ITR e-Filing verification is a declaration by the taxpayer that the information provided by the individual is correct. Click to know the methods of ITR Verification.
After filing an Income Tax Return (ITR), it has to be verified. A return filed by you is not considered valid unless the ITR is verified. You can. Either verify your ITR online or do it offline. Here we simplify the process for you and discuss all the ways with which you can verify for income tax return.
What is ITR verification?
An income tax return verification is a declaration by the taxpayer that the information provided by him or her is correct. It is a mandatory step without which the income tax department does not process the return filed by the individual or company. You have to complete the verification process within 120 days of filing the returns.
In case you are eligible for a refund from the Income Tax department, you won’t receive it until you verify your return. There are various methods of verifying your return. You can physically check your returns by downloading the ITR-V form, signing it and send it by post to the IT department. The IT department also allows you to verify your return online. You can do so using your Net Banking, Aadhaar Card or by generating an E-Verification Code (EVC) on the IT department’s website. The online verification processes are hassle-free and faster than the physical verification process.
When to e-Verify ITR?
Most taxpayers opt for the e-Verification process as it is quicker and a simpler process than the physical verification process. From the date of filing your return, you will. Have a window of 120 days to verify your returns.
Earlier it was mandatory for taxpayers to download their ITR-V form, sign it and send it to the Bangalore headquarters of the Income Tax department within 120 days of filing the returns. Now the government has offered taxpayers the chance to verify their returns online within minutes. There are five ways of online verification. You can generate an EVC using your Net Banking which will be sent to your registered email ID and phone number. You can use this EVC to verify your return. You can also generate an OTP using your Aadhaar Card and verify your returns. You can also log on to www.incometaxindiaefiling.gov.in website and generate an EVC which will be sent to your email ID and phone number. Use this EVC to verify your return. You can also generate EVC using your bank ATM card or a demat account.
Methods of e-Verification of ITR
There are five ways of e-verification of an Income Tax Return. One can use Net Banking or ATM card to generate a 10-digit EVC for online verification. You can also use your demat account to generate an EVC. You can choose to use your Aadhaar Card to generate an OTP for verification. Alternately you can also directly log on to your account on the IT department website and generate an EVC.
Offline ITR verification
After filing your income tax returns, you can download the ITR-V Form. You will need a password to open it (the IT department’s website will assist with the password). Once you have opened the form, you need to get a print out of the same. The form has to be printed in black ink only. Faded or light print copies will not be accepted.
Sign the form in blue ink only. After signing the form, mail it to the Centralised Processing Centre of the IT Department in Bangalore. The address where the form has to be posted is Centralised Processing Center, Income Tax Department, Bengaluru, Karnataka 560500.
Online ITR verification through the government portal
You can verify your Income Tax return using the government portal www.incometaxindiaefiling.gov.in . This can be done only in came your total income is less than Rs5 lakhs, and you do not have to claim a refund. You can click on the e-verify button on the website. You will then receive an EVC on your registered email ID and phone number. Key in the 10-digit EVC, verify your return, and you are good to go.
ITR verification using Aadhaar OTP
Here, too, you can log on to the government portal www.incometaxindiaefiling.gov.in Make sure your Aadhaar card is linked to your account on the portal. You can click on the option to generate a one-time password (OTP) to e-verify your tax return. If your Aadhaar is linked, an OTP is sent to your Aadhaar-registered mobile number and email ID. The OTP is valid for 10 minutes and can be keyed in to e-verify your tax returns. An acknowledgement of the verification is emailed to your registered ID. To use this facility make sure your Aadhaar is linked to your Income Tax account.
ITR verification through Net Banking OTP
You can also verify your return using the Net Banking facility of your bank. You must, however, first log in and check whether your bank is authorised by the IT department to issue an EVC. Make sure your KYC process is complete using your PAN card. You can then log in to your Net Banking and click on the e-verify option. You will be redirected to the government website for return filing. Click on the generate EC option. A 10-digit EVC is sent to your registered email ID and phone number. Key in this EVC to verify your income tax return. You need not print out anything. An acknowledgement is sent to your email id after the e-verification process is complete.
ITR verification through Demat Account Number
Demat account numbers can be used to complete the verification process of income tax returns. However, you need to pre-validate your demat account before using this method. To do so, you need to provide your depository details on the government website. Your details have to be confirmed by the depository. Once that is completed, you can choose the profile setting on the portal on the government income tax portal and pre-validate your demat account. After that you can choose to generate EVC using the demat account. The EVC will be sent to your registered mobile number. You can enter this EVC on the e-filing portal and complete your verification process.
E-verification through ATM
Many banks are registered with the Income Tax department to complete the verification process. You can check with your bank if the facility is available with your bank. You can swipe your ATM card at an ATM and enter your PIN. After that, choose the option to generate an EVC for e-verification of income tax. The EVC will be sent to your registered email address and phone number. You can use this EVC to complete your e-verification process.
By when can I verify my income tax return?
The Income Tax department requires you to verify your income tax return within 120 days of filing your return.
What happens if I don’t verify my income tax within 120 days of filing my return?
If verification of income tax return is not completed within 120 days of the filing on return, the Income Tax department does not process your return application. The income tax return is rendered invalid.
Can I check if my ITR return has been verified?
Yes. You can check the status of your ITR by going to the government portal and clicking on ITR status. Keep your PAN number and acknowledgement details handy.