ITR-V Filing: A Complete FY25 Real-Life Case Study

A large number of taxpayers file their ITR correctly but forget the most crucial final step — submitting and verifying ***ITR-V**. The Income Tax Department treats a return as invalid* if it is not verified within the due period, leading to penalties, interest, and sometimes even loss of refund. This case study breaks down how a salaried professional handled his ITR-V for FY 2024–25, the mistakes he nearly made, and how timely verification helped him avoid additional tax liability.

Profile of the Taxpayer

Rahul Deshmukh, 34, is a Senior UX Designer working at a tech firm in Pune. His annual CTC for FY 2024–25 is $42,000, consisting of basic salary, allowances, company PF, performance bonuses, LTA, and NPS contributions. Rahul follows a disciplined tax planning approach but often files his ITR close to the deadline. Last year, he missed verifying his ITR-V until the final reminder. This year, he wanted to ensure proper submission and avoid last-minute issues.

Income & Investments Overview for FY 2024–25

Rahul’s salary structure and deductions eligible under the old regime are as follows:

Rahul chose the old tax regime because HRA, PF, and 80C deductions gave him higher tax savings.

How Rahul Filed His ITR

Rahul received his Form 16 by mid-June and filed his return on 10 August 2025. His taxable income after deductions is shown below:

Rahul calculated a tax liability of approximately $2,120 after cess. He had already paid $1,980 TDS, so he expected a refund of $140.

How the Issue With ITR-V Almost Occurred

The moment Rahul filed his return, the Income Tax Portal generated the ITR-V (acknowledgement). Normally he verifies instantly through Aadhaar OTP, but this year his Aadhaar-linked mobile number was temporarily out of service.

The portal sent multiple reminders to verify, but Rahul ignored them thinking “ITR is filed, so I’m safe.”

Key Deadline to Remember Verification must be completed within 30 days of filing.

Rahul filed on 10 August 2025, so his last date for verification was 9 September 2025.

Tax Impact If Rahul Missed ITR-V Deadline

Rahul wanted to avoid these issues, so he proceeded to verify his ITR-V.

How Rahul Completed the Verification

Since offline verification was not possible, he used the e-Verification route:

1. Logged into the income tax portal.
2. Selected “e-Verify ITR.”
3. Used Net Banking verification through his HDFC account.
4. Return was instantly marked as verified.

Tax Planning Insight For FY 2024–25

Rahul improved his tax situation by:

• Claiming full HRA exemption through proper rent receipts.
• Maximizing his PF + ELSS under Section 80C.
• Adding $1,000 NPS for extra Section 80CCD(1B) deduction.
• Filing ITR early to avoid portal delays.
• Most importantly, verifying ITR-V on time to ensure the return stays valid.

Comparison of Rahul’s Refund Timeline With & Without Verification

Simple Chart: Savings From Timely Verification

Rahul effectively saved around $250 simply by verifying ITR-V on time — a step most taxpayers underestimate.

Final Takeaway

Even if you file your tax return well before the deadline, the process is incomplete until ITR-V is verified. For FY 2024–25, taxpayers like Rahul can avoid penalties, protect refunds, and ensure error-free compliance by completing e-verification immediately after filing. A simple 2-minute step can prevent major hassles later.