Income Tax Return (ITR) Filing Verification: Very important! How to do it? Know all details here

Just three more days are left as the deadline to file your Income Tax Returns (ITR) ends. The last date for filing your returns is 31 December 2020. If you have still not filed it, then this is the time to do it. If you file after this date, then you may be required to pay the late fine or penalty. But one should know that the ITR filing is not complete until you complete the verification process, which is the final step.

 It is a general belief that once the ITR is submitted, the filing is complete. However, you must know that your responsibility does not end with just filing your ITR. You also need to verify it. The new taxpayers should especially keep this important detail in mind.  

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There are several ways to do it including through Aadhaar verification process, internet banking, ATM and even through your demat account. We tell you how to do it via your demat account.
How to verify your ITR?

ITR verification can be done in many ways. ITR verification can be done online and the Income Tax Department gives 120 days to do it. The easiest way is electronic verification.  

Taxpayers should know this that in the financial year 2019-20 (April-March), the last date for filing your returns is 31 December 2020.
Know how to verify ITR via demat account?

The people who are into stock market trading can use their demat account to complete the verification process. But, before you make an attempt to do it through your demat account, you are required to validate your account.

How to Verify ITR via Demat account?

You are required to log in into your demat account. It could be with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CSDL).

The taxpayer is required to fill details related to his mobile number, email id and complete the validation process. This process usually takes 1-2 hours. If there is some problem with respect to the process, you are likely to get an alert on your email id.