zyadapaisa.com

Earn more by increasing your knowledge

Finance

Hurry up! E-verification of Income tax return to be done within 30 days of the filing of ITR.

What is Verification of ITR?

Once ITR Is filed at the Income-tax portal, it needs to be verified also. Verification can be done in two different ways, Physical Verification and Electronic verification.

How to Physically Verify the ITR Filed?

In Physical verification, you need to send a copy of the ITR (With your Signature) to CPC Department, Bengaluru (Karnataka).

What is E-Verification?

E-Verification is the most convenient and instant way to verify your ITR.

E-verification of income tax returns is mandatory for them to be treated as valid.

  • If you have been wondering why your income tax return (ITR) has not been processed yet or why there has been a delay in getting the refund, first check whether you have e-verified your ITR. If you do not e-verify your ITR, the filing process is treated as incomplete and your ITR becomes invalid.
  • From August 2023, the income tax department has made it mandatory for tax filers to e-verify their returns within 30 days of filing returns.

How to e-verify your ITR?

  • The income tax department allows you to complete the e-verification process using either Aadhaar OTP (one-time password), or pre-validation using internet banking, bank account, or demat account.
  • It can also be e-verified through DSC(Digital Signature Certificate).

Steps to E-Verify ITR

  • Go to the income tax department’s e-filing portal and click on ‘e-Verify Return’.
  • You need to enter your PAN, the assessment year for which the verification is being done (2023-24), and the acknowledgment number.

NOTE: Your PAN must be linked with aadhar.

  • Alternatively, you can also log in with your PAN and password, then go to “My Account”.
  • Click on “e- verify” where you will be shown three options:

    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.

    3) I would like to use Aadhaar OTP to e-verify my return.

NOTE:-EVC(Electronic Verification Code is delivered to your registered mobile number when you need to verify electronically).