With just a little over 4 weeks left till the deadline for filing income tax returns (ITR), most people have started filing their ITR.
An ITR after being filed has to be verified by the assessee. It is not treated as valid until it is verified by the taxpayer. In the existing process, a taxpayer can verify his/her return electronically or physically (i.e by sending signed ITR-V to Centralized processing Center (CPC) in Bangalore).
Individuals/ HUFs who file their return in form ITR-4 and are required to get there accounts audited have to compulsorily file their returns using Digitally Signed Certificate. Consequently, they do not need to verify the returns as the returns are digitally signed. Taxpayers have the option to e-verify their respective returns at the time of uploading or after uploading. In case of an already-uploaded return, taxpayers can e-verify the same by clicking on the “e-Verify Return” option under the “e-file” tab after logging into the site.
Taxpayers can verify the return using any one of the following methods:
1. EVC received on the registered mobile number and e-mail. Electronic Verification Code (EVC) is a 10 digit alphanumeric code which can be generated through an e-Filing portal and is valid for 72 hours.
2. Aadhaar OTP
3. Login to e-Filing through net banking.
4. Bank account-based validation
5. Alternatively, you can verify your return by sending the physical acknowledgment (ITR-V) to CPC Bangalore.
How to e-verify through EVC: Under this alternative, two options are displayed to the taxpayers, which are:
1. “I already have an EVC to e-verify my return.”
2. “I do not have an EVC and I would like to generate EVC to e-verify my return.”
You can log-into your net banking account and click on the “income tax e-filing tab” and subsequently you will be redirected straight to the income tax site.
After logging into the income tax site, click on the option “View Returns/ Forms” to see e-filed tax returns. Then select the option “Click here to view your returns pending for e-verification” and then click on “e-verify”. No further action is required.
To generate Aadhaar OTP (One-Time-Password), the taxpayer’s PAN and Aadhaar must be linked to the income tax website and your mobile number must be linked to your Aadhaar.
How to e-verify through Bank Account-based Validation System:
If the taxpayer is not able to e-verify immediately because of any reason, then he/she can download the ITR-V, sign it manually and send it to CPC through post. This ITR-V should reach CPC within 120 days from the date of upload of the return to be treated as a valid return.
Address of CPC Bangalore for speed post CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka, India.