Income Tax

Guide to printing and sending ITR-V to CPC – Income Tax Department Bangalore

E-filing of IT returns is a process of submitting tax returns online. It can be done using the tax preparation software approved by the Income Tax Department of India. It is increasing daily as more and more taxpayers are increasingly opting for it across the country. The due date for filing tax returns is 31^st July. Refer to this guide to know more about the way and structure in which ITR-V should be sent. On receiving the ITR-V acknowledgement, you have to forward it to CPC- Bangalore within 30 days from the e-filing of your Income Tax Return.

What is ITR-V?

ITR-V is a one-page document that a taxpayer must sign, preferably in blue ink, and send via ordinary post or speed post. For the returns filed post 31^st July 2022, ITR-V should be sent via speed post within 30 days from the return filing. You can only speed post an ITR-V and not courier. No supporting documents are required to be submitted along with the ITR-V. Only the one-pager signed ITR-V.

Address of CPC, Bangalore, for Speed Post

The Centralized Processing Centre (CPC), the Income Tax Department¹ located in Bengaluru, has been allotted a unique Pincode 560500 by the Department of Post. Taxpayers can hereinafter write their emails to “Centralized Processing Center, Income Tax Department, Bengaluru 560500” to submit ITR-V forms and other documents requiring a physical transmission mode.

CPC Address

Centralised Processing Unit,

Income Tax Department,

Bengaluru, Karnataka, 560500.

Instructions by the Income Tax Department

• Kindly use the ink Jet/laser printer to print the ITR-V Form.
• Avoid printing on a Dot Matrix printer.
• Do not use any other ink option to print ITR-V.
• The ITR-V Form should be printed only in black ink.
• Ensure that the printout is clear and not light-printed or faded copy.
• No watermarks should be printed on ITR-V. The only permissible water is that of the “Income Tax Department”, which is automatically printed on each ITR-V.
• The document mailed to CPC should be signed in original Blue Ink.
• Photocopy of signatures is not accepted.
• Signature or any handwritten text should not be written in the barcode.
• Avoid typing anything at the back of the paper.
• The bar code and numbers mentioned below the barcode should be visible clearly.
• Only A4 size white paper should be used.
• Do not use a stapler on ITR-V acknowledgement.
• Perforated paper or any other size paper should not be used.
• If you submit original and revised returns, do not print them back-to-back. Two separate papers should be used for printing ITR-Vs separately.
• Kindly do not submit any annexures, covering letters, pre-stamped envelopes, etc., along with ITR-V.
• A single envelope can contain more than one ITR-V.
• The ITR-V form must be sent to the CPC, Income Tax Department, Bengaluru, Karnataka – 660500 either by ordinary post or speed post.
• With effect from 1^st August 2022, i.e. for the returns filed after 31^st July 2022, ITR-V should sent via speed post within 30 days of the return filing.
• ITR-Vs may be rejected, or acknowledgement of receipt may get delayed if it does not conform to the above specifications.
• The ITR-V is not proof of having filed your return if your verification is pending.

When do you get the acknowledgement receipt from CPC?

• It takes around 3 weeks from the date of posting the ITR-V Form for the CPC to send an acknowledgement to the taxpayer’s email ID.
• In case the taxpayer fails to receive any acknowledgement after 3 weeks, he or she needs to post another copy to the income tax department.

What to do when you do not receive an acknowledgement?

• If the taxpayer does not receive an acknowledgement, he or she can download it from the income tax website by logging in through the online account.
• The acknowledgement will be available under the ‘E-filing processing status’ under the menu ‘My Account’.
• The acknowledgement receipt can be checked by adding a PAN card and assessment year or by entering the e-filing acknowledgement number on the ‘ITR-V Receipts Status tab under the website’s Services section.

Filing a return after the end of the assessment year can result in a penalty of INR 5000 by the income tax department under section 271F. As per section 139(1) of the Income Tax Act, if the returns are not filed before the due date, the loss incurred during the year under the bracket ‘profits and gains of business and professions’ and ‘capital gains’ cannot be taken forward by the taxpayer to the next year.

Where do you file your IT Return?

Taxpayers file returns through the IT Department’s official website at https://incometaxindia.gov.in/Pages/tax-services/file-income-tax-return.aspx.

What is the need to e-file your IT Returns?

Speed: Acknowledgement of ITR forms to refunds; the process is faster compared to paper filing.

Accuracy: E-filing software helps reduce errors due to inbuilt mechanisms.

Flexibility: Taxpayers can file their returns anytime and from any location at their convenience.

Security: E-filing is safer than paper-based filing, which is easy to tamper with.

Accessibility: E-filing software applications, by and large, allow easier access to information.

Environment friendly: E-filing needs almost no paperwork as opposed to paper-based filing. The table below clearly shows the country’s significant growth in e-filing income tax returns.

For whom is e-filing of return mandatory?

E-filing of return is mandatory for the following:-

• Every company or every AOP or BOI.
• An individual whose income was above INR 5 lakh in the previous year.
• A firm, individual or HUF who needs to get their accounts audited under section 44AB.
• Every individual claiming tax relief under sections 90, 90A or 91.
• A political party, if its taxable income is above a specific amount, not having claimed exemptions u/s 13A.
• Resident and HUF with signing authority, asset or financial interest in any firm abroad.

Conclusion

In summation, it can be said that a taxpayer who e-files income tax returns without his digital signature has to file ITR-V to the income tax department’s Central Processing Center in Bangalore. If a taxpayer fails to do so, his or her returns will be considered invalid.

1. https://incometaxindia.gov.in/Pages/default.aspx