ITR verification is an important aspect of Income Tax.
ITR verification is an important step while filing ITR, because without it the process remains incomplete and it is considered as non-filing.
Filing of income tax return is an essential task for every taxpayer. However, it is important to note that the ITR filing process is not complete until verification. Without verification, the ITR will be considered invalid. To ensure the validity of your ITR, it is very important to understand the verification process and the various methods available for verification.
As of August 1, 2022, the Central Board of Direct Taxes (CBDT) has reduced the ITR verification period from 120 days to 30 days from the date of return submission. This emphasizes the importance of timely verification to avoid any complications.
One of the most convenient methods of verification is e-verification, which allows instant verification of income tax returns. There are various ways to e-verify your ITR, each offering its advantages.
The first method is e-verification through Aadhaar OTP. To use this method, log in to your Income Tax e-filing account and navigate to the e-file tab. Select the Income Tax Return option and click on e-verify return. Enter the Aadhaar OTP and click Continue to complete the process.
Another option is e-verification through net banking. Choose “Through Net Banking” option and select your bank You will be redirected to net banking login page where you have to enter your credentials Once logged in, choose the option to verify your return and you will be directed to the e -Filing portal. Click on Verify on the respective ITR form to complete the process.
If you have a demat account, you can opt for e-verification through it. A generated Electronic Verification Code (EVC) will be sent to your mobile number and email ID. On the e-verify page, select Demat account and enter the EVC. Click on the e-verify button to complete the process.
Another method is e-verification through bank ATMs. Insert your ATM card, enter your ATM PIN and select the option to generate an EVC for income tax filing. An EVC will be sent to your registered email and phone number. Log in to your e-filing account, select the EVC already exists option and verify it
Finally, if you have a pre-verified bank account for income tax refund, you can opt for e-verification through a bank account. An EVC will be generated and sent to your registered mobile number and email ID. Click on the verify page, select the bank account option, enter the received EVC and click on the “e-verify” button to complete the process.
Checking your income tax return is crucial to ensure its validity. By understanding the various methods available for verification, you can choose the one that suits you best and complete the process quickly. Remember, a verified ITR is a step towards meeting your tax obligations and maintaining compliance with the tax authorities.
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