Income Tax Return (ITR) filing: No need to generate slip! From bank ATM to Aadhaar, 5 steps to tax redemption
Every citizen is obligated to file ITR before the Income-Tax department. There are various forms depending upon the category of income like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
Income tax return (ITR) filing: Taxes form a major part of the outgo for any salaried employee. However, not everyone has to pay taxes and file for Income Tax Return. Yet, it can be said that a majority of working class people are liable to pay taxes. To make tax compliance easier for taxpayers, the Income Tax Department has broken down taxpayers into various groups based on their income and source. Paying income tax return consists of a form that needs to be filled up. This form asks for various details about income from all sources and indicates the taxes imposed thereon to the I-T department.
Every citizen is obligated to file ITR before the Income-Tax department. There are various forms depending upon the category of income like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. These forms are needed to be filed before a specified date decided by the IT department.
However, after filing an ITR the major concern that arises is in verifying your returns. If a seamless procedure has not been followed then your ITR filing goes for a toss.
Interestingly, to make verifying returns filed via online method even more simple and easy, the Income Tax Department has introduced five ways for this process.
Now a taxpayer will not need to send ITR-V to CPC. It needs to be noted that, ITR-V is an acknowledgment slip a taxpayer had to generate on filing of ITR.
So let's find out these five options to verify e-returns.
1. e-verify return via net banking!
Step 1 - Login to your net banking account.
Step 2 - Click on income tax eFiling link provided by bank.
Step 3 - Click on e-verify link against the return to be verified.
Step 4 - You will see a message saying verified.
2. e-verify return via Bank ATM!
Step 1 - Swipe your ATM card in bank ATM.
Step 2 - Click on PIN for e-filing.
Step 3 - EVC received on registered mobile number.
Step 4 - Login to e-filing portal & selection option to e-verify return using Bank ATM.
Step 5 - enter your EVC on e-filing portal.
3. e-verify return via Aadhaar OTP!
Step 1 - Go to e-filing portal.
Step 2 - Link Aadhaar number with PAN (if not linked).
Step 3 - Aadhaar successfully linked. Click to e-verify link on the screen & select option to e-verify return using Aadhaar OTP.
Step 4 - Generate OTP. The One-Time-Password is received on registered mobile number.
Step 5 - Enter your OTP on e-filing portal.
4. e-verify return via bank account number!
Step 1 - Go to e-filing portal.
Step 2 - Pre validate your bank account number (if not validated).
Step 3 - Bank account details validated successfully. Then click to e-verify link, select option to e-verify using bank account details and generate OTP.
Step 4 - EVC received on registered mobile number.
Step 5 - Enter your EVC on e-filing portal.
5. e-verify return via Demat account number!
Step 1 - Go to e-filing portal.
Step 2 - Pre validate your demat account number (if it is not validated).
Step 3 - Demat account details validted successfully. Then click to e-verify link, selet option to e-verify using demat account details and generate OTP.
Step 4 - EVC received on registered mobile number.
Step 5 - Enter your EVC on e-filing portal.
Therefore, there is no need to panic and even more important, no need to generate a slip! You should rather, follow the above mentioned procedures and have a flexible verifying of your tax returns.
So, notably, your ITR filing has got easier than ever before!
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