Income Tax Return is 100 per cent online- No need to post ITR V

Income Tax Return is 100 per cent online- No need to post ITR V

Income Tax Return goes completely paper less, now the processing of return filed will be through Aadhaar Number, where, you can link your Aadhaar Number with your PAN and get rid of sending ITR V to CPC, Bangalore. oie_huoXgKImbl9t In the new process, One Time Password (OTP) will be generated after uploading of your return. With the help of this OTP, you can verify your ITR filed and there will be no need to send Acknowledgement to Bangalore.From the Assessment Year 2015-16, an option is given to the taxpayer to verify their return of income viaElectronic Verification Code (EVC).In these cases, taxpayers shall not be required to send the signed copy of ITR-V to CPC, Bangalore. Before getting in details, we shall first understand the term EVC and how can it be generated:

 What is EVC?

For electronic verification of return, a code (EVC) is generated. EVC will be a unique number linked to assessee’s PAN. One EVC can be used to validate one return, irrespective, of assessment year or type of return. Note: EVC generated via Aadhaar Card will be valid only for 10 minutes and in any other case, it will be valid for 72 hours.  

Can all assessee verify return through EVC?

Following cannot file return through EVC: a) Persons, whose accounts are required to be audited under Section 44AB; b) Political parties filing their return of income in ITR-7; and c) Companies.

How to generate EVC?

Taxpayers can generate EVC by any of the four ways given below: 1. Through E-filing Website of Income Tax Department: This facility is available only to the assessee’s:

  • Having total income of Rs. 5 Lakhs or below and
  • Not claiming Income-tax refund.

EVC generated will be sent to the registered email ID and mobile number. 2. Through Net-Banking: If your bank is registered with Income Tax Department, you can directly access the e-filing website through your account login. EVC generated will be sent to the registered e-mail id and mobile number of taxpayer.

  1. Through Aadhaar Number: Taxpayers can link their Aadhaar Number with their PAN on e-filing website to generate the EVC.

After linking Aadhaar Number to PAN, ‘one time password’ (‘OTP’) will be generated by UIDAI and sent to the taxpayer’s mobile number registered with UIDAI. This Aadhaar based OTP is the EVC and can be used to verify the incometax return.

  1. Through ATM: Taxpayers can generate EVC through ATM only if ATM card of taxpayer is linked to PAN. The bank will communicate to e-filing website which will generate EVC and send the EVC to assessee on his registered mobile number.

After understanding all the options available for generating EVC, you must know how and when this EVC shall be used in verification process. E- Verification of Income Tax Returns is required to be done in following situations:

  1. While uploading a return
  2. Of an already uploaded return

Let us see how and when EVC is being used in all the situations.

  1. E-Verification while uploading a return
  • Upload Return and Click Submit
  • The Return is uploaded. However, Pending for e-Verification
  • For e-Verification,taxpayer can:
  • Option 1 – I would like to e-Verify now
  • Option2 – I would like to e-Verify later/ I would like to send ITR-V

Option 1 –I would like to e-Verify now Step 1: Enter the EVC sent to your registered Email Id / Mobile Number and Submit to e-Verify return. Step 2: Download the Acknowledgement (No Further action required). Option 2 – I would like to e-Verify later/ I would like to send ITR-V Step 1: Click on Continue ->Download ITR-V Step 2: Submit ITR-V to CPC, Bangalore.   2.  E-Verification of an already uploaded return

  • Click e-Verify Return under e-file.
  • Uploaded returns (120 Days) which are yet to be e-Verified are displayed in a table.
  • Click on e-Verify (for the return already uploaded)
  • For e-Verification, taxpayer can:
  • Option 1 – I would like to e-Verify now
  • Option 2 – I would like to e-Verify later/ I would like to send ITR-V

Option 1 –I would like to e-Verify now Step 1: Enter the EVC sent to your registered Email Id / Mobile Number and Submit to e-Verify return. Step 2: Download the Acknowledgement (No Further action required). Option 2 – I would like to e-Verify later/ I would like to send ITR-V Step 1: Click on Continue ->Download ITR-V Step 2: Submit ITR-V to CPC, Bangalore. With above explanation of the process to verify your return filed with the department, taxpayer may simply do the verification process. After the successful verification you will not be require to do the tedious work of sending ITR V to Bangalore. Income Tax Return is 100 per cent online- No need to post ITR V.   For any assistance visit ITR Filing ______________________________________________________________________________________