After you file your income tax return, it is necessary to comprehend the verification process. According to the income tax department, if any taxpayers filed their ITR but have not verified it, then the return shall not be considered valid. Thus, it is important to keep in mind that when taxpayers filereturns, they should verify it either through the online process or through an offline process.
Basically, ITR verification is the last step under the ITR filing process. Once you have uploaded your ITR on the e-filing website, Therefore, it can be used only if you are filing your Tax returns that are not needed to be audited which included using ITR-1, ITR-2, and ITR-4. However, if your tax returns are required to be audited, then you have to verify it by using Digital Signature Certificate. Here in this blog we have discussed about the steps to verify ITR-
EVC via bank account
The income tax department allows you to e-verify your return by using your bank account. The facility is accessible in selected banks only, you can check the list to know if your bank is listed there or not. After that visit your bank’s ATM and swipe your ATM Card. Select the ‘PIN for e-filing option’ to find an Electronic Verification Code (EVC) which will be sent to your registered mobile number. You can use this EVC to e-verify your tax return online.
EVC via net banking
If you have availed Net Banking facility of your bank account then you can verify your ITR. Individuals must know that only selected banks allow you to e-verify ITR. Furthermore, before logging in to your bank account, assure that you are not already logged in on the income tax india efiling website. Your PAN must be registered with the bank as well.
EVC through your bank ATM
To generate EVC, visit your bank’s ATM and swipe your ATM card. Click on the ‘Pin for Income Tax filing’. After that the EVC will be sent to your registered mobile number that will be valid for 72 hours. Log-in to your e-filing account on the income tax website. The income tax department provides facilities to generate code through selected bank ATMs. In addition, the facility is available for selected banks only.
Verifying tax-returns through Demat account
Another method of verifying Tax Returns is Demat account. If you are a Demat account holder, you can use it to verify your tax return. You must require to enter mobile number and email id which is linked to the Demat account.
Via Aadhaar-based OTP
To verify your ITR using the Aadhaar-based one-time password (OTP), your mobile number must be linked to Aadhaar and registered as such in the Unique Identification Authority of India (UIDAI) database and your PAN must be linked with Aadhaar.
Therefore, the taxpayers whose income is below Rs 5 lakh, can verify their income tax return after efiling of income tax return on e-filing portal. The taxpayers just need to click on e-verify option after which the EVC will be sent to the registered email id and mobile number.