ITR-B Form - How to File, Deadline, and Eligibility

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ITR-B Form - How to File, Deadline, and Eligibility

Filing the right Income Tax Return (ITR) form is crucial for compliance and accurate tax reporting. In a major development, the Income Tax Department has introduced a new return form – ITR-B, with effect from September 1, 2024, specifically for taxpayers whose cases fall under search or requisition proceedings. This article explains what ITR-B is, who is required to file it, the filing process, and important deadlines.

What is ITR-B Form?

ITR-B is a special Income Tax Return form introduced for taxpayers involved in search (Section 132) or requisition (Section 132A) actions. These operations are typically conducted by the Income Tax Department when they suspect tax evasion or undisclosed income.

Introduced via Notification No. 30/2025 dated April 7, 2025, the ITR-B is applicable for search/requisition proceedings initiated on or after September 1, 2024. The form enables accurate reporting of undisclosed income for the "block assessment period", which can extend up to 10 previous years, depending on the case.

Who Should File ITR-B?

You must file ITR-B if:

  • A search or requisition has been conducted against you under Section 132 or 132A.
  • You are an individual, HUF, firm, company, political party, or trust.
  • You have received a notice from the Assessing Officer asking you to furnish a return under Section 158BC.
  • Your case falls under search/requisition initiated on or after 01-09-2024.
  • You are required to report income discovered during the search that was not declared in earlier ITRs.

ITR-B Filing Deadline

As per the Income Tax Act:

  • The ITR-B must be filed within 60 days from the date of receipt of notice from the Assessing Officer.
  • This 60-day window is strict, and failure to file within the period may result in penalty or prosecution.
  • The ITR-B filing deadline cannot be extended, unless specifically permitted under exceptional circumstances.

Key Features of ITR-B

Applicable for Block Periods: Usually covers multiple years (up to 10) prior to the year of search.

Mandatory e-Filing: Must be filed electronically on the Income Tax e-filing portal.

Detailed Disclosure: Requires reporting of:

  • All previously undisclosed income.
  • Assets like cash, jewellery, foreign assets, and cryptocurrencies.
  • Expenditure and liabilities.

Separate from Regular ITR: This is not a substitute for ITR-1 to ITR-7. It’s an additional form applicable only in specific cases of search or requisition.

How to File Form ITR-B Online?

The ITR-B return form is required to be filed electronically, and the method of submission depends on the type of taxpayer and whether their accounts are subject to audit under the Income Tax Act.

Mode of Filing Based on Taxpayer Category

Businesses, political parties, and individuals whose accounts are audited under Section 44AB must mandatorily file ITR-B using a Digital Signature Certificate (DSC).

Other taxpayers (non-audited individuals, HUFs, etc.) can choose either of the following:

  • File with DSC, or
  • File using Electronic Verification Code (EVC) for authentication.

Step-by-Step Process to File ITR-B

Visit the Official Income Tax Portal

Visit the official website of Income tax department and log in using your PAN and password.

Choose ITR-B as Your Return Form

Under the return filing section, select "ITR-B" from the list of available forms. This is specifically for cases involving search or requisition under the Income Tax Act.

Enter Required Details

Fill in all the relevant sections, such as:

  • Personal and general information
  • Sources of income (including from undisclosed assets or transactions)
  • Details of taxes paid and payable
  • Block assessment period income

Attach Supporting Documents (If Required)

You may be asked to upload certain financial statements or reports related to the discovered income.

Verification of the Return

Mandatory DSC: For companies, political entities, or audit cases.

Optional Modes: For others, select DSC or EVC (via Aadhaar OTP, Net Banking, etc.).

Submit the Return

After verifying the form, submit it electronically.

Download Acknowledgment

Once the filing is complete, download the ITR-V (acknowledgment) for your records.

Benefits of Filing ITR-B

  • Complies with legal obligations under search proceedings.
  • Helps you avoid litigation and penalty.
  • Enables correct computation of tax on undisclosed income.
  • May protect you from further scrutiny or criminal charges, if you comply in good faith.

Conclusion

ITR-B Form plays a critical role in India’s tax compliance system post-search actions. It allows the Income Tax Department to assess undisclosed income efficiently while giving taxpayers a chance to voluntarily disclose income discovered during such operations.

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