In exercise the power under clause (ii) of para 14 read with clause 7 of para 4 of Centralize Processing of Returns Scheme 2011, the CBDT thru Directorate of Income Tax (Systems) issued Notification no. 1/2015 under the CPC Scheme 2011 for extension of time limit for submitting the ITRV related to income tax returns filed electronically for the AY 2013-14 & AY2014-15. The important features of the notification are as under
- Notification applicable to returns submitted electronically
- Extension of submitting the ITR V for the income tax returns for the AY2013-14 and AY2014-15 has been extended till 31st Oct 2015 or within the period of 120 days from the date of uploading of return whichever is later.
- Notification applicable to AY2013-14 income tax return submitted after 1st April 2014 but before 31st March 2015.
- Notification applicable to AY2014-15 income tax return submitted after 1st April 2014 but before 30th June 2015.