When you file your Income Tax Returns online, which is compulsory for those with Income above Rs 5 lakhs, you need to send the acknowledgment also called ITR-V to the Central Processing Cell or CPC to Bengaluru. This ensures that the Income Tax Office knows you have filed your returns.
Now, by e-verifying your income tax return online, there is no need to send physical copy of ITR V acknowledgment to CPC Bangalore.
The only other time you need not send the ITR-V is when you link your Aadhar Card on the Income Tax website, before you file returns.
Taxpayer has an option to e-Verify the return at the time of uploading or after uploading income tax return.
There are 4 ways by which we can e-verify income tax return
- EVC through e-filing website Via Net Banking
- EVC via Aadhaar Authentication
- EVC using Automatic Teller Machine (ATM) of a Bank
- EVC using Registered Email ID and Mobile Number
For the taxpayers whose income is more than 5 lakhs or if there is a refund, there are only two options: either via net banking and through bank account number.
How to generate EVC through net banking?
1. Login to Income tax site using your PAN card details
2. Go to E -file and generate EVC
3. Generated EVC will be sent to registered mail and mobile number
4. Click on the "I already have an EVC to e-Verify my return" If the taxpayer has the pre generated EVC enter the same in the provided text box and Click "Submit.
How to e-verify income tax return via net banking?
To e-verify income tax return, an individual should be a registered to net banking and use the existing internet banking user ID, login password & transaction password.
1. Click on the bank where you have account and from where the payments need to be made
2. Login to e filing portal through net banking
3. Click EVC through net banking
4. Click Continue
5. Click on the "e- verify" link against the return which has been uploaded
6. Login to e-Filing through Net Banking
7. Click continue on Confirmation page
8. Success message will be displayed. No further action is required
9. Download the attachment for further need
Any taxpayer, whose income is Rs 5 lakh or under every year and has no refund claims, they can directly generate the 'Electronic Verification Code' (EVC) for e-filing and validating their Income Tax Return (ITR). There will be a pop-up, where they can enter the EVC and be done with the process.
Once the EVC is generated it will be stored against the Assessee PAN along with the other verification details and will be valid for 72 hours.
Note that last date to file your income tax return is July 31, 2016.