#FinancialBytes: Five ways to verify your Income tax returns
You might think that filing your Income Tax return on time is all you have to do.
But, if you are about to file your Income tax return, or have already filed one, note that you also need to get it duly verified.
You can do it either online or offline, as per your convenience.
Here are five ways to verify your I-T returns.
- If you haven't filed your I-T return yet, hurry up
- Note: These methods can only be used in this case
- Aadhaar-based OTP verification
- E-verification via Net Banking
- Generate EVC via Bank/Demat account
- Generate EVC through your bank ATM
- Offline method: Sending signed ITR-V/Acknowledgement form
- Here's the address of CPC, Bengaluru
If you haven't filed your I-T return yet, hurry up
The last date to file your Income tax return, ie. July 31, is just a month away. So, in case you haven't filed your ITR yet, hurry up.
Once you have successfully uploaded/filed your ITR, you get 120 days to get it verified, failing to do which shall result in your return getting rejected.
Note: These methods can only be used in this case
Note that the following methods can only be used if you are filing I-T returns that are not required to be audited, ie. ITR-1, ITR-2 and ITR-4 for FY 2018-19. Otherwise, you will have to verify your return using 'Digital Signature Certificate.'
Aadhaar-based OTP verification
For Aadhaar-based e-verification, your Aadhaar must be linked with PAN.
First, upload your ITR on the Income Tax e-filing portal, and select the option to verify using Aadhaar.
A one-time password will be sent on the mobile number registered with your Aadhaar number. Use this OTP for electronic verification of your return.
The benefit of e-verification is that an immediate confirmation can be obtained.
E-verification via Net Banking
Start by logging in to your Net Banking account, then click on I-T e-filing option.
Now go to 'My account' section, click on 'e-verify return' to complete the verification of the Income tax return for the concerned assessment year.
An Electronic Verification Code (EVC) will be generated and sent to your registered mobile number. Use this code to e-verify your return.
Generate EVC via Bank/Demat account
For this, you'll first have to pre-validate your bank/demat details in the 'profile setting' section of your Income tax e-filing account.
For verification through bank account, you'll have to give details like bank account number, IFSC code, mobile and e-mail.
In case of demat, it will be depository type, depository participant ID, etc.
Go to 'Generate EVC' and use it to e-verify your ITR.
Generate EVC through your bank ATM
You can also generate EVC through select bank ATMs.
To do so, visit one of your bank's ATM branches and swipe your ATM card. Then, click on the 'Pin for Income Tax filing' option.
Finally, an EVC (valid for 72 hours) will be sent to your bank-registered mobile number. Use it to e-verify your I-T return.
Offline method: Sending signed ITR-V/Acknowledgement form
If you wish to verify your I-T return offline, download the ITR-V (acknowledgement form) from your e-filing account.
Now sign this document and send the physical copy to Income Tax Department's Centralized Processing Centre (CPC) in Bengaluru within 120 days from the date of uploading return.
Once they receive it, a confirmation will be e-mailed to you. You can also check the status online.
Here's the address of CPC, Bengaluru
Notably, ITR-V is a one-page document that must be signed in blue ink. You can send the physical, signed copy via speed/ordinary post to the following address: CPC, Post Box No. - 1, Electronic City Post Office, Bengaluru - 560100.
