Yet to e-verify your ITR? Don't miss today's deadline, or else you have to pay this much penalty; know how to e-verify ITR

ITR Filing: The deadline for filing Income Tax Returns (ITR) was July 31st and after filing ITR, the return must be verified within 30 days. However, many taxpayers either delay verification or fail to complete it immediately. If you are also one of those who have filed ITR by 31st July and have not yet verified it, then you have only one day left because today i.e. August 30, is the last day to verify it.

What happens if you verify late?

If you do not e-verify your ITR within 30 days of filing, you will face penalties. The date of verification will be considered the filing date, meaning the later you verify, the higher the penalty you will incur.

How much is the penalty?

Under Section 234F, a late fee of Rs 5,000 will be charged for delayed ITR filing. If your income is below Rs 5 lakh, the penalty is reduced to Rs 1,000. Additionally, under Section 234A, you will be charged 1 per cent interest per month on any unpaid tax, accruing from the due date of filing.

Six ways to e-verify your ITR

E-verification is an online process, and you can choose from several methods:

1. OTP on your mobile number registered with Aadhaar.
2. EVC generated through your pre-validated bank account.
3. EVC generated through your pre-validated Demat account.
4. EVC via ATM (offline method).
5. Net banking.
6. Digital Signature Certificate (DSC).

How to e-verify your ITR

1. Visit the e-filing portal and log in.
2. On the home page, click on the "e-verify Return" option.
3. On the e-Verify Return page, enter your PAN, select the assessment year, input your mobile number, and enter the ITR acknowledgment number. Then click "Continue."
4. Enter the 6-digit OTP received on your mobile and submit it.
5. If verifying after 30 days, click "OK" and provide a reason for the delay from the dropdown menu.
6. Choose any of the e-verification methods listed above and complete the process.