ITR filing: This is how you can verify your income tax returns
If the Income Tax Department has authorised your bank to provide e-verification facilities, you can log in at your net banking and click on e-verify.
If you are gearing up to file your Income tax return in view of the approaching deadline on July 31, you also need to know about verification process after filing your return. According to the Income Tax Department, if you have filed your ITR, but have not verified it, your return will not be considered valid. Therefore, after filing your return, you should verify it either through online process or through offline process that includes five ways to verify your return.
Notably, tax payee gets as many as 120 days to verify his/her return. ITR verification can be used only if you are filing your tax returns that are not required to be audited, and this includes using ITR-1, ITR-2 and ITR-4 for this fiscal. In case your tax returns need to be audited, then you should verify it using the 'Digital Signature Certificate'. For that, you need to follow the ways given below to e-verify your ITR:
1. The Income Tax Department authorises some banks to provide e-verification facility. You can check the list to find if your bank is listed there. Then visit your bank's ATM and swipe your ATM card. Select the 'PIN for e-filing option' to find an Electronic Verification Code (EVC) which will be sent to your registered mobile number. You can use this EVC to e-verify your tax return online.
2. If the Income Tax Department has authorised your bank to provide e-verification facilities, you can log in at your net banking and click on 'e-verify'. You will be directed to the e-filing portal where you can click on 'My Account' option to generate an EVC which will be sent to your registered mobile number.
3. As we know that linking Aadhaar with PAN is mandatory to file ITR. You can verify your ITR using Aadhaar generated a one-time password (OTP). Log in to e-filing portal and click on 'Generate Aadhaar OTP' option. You will receive the OTP on your registered mobile number. Now enter that OTP to verify your ITR.
4. You can also send a signed copy of ITR-V (Acknowledgement receipt) to the income tax department. ITR-V is a one-page document which must be signed with blue ink. It must be sent either through an ordinary post or through speed post. You cannot courier ITR-V. You should send it to -CPC, Post Box No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka, India.
5. There is another method of EVC generated through Demat Account, but prior to using this method, you should ensure that you provide your depository details on the e-filing portal. These details should be confirmed by the depository itself. You should select profile setting on the portal and pre-validate your account, and then choose EVC for verification using a demat account. The EVC will be sent to your registered mobile number which you can use to e-verify the return.
6. Those income taxpayers whose income is below Rs 5 lakh, can verify their ITR on e-filing portal. The just need to click on 'e-verify' option after which the EVC will be sent to their registered email ID and mobile number. This they can use to verify their tax returns.
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