If you haven’t filed your Income Tax Returns for the Assessment Year, you can opt for e-filing the returns. Many people may find e-filing a bit confusing, especially the ones who aren’t well equipped with the workings of the digital world. Filing your tax returns online has become mandatory for people earning more than Rs 5 lakh or seeking a refund during the Financial Year. Other people, including super senior citizens have an option for filing the tax returns manually.
The website where you file your tax return includes certain necessary components like your log-in credentials, personal details, income details, tax details, taxes paid and verification, 80 G details and Schedule AL, if applicable. After filling up the necessary personal, income and tax details and submitting the tax return, you’ll be required to verify the same via the Electronic Verification Code (EVC).
EVC is generated through e-filing portals and is valid up to 72 hours from the time of its generation. You can e-verify your return before or after uploading your return. If you’re unable to verify the tax returns through this method, you can use Aadhar OTP or you can post the duly signed print of Acknowledgement (ITR V) to ‘CPC- Bangalore, Post Bag No. 1, Electronic City Post Office, Bengaluru, Karnataka-560100’ within 120 days of filing your tax returns.
This step by step guide for e-filing your Income Tax Return is written and simplified by our Managing Director, Mr. Vaibhav Sankla. This write up appeared as an authored article in BW Businessworld.
Source : Business World