Income Tax Department enables “Discard ITR” Option for Unverified Original/Belated/Revised ITRs Starting from AY 2023-24

The Income Tax Department enabled the “Discard ITR” option for unverified original/belated/revised Income Tax Returns (ITRs) starting from Assessment Year 2023-24.

  1. Opting to discard the ITR is equivalent to the non-filing of the return.
  2. Following the discard, a new ITR can be submitted. However, if the fresh ITR is filed after the due date, it will incur late fees and other associated consequences.
  3. Once the discard option is exercised, it cannot be reversed. Use this option cautiously.
  4. The discard feature is available until the ITR filing deadline, i.e., until December 31 following the end of the financial year. Timely action is advised.

Source: Income Tax Portal