will process only the revised return. This ensures that your latest and most accurate information is used for tax assessment.

By understanding the implications of verifying both your original and revised ITR returns, you can ensure compliance with tax regulations and avoid potential complications. If you have any further questions or need guidance, consulting a tax professional is highly recommended.