Income Tax

E-Verifying Income Tax Return (ITR) on the new Income Tax Portal

As part of the current digitisation program, income tax returns can be e-verified online without having to visit the income tax department. There are different ways in which you can verify the ITR. The latest way to verify is through online, along with the existence of physical offline methods as well. The physical process involves sending a copy of ITR-V by post. In this article, we will learn about e-verifying income tax return on the new IT portal.

What is the need to e-verify Income Tax Return?

One should verify their Income Tax Return to complete the return filing process. If you fail to verify the same within the stipulated time, an ITR is treated invalid. E-Verification is the most convenient, seamless and instant way to verify your ITR.

One can also e-Verify other requests/responses / services in order to successfully complete the respective processes, including verification of the:

• Income Tax Forms (via online portal / offline utility);
• e-Proceedings;
• Refund or Re-issue Requests;
• Rectification Requests;
• Condonation of Delay in filing ITR after the due date;
• Service Requests (submitted by ERIs);
• Uploading ITR (by ERIs).

Different ways of e-verifying Income Tax Return through E-verification code

The Electronic Verification Code is essential while submitting tax returns through e-verification. The e-verification must be done within the time limit of 120 days, otherwise, the ITR will be invalid.

You can e-verify your ITR through E-verification code via:

• Net Banking-

Firstly, log in to your net banking account;

Select the income tax e-filing link provided by the bank;

Select the e-verify link for the return to be verified;

After that, the return will be verified.

• Bank ATM-

Swipe the ATM card at the bank ATM;

Click on PIN for e-Filing;

Electronic Verification Code would be received on the registered mobile number;

Login to the e-filing portal to choose an option to e-verify returns via the Bank ATM;

Enter your Electronic Verification Code on the e-filing portal, after that, the return will be verified.

• Aadhaar OTP-

Visit the e-filing portal;

Link the Aadhaar Number with PAN (in case not linked);

Once Aadhaar is linked successfully, click on the screen;

Select the option to e-Verify return with the Aadhaar OTP;

Generate OTP, which is sent to the registered mobile number;

Enter that OTP on the e-filing portal, then the process is verified.

• Bank Account Number-

Visit the e-filing portal;

In case you don’t have your bank account validated, then pre-validate it;

Once the bank account is validated successfully, click on the e-verify link;

Select the option to e-verify using bank account details by generating OTP;

When the EVC is obtained on the registered mobile number, you may provide the EVC on the e-filing portal;

Now the return is verified.

• Demat Account Number-

Visit the e-filing portal;

Pre-validate your Demat Account Number if it is not validated before;

Once it’s done, “Demat account details validated successfully” will flash. Then, click the e-verify link;

Click on the option to e-verify with Demat account details and generate OTP.

EVC will be obtained on the registered mobile number. Then, you can enter your EVC on the e-filing portal, and it will be verified.

How will you know that your e-verification is complete?

 If you are e-Verifying your return-

• A success message shall be displayed along with the Transaction ID;
• An email will be sent to the registered mail ID with the e-Filing portal.

In case you are an Authorized Signatory / Representative Assessee:

• A success message shall be displayed along with the Transaction ID;
• Once successful verification is done, an email confirmation would be sent to the primary email ID of Authorized Signatory’s / Representative Assessee’s and your email ID registered with the e-Filing portal.

Consequences of delay in e-verifying Income Tax Return

If you fail to verify within the time, your return will be treated as not filed and would attract all the consequences of not filing ITR under the Income Tax Act, 1961^[1].

However, one can request condonation of delay in verification by providing appropriate reason. Once such a submission of request is made, you will be able to e-Verify your return. Moreover, the return shall be treated valid only after the condonation request has been approved by the competent Income Tax Authority.

Benefits of e-verifying Income tax Return

It has the following benefits:

• E-verifying means you do not need to send a physical copy of the ITR-V to CPC, Bangalore;
• Verification of the ITR takes place instantly, which saves one from the delay in transit of ITR-V;
• You may e-Verify with any of the different methods such as Aadhaar OTP / EVC (using pre-validated bank / Demat account) / Net Banking / Digital Signature Certificate (DSC).

Conclusion

The income tax returns can be e-verified online without having to visit the income tax department. It may be noted that the Electronic Verification Code is essential while submitting tax returns through e-verification. E-verifying Income tax return must be done within the time limit of 120 days; otherwise, the ITR will be invalid.

Read our article:Essentials points to note if you are filing ITR this Year