- To authenticate the e-filing of income tax return, income tax department tries to authenticate the tax return filing
- For salaried taxpayers, email and mobile are shared by employers and so is the bank account
- Netbanking is the easiest option if you e-file your income tax return through net banking
For scores of taxpayers, there is always something to worry over taxes. It starts from tax liability to filing returns and then worrying, whether the returns got filed or not, especially if the ITR-V verification letter to the CPC in Bangalore reached or not. Verification of income tax return has become a lot easier. Now, you are not required to send ITR-V to complete the return filing process. The income tax department has introduced the e-verification process. This online verification process has replaced the sending printout of ITR-V to CPC Bengaluru. Sending ITR-V through post was the main hassle for salaried taxpayers.
What is e-Verification?
To authenticate the e-filing of income tax return, income tax department tries to authenticate the tax return filing. Earlier it was done through the ITR-V. The ITR-V has your filing details along with the signature. To get your signature, IT department asks ITR-V by post. But, through the e-verification, the authentication of income tax filers would be online. The tax department has relied on other parameters for authentication along with the signature. The tax department is using five types of information to e-verify the authenticity of income tax filers: Email and mobile number, Aadhaar number, Net banking account, Bank Account Particulars and Demat Account Particulars. Along with these five e-verification parameters, the ITR-V method is also continuing. You can send the signed ITR-V as earlier.
For salaried taxpayers, email and mobile are shared by employers and so is the bank account. The linking of PAN to Aadhaar has also meant that any missing link is now in place for easy access. And those using net banking can do the verification with it. These are all in some forms routes for e-verification of tax returns.
Mobile and Email
The verification of income tax return through the email or mobile number has made the verification as easy as it could be. In this process, after the submission of income tax return, you will receive a one-time password. This password should be entered on e-filing website to complete the process. You can do it immediately after submitting the ITR forms. However, this is subject to conditions, e.g. the income should not be more than Rs 5 lakh, there should not be any refund and there should not be any adverse observation by the income tax assessing officer.
Aadhaar: The verification through Aadhaar is as easy as mobile verification. To avail this facility, you are required to link your Aadhaar number with the PAN. It is a one-time process. The e-filing portal asks for linking the Aadhaar number just after the login. You are required to give your Aadhaar number only. Once you link your Aadhaar, you will always get a one-time password on your mobile after every return submission. You have to enter this OTP on the e-filing portal.
Netbanking: It is the easiest option if you e-file your income tax return through net banking, with an e-file link available on the bank’s website. If you go through the link and file income tax return, you are not required to enter the one time password. Only you have to confirm for the e-verification.
Authenticated Bank Account: It is another easy method for income tax e-verification. This method is very useful for the person who does not access internet banking. In this method you are required to pre-validate your bank account number. The income tax department uses your information with the bank account information. The matching of information validates that real person is filing income tax return. To validate the authenticity, the income tax department asks bank account number, IFSC code, mobile number and email ID. On the basis of given account number, the tax department access your details from the bank.
Authenticated Demat Account: Like bank account, you can also pre validate your demat account. This pre validation gives you e-verification facility of income tax return. To validate your demat account you have to give the Demat account number, mobile number and email ID. On the basis of given demat number, the income tax department tallies your personal information of income tax return with the personal information in the demat account. The income tax department accesses the personal information from the depositories, NSDL/CDSL. At the time of e-verification if you choose the option of Demat account, you would get the EVC code at your mobile number. The mobile number would be the one which is registered with the Demat account.
The e-verification is applicable for all the income tax return; whether it is ITR-1 for salaried individuals or ITR-2 for the capital gains. If you use the ‘ITR-V’ step, you can replace it by e-verification. Even you can e-verify the already filed income tax return. You might have e-filed income tax return of FY 2014–15, but could not send the ITR-V. You can also e-verify such income tax return. To e-verify an already filed return, visit the incometaxindiaefiling.gov.in. Click on e-file and choose the e-verify option. You will get the option of e-verification.
