After filing an income tax return (ITR), the next step is verification. While the last day to file ITR without penalty ended on July 31, the deadline to e-verify it will end this month. Earlier, the income tax department allowed 120 days to e-verify ITR. However, this has been reduced to 30 days now.
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Why is verification of ITR important?
After filing ITR, whether offline or online, it is an important task to verify it. In case the verification is not done, ITR cannot be regarded as legal and may not be processed by the department. As a result, taxpayers will not receive any refund.
e-verification is the most convenient and instant way to verify ITR.
What are the ways to e-verify your ITR?
I-T Department offers five platforms to verify an ITR — net banking, bank ATM, Aadhaar, bank account, and demat account.
Can an authorized signatory/representative assessee e-verify the return on your behalf?
Yes. The person can do so by using any of the methods to verify.
How will you know that verification is complete?
A success message will be displayed along with a transaction ID. Also, an email will be sent to your email ID registered with the e-filing portal.
My demat/bank account is inactive, can you e-verify the return with this account?
No. You need to have an active demat/bank account which needs to be pre-validated and EVC-enabled on e-filing portal to e-verify your return using your demat/bank account.
Will delay in e-verification attract any penalty?
If you do not verify in time, your return is treated as not filed and it will attract all the consequences of not filing ITR under the Income Tax Act, 1961. However, you may request condonation of delay in verification by giving appropriate reason. Only after submission of such a request, you will be able to e-verify your return. The return will be treated valid only once the condonation request has been approved by the competent income tax authority.
What are the steps to verify returns?
Here are the steps to verify ITR using net banking:
Step 1: Log into the net banking account
Step 2: Click on the 'e-filing' link provided by the bank
Step 3: Click on the 'e-File' tab and select 'Income Tax Return' from the drop-down
Step 4: Select the 'Assessment Year', 'ITR For Name', 'Submission Mode' and click 'Continue'
Step 5: Submit the return
ALSO READ | ITR refund: Types of income tax notice you may receive and how to respond
Here are the steps to verify income tax returns using a bank ATM:
Step 1: Swipe ATM card in bank ATM
Step 2: Select 'PIN for e-Filing'. Electronic Verification Code (EVC) will be received on the registered mobile number
Step 3: Log into the e-filing portal-- incometaxindiaefiling.gov.in. Select the option to e-verify return using bank ATM
Step 4: Enter EVC on the e-filing portal. Income tax returns are verified
Here are the steps to verify ITR using an Aadhaar card:
Step 1: Go to the e-filing portal
Step 2: Click on 'e-File' tab and select 'Income Tax Return' from the drop-down
Step 3: Select the 'Assessment Year', 'ITR For Name', 'Submission Mode' and click 'Continue'
Step 4: Click “Generate Aadhaar OTP”. OTP will be sent to the mobile number registered with Aadhaar
Step 5: Enter the OTP and click “Submit”
Here are the steps to verify income tax returns using a bank account:
Step 1: Log into the e-filing portal
Step 2: Pre-validate bank account (if not validated)
Step 3: Click on the e-verify link, select the option to e-verify using bank account details and generate OTP
Step 4: EVC is received on the registered mobile number. Enter EVC on the e-filing portal. Income tax returns are verified
Here are the steps to verify income tax returns using demat account:
Step 1: Log into the e-filing portal
Step 2: Pre-validate demat account number
Step 3: Click on e-verify link, select the option to e-verify using demat account details and generate OTP
Step 4: EVC is received on the registered mobile number. Enter EVC on the e-filing portal. Income tax returns are verified.
ALSO READ | ITR filing: Key types of refund status you should know
(Edited by : Abhishek Jha)