ITR Verification: The last date for filing ITR (Income Tax Return) for the salaried and such taxpayers whose accounts are not to be audited, has passed on July 31. Now the process of its verification has to be completed. Verification is very important as without it ITR filing will be considered invalid. For this, you get 120 days from electronically uploading the data of return of income.
However, CBDT (Central Board of Direct Taxes) has reduced it to 30 days which has become effective from August 1. Now the trick here is that taxpayers who have already filed their online return before the notification of reduction in verification time limit i.e. August 1, will get 120 days for verification and those who have done it after that, for them. This time limit is 30 days only. Explain that after July 31, the return can be filed with penalty.
Verify can be done in six ways
- From Aadhaar OTP: For this your Aadhaar and PAN should be linked and mobile number should also be linked with Aadhaar. Go to the e-Verify page of the Income Tax Portal and select the option of Verification by Mobile OTP. After that proceed by selecting the Continue option and on the next screen click on ‘I agree to the verification through my Aadhaar’. OTP will come on the mobile, by filling it you can verify the ITR.
- Through Bank Account: For this your bank account should be already verified. In this way, to verify the ITR, a code has to be used which comes on your mail id and mobile. This Electronic Verification Code (EVC) is a 10-digit alphanumeric code.
- Through Demat Account: For this also your Demat account should be already verified. In this way, for verification, go to the e-verify page of the income tax portal and select the option of demat account. After this, click on the Continue option and you can verify the ITR by entering the EVC that has been received.
- Through ATM: Select the PIN option for ITR filing by swiping the card at the bank’s ATM. EVC will come on mobile. After this, select the e-verify page on the income tax portal and verify the return by entering the EVC by selecting the option ‘I have ECV’.
- Through Net Banking: Go to the e-Verify page of the Income Tax Portal, select the Net Banking option and enter your bank name and click on ‘Continue’. Then log in to net banking on your bank’s portal and verify ITR by selecting the option of e-verify.
- Digital Signature Certificate (DSC): This is one of the methods of e-verification but immediately after filing your ITR you will be able to e-verify using Digital Signature Certificate (DSC). If you have chosen the option of verification later while submitting the income tax return, then you will not be able to opt for DSC for verification.
