Trust, But E-Verify

Jul 21 2016,

 

No more agonising over whether your tax returns have been submitted successfully. Verify online. 

It''s that time of the year again. File your tax return, take a printout, post it to CPC, Bengaluru, and worry endlessly about whether they received it on time. The tax filing process is incomplete, and the ITR invalid, unless your ITR-V, an acknowledgment that return has been submitted successfully, is verified. Spare yourself the grief this year. Thanks to the introduction of the electronic verification code (EVC), you can easily and quickly verify your return online. Just follow these steps

-Log in to incometaxindiaefiling.gov.in with your PAN number and date of birth

-Click ''e-File'' on the blue bar at the top

-Select ''e-Verify Return''

-Choose one of the listed options

-There are mainly five options to verify online:

-One-time-password (OTP) sent to registered e-mail ID and mobile number

-Aadhaar OTP

-Net banking

-Bank account number

-Demat account number

EVC THROUGH REGISTERED E-MAIL ID AND MOBILE NO.

-This option is for taxpayers with a total annual income of less than Rs 5 lakh and with no refund

-A 10-digit alphanumeric code (valid for 72 hours)is sent to your mail and mobile number, which should be registered on the I-T department site


EVC VIA AADHAAR OTP

-The Aadhaar card must be linked to the PAN on the e-filing website

-The OTP is sent to your mobile number registered with Aadhaar and is valid for 10 minutes

-EVC VIA NET BANKING

-Your bank has to be authorised for EVC

-Choose your bank from the list you are redirected to after clicking ''Continue''

-When you confirm e-verify, an EVC is generated automatically and applied to the return

-Everything is automatically verified and saved at the back-end

-The refund is credited to the account selected for the purpose in your tax return, which may be different from the account you have used to e-verify

EVC VIA BANK A/C NO.

-Bank account number must be pre-validated

-To validate, provide your bank name, account number, IFSC and mobile number on the site

-Once bank account number is validated, click "Yes" to generate EVC

EVC VIA DEMAT A/C NO.

-Taxpayers can provide demat account details under Profile Setting Menu on the e-filing site

-Provide account number, e-mail ID, mobile number

-These details are validated along with PAN and name with details registered with depository (CDSL/NSDL)

-Once verified, taxpayer can opt for ''Generate EVC''

-EVC is sent to taxpayer''s CSDL/NSDL verified mail ID and/or mobile number

NOTE: If no e-verification options are available, one can still send the physical ITR-V, but it must reach the income tax department within 120 days of e-filing.

 
EXPERT VIEW

 

The most important thing to remember is e-verification itself. A large number of taxpayers skip this step. A return which is not verified is not considered filed.

Archit Gupta, Founder and CEO, www.cleartax.com

 
If you can get e-verifcation of your e-filed tax return, then the chances of your return getting processed faster increases and in turn you can expect your tax refunds to be released quickly.

Vaibhav Sankla, Director, H&R Block India

 



 Source: India Today

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