An income tax return once filed, requires to be verified in order to be considered as valid and to be processed by the income tax department. Previously, the process of verification of the return entailed taking a print of the ITR V (return filing acknowledgement), signing it and sending the same to the Central Processing Centre (CPC) in Bangalore.
To ease the verification process, the government has notified new modes via which you may electronically file and verify your returns. Your return can be verified by generating an Electronic Verification Code (EVC). EVC is a 10 digit alphanumeric code and is unique to a PAN. One EVC code can validate only one return, so if you revise your return, you have to generate another EVC. If you verify your return via EVC, you are not required to send the physical ITR-V to CPC.
Explained below are the electronic modes you may use for generating the EVC for verifying your return
1. Aadhaar Card OTP
For using this mode of verification, log in to your account on the e-filing portal for verification, click on the option 'generate Aadhaar OTP to e-Verify my return'. A One-Time Password will be sent to the mobile number registered on your Aadhaar. This OTP will be valid only for 10 minutes. Enter the OTP for verification of your return. On successful validation, the return is verified and you may download the acknowledgement for the same. For this, ensure your Aadhar number is linked to the registered mobile number.
For verification of return form using netbanking, login to your netbanking account using your net banking login credentials. There is a tab related to income tax filing on the home page. On selecting the e-verify option, the page will be redirected to the government e-filing portal. Clicking on my account on the e-filing page will generate the EVC which will be sent to your registered email ID and registered mobile number. Using the EVC you may e-verify your income tax return. Prior to using this verification mode, you must ensure that your bank is authorised by the income tax department for providing such facilities.
3. Government e-Filing Portal
While using this mode of generating EVC, you may directly log on the government’s e-filing portal and the EVC is sent to your registered email ID and mobile number. However, to avail this method of verification, you must meet the following criteria:
Your income is below INR 5,00,000; and you do not claim a refund.
4. Bank Account Details
For verification using the bank account details, you must pre-validate your bank account. Pre-validation can be done on the government e-filing portal. Bank account details which you will need to provide for validation will include bank name, account number, IFSC code and mobile number. Validation will only be successful if your PAN details match your bank account details. It is a prerequisite that you confirm if your bank is allowed to provide such services.
5. Demat Account
This method of verification is similar to the process of bank accounts. A validation of demat account details is required in the Profile settings menu, prior to availing this method. You will be required to select your depository and enter both mobile number and email id. Validation is considered successful when the details provided by you are confirmed by the depository. On successful validation, you may use this mode for generation of EVC.
In case a taxpayer is unable to verify the return electronically or does not want to verify the return electronically, then the taxpayer can avail the option of downloading a copy of ITR V and sending a signed copy of the same to CPC Bangalore within 120 days from the date of uploading the return. The timeline should be adhered to for the return to be treated as a valid return.
Archit Gupta is founder & CEO, ClearTax