Procedure to E-Verify Tax Return
After an individual has filed his or her income tax return, the next thing to do is verify it. If the ITR filed is not verified, then it will not be considered valid, as per the income tax laws. Now, there are six methods by which an individual can verify ITR, and among them, five are electronic methods and one is a manual. These methods of verifying ITR can only be used if the returns filed have not been audited. However, if the tax returns filed have to be audited, then it should be verified through the use of Digital Signature Certificate.
Here is a look at the different modes of e-verifying Income Tax Returns:
Generating EVC through Net-banking: If an individual has availed the net banking facility, it is possible to verify ITR through the same. It should, however, be noted that only select banks allow for e-verification of income tax returns. Now, to verify ITR through net banking, an individual must first login to his or her bank account. Then, the user needs to select the e-verify option, which can be found under the 'Tax' tab. This will redirect the taxpayer to the e-filing website of the income tax department. Select the 'My Account' tab and click on 'Generate EVC' option. A 10-digit alpha-numeric code shall be sent to the individual’s email and mobile number. This code will be valid for 72 hours. Then, the user must go to the 'e-verify' option under the 'My Account' tab to verify return. Click on 'I have EVC already'. Enter the OTP received on the mobile number registered with the bank. Select 'Submit' and the ITR shall be verified.
Generating EVC via Bank Account: Taxpayers can e-verify their returns through their bank account at select banks. To verify ITR, an individual must pre-validate it. First, the user needs to go to the profile settings in e-filing account to pre-validate bank account. Then, the required details must be entered like bank's name, account number and IFSC code. Following this, the user is required to enter mobile number that is in the bank's records. For the pre-validation to be successful, the PAN and name should match with the bank account records. When pre-validation of bank account is complete, the user must click on 'Generate EVC' option under the 'My Account' tab. A code shall be sent on the user’s mobile number. Following this, the individual must select 'e-verify' in 'My Account' tab and enter the code.
Verifying tax-returns through Demat Account: If an individual is a Demat account holder, then he or she can use the Demat account to verify ITR. To start with, the taxpayer needs to pre-validate the Demat account to verify tax return. For undertaking this, one first needs to go to profile settings and enter the required details. It is necessary to enter mobile number and email ID that are linked to the Demat account. The pre-validation process is automatic and typically takes about an hour or two. The user can use his or her Demat account to generate EVC only after details are validated by the depository. For this purpose, one must go to the 'Generate EVC' option and choose 'Generate EVC through Demat Account number.' Fill in the EVC received on the registered mobile number to successfully verify ITR.
Generating EVC through Bank ATM: For the purpose of generating EVC, an individual is required to visit his or her bank's ATM and swipe the ATM card. It must be noted that this facility is available at select banks. Then, the user needs to select ‘PIN for Income Tax Filing’. An EVC shall be sent to the registered mobile number. The individual has to log in to his or her e-filing account on the income tax website and go to the 'e-verify returns' option. Select the ITR to verify it and click on 'Already generated EVC through bank ATM.' Fill in the EVC and the tax return shall be verified.
Via Aadhaar-based OTP: To verify using the Aadhaar-based one-time password, an individual must ensure his or her mobile number is linked to Aadhaar and registered as such in the UIDAI database. Additionally, the taxpayer’s PAN must be linked to Aadhaar. Here, one needs to go to 'My Account', and select 'e-verify return' and choose the option, 'I would like to generate Aadhaar OTP to e-verify my return.' An SMS containing 6-digit OTP shall be sent to the user’s registered mobile number. Once the OTP is entered and submitted, the ITR will be verified. It should be noted that the Aadhaar-based OTP is valid only for 30 minutes.
