In a bid to make filing taxes a breeze, the Income Tax Department has rolled out a cool new feature called “Discard ITR.” This nifty tool lets taxpayers toss out or delete an unverified original, belated, or revised income tax return (ITR) filed for Assessment Year (AY) 2023-24 and beyond. It’s like having a virtual eraser for your tax paperwork, giving you more say in how you handle your tax filings.

Getting to Know the Discard ITR Feature

You can find the ‘Discard ITR’ feature on the Income Tax Department’s e-filing portal. To check it out, just follow this simple path:

www.incometax.gov.in → Login → e-File → Income Tax Return → e-Verify ITR → Click on “Discard.”

This feature is handy for ITRs that haven’t gotten the green light through verification yet. Verification is a big deal in the tax filing world because it confirms that you are who you say you are and that the info in your return is on the up-and-up.

Why You Might Want to Hit the ‘Discard’ Button

The ‘Discard ITR’ feature comes with some perks:

  • Fixing Mistakes: If you spot slip-ups or things you missed in your filed ITR before it’s verified, no worries! Just hit ‘Discard’ and file a fresh ITR with the right details.
  • Tweaking Tax Math: Need to change your tax calculations? Discard your ITR and make the adjustments you need—whether it’s income changes, new deductions, or anything else affecting your tax game.
  • Getting It Right: The ‘Discard ITR’ feature is all about accuracy. It lets you set things straight before your ITR is considered final.

Who Can Use It and What to Keep in Mind

The ‘Discard ITR’ option is up for grabs for original, belated, or revised ITRs filed from AY 2023-24 onward. But, here’s the catch: you can only use it for ITRs that are still in the unverified club. Once you hit the verify button, the discard option is off the table.

And guess what? There’s no limit to how many times you can hit ‘Discard’ as long as your ITR stays unverified. So, go ahead and make those tweaks without breaking a sweat.

What Happens When You Hit ‘Discard’

Hitting the discard button is like saying, “Let’s pretend this never happened.” The discarded ITR vanishes from the Income Tax Department’s records, and you’re free to file a fresh, corrected ITR.

But hold up! This doesn’t mean you’re off the tax hook. You still need to meet your tax-paying responsibilities by the deadlines.

In a Nutshell

The ‘Discard ITR’ feature is a welcome addition to the income tax filing process, empowering taxpayers with greater control over their tax filings. By giving you the option to toss out unverified ITRs, the Income Tax Department is all about making sure your tax journey is smooth and on point. So, get familiar with this feature and use it when needed to keep your tax filings in tip-top shape.

Happy filing!!

**Connect with CA Mridul Gupta, a Chartered Accountant based in New Delhi, for professional financial guidance. Email your inquiries to office@camridul.in.**

Author Bio

Qualification: CA in Practice
Company: MRIDUL GUPTA & CO.
Location: Delhi, Delhi, India
Member Since: 09 Feb 2019 | Total Posts: 26
Experienced Chartered Accountant with a demonstrated history of working in the financial services industry, skilled in Statutory Audits, Income Tax, GST Compliances, Auditing, Financial Accounting and Financial Reporting. View Full Profile

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