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October 8, 2020

6 ways to verify you ITR after uploading

by CA Shivam Jaiswal in Income Tax

6 ways to verify you ITR after uploading

An income tax return is basically a document that is filed as per the provisions of the Income Tax Act, reporting one’s income, profits and losses and other deductions as well as details about tax refund or tax liability. Due date for all income-tax return for FY 2019-20 is extended from July 31 2020 and 31 October 31, 2020 to November 30, 2020 to provide relief to taxpayers in view of the current COVID 19 pandemic. The Central Board of Direct Taxes (CBDT) has notified and released various ITR forms for different purposes.

What do you mean by verification of returns?

  • After successfully filing an income tax return (ITR), the next step is to verify it.
  • Uploading of ITR alone does not complete the return filing process. It is mandatory to verify the ITR to complete the process of return filing
  • The Income Tax Department will process an ITR, once it is verified.
  • Refunds, if any, are processed for returns that have been submitted and verified.

Who can verify an ITR?

Every income tax return filed must be mandatorily signed by the appropriate person (authorised by tax law) confirming that the information given in the return are correct and in accordance with the income tax law and also confirming that he/she is the competent person to make and verify the return. According to Section 140, an ITR shall be verified:

In the case of an individual:

  • by the individual himself
  • where he is absent from India, by the individual himself or by some person duly authorized by him in this behalf
  • where he is mentally incapacitated from attending to his affairs, by his guardian or any other person competent to act on his behalf; and
  • where, for any other reason, it is not possible for the individual to verify the return, by any person duly authorized by him in this behalf

 In the case of a Hindu Undivided Family:

By the karta, and where the karta is absent from India or is mentally incapacitated from attending to his affairs, by any other adult member of such family

In the case of an Indian Company:

By the managing director thereof, or where for any unavoidable reason such managing director is not able to verify the return, or where there is no managing director, by any director thereof.

In the case of a Foreign Company:

By a person holding valid power of attorney from such company to verify and sign the return

In the case of a Firm:

By the Managing partner or any partner not being a minor (if the managing partner is unable to verify and sign the return for any unavoidable reason or if there is no managing partner)

In the case of a Limited Liability Partnership (LLP)

By the designated partner or any partner if such designated partner is unable to sign and verify the return for any unavoidable reason or if there is no designated partner

In the case of a Local Authority

By the Principal Officer

In the case of a Political Party

By the Chief executive officer of such party irrespective of the nomenclature of his designation

In the case of any Association

By any member of the association or the principal officer

In case of a Company which is being wound up or where any person has been appointed as receiver of assets of the company

By the Liquidator of the company or the person who has been appointed the receiver of assets of the company

In case of a Company whose application for corporate insolvency resolution process has been admitted by the Adjudicating Authority under Insolvency and Bankruptcy Code, 2016

By the Insolvency professional appointed by such Adjudicating Authority

How can an ITR be verified?

In respect of ITR which is filed electronically without a digital signature, the taxpayer is required to verify it by using any one of the following modes within 120 days of uploading the ITR:

1. By an Aadhaar-based OTP

  • To verify the ITR using the Aadhaar-based one-time password (OTP), the assessee’s mobile number should be linked to Aadhaar and registered in the Unique Identification Authority of India (UIDAI) database and the assessee’s PAN must be linked with Aadhaar.
  • Go to ‘My Account’, and click on ‘e-verify return’ and select the option, ‘I would like to generate Aadhaar OTP to e-verify my return.’ An SMS with the 6 digit OTP will be sent to your registered mobile number. 
  • Enter the OTP received in the box where it is required and click on submit.
  • On successful submission, your ITR will be verified.

2. Generating EVC via Bank Account

  • The income tax department allows the verification of ITR’s using the bank account. This facility is available for select banks.
  • To verify your ITR using your bank account, you must pre-validate it.
  • Go to the profile settings in your e-filing account to pre-validate your bank account. Enter the required details such as your bank’s name, account number, IFSC code, and mobile number.
  • You are required to enter your mobile number that is present in the bank’s records. 
  • The pre-validation will be successful only if the PAN and name matches with the bank account records.
  • Once pre-validation of bank account is done, select ‘Generate EVC’ option under the ‘My Account’ tab.
  • A code will be sent to you on your mobile number.
  • Select ‘e-verify’ in ‘My Account’ tab and enter the code. 
  • No change of mobile number or email as mentioned will be permissible without revalidation of the bank.

3. Verifying tax-returns through demat account 

  • If you are a demat account holder, you can use your demat account to verify your ITR.
  • One must pre-validate your demat account to verify their ITR.
  • Go to profile settings and enter the required details such as mobile number, email ID, and your depository name, i.e., NSDL or CDSL.
  • You must enter mobile number and email ID which is linked to the demat account. 
  • The pre-validation process is automatic. If there is any error then it is communicated to you via email.You can use your demat account to generate EVC only after your details are validated by your depository.
  • Go to ‘Generate EVC’ option and select ‘Generate EVC through Demat Account number.’
  • Enter the EVC received by you on your registered mobile number to successfully verify your ITR. 
  • One cannot change their mobile number or email ID without revalidating it with the depository

4. Generating EVC via net-banking

  • To verify your ITR using Net banking facility, login to your bank account on the bank’s website. Select the e-verify option which is usually under the ‘Tax’ tab.
  • You will be redirected to the e-filing website of the income tax department.
  • Click on the ‘My Account’ tab and select ‘Generate EVC’ option. A code will be sent to your email and mobile number.
  • Go to the ‘e-verify’ option under the ‘My Account’ tab to verify your return. Select the option ‘I have EVC already’.
  • Enter the OTP that you have received on your mobile number registered with the bank. Click on ‘Submit’ and your ITR will be verified.

5. Generating EVC through your bank ATM

  • The income tax department offers the facility to generate code through selected bank ATMs. This facility is available for selected banks only.
  • To generate EVC, visit your bank’s ATM and swipe your ATM card.
  • Click on the ‘Pin for Income Tax filing’. An EVC will be sent to the registered mobile number.
  • Log-in to your e-filing account on the income tax website. 
  • Go to the ‘e-verify returns’ option. Select the ITR to verify it and select the option ‘Already generated EVC through bank ATM.’
  • Enter the EVC and your tax return will be verified. 

6. Sending signed ITR-V/Acknowledgement receipt

  • If one cannot verify your ITR using any of the electronic methods, then you can send a signed copy of ITR-V (Acknowledgement receipt) to the department.
  • ITR-V is a one-page document which must be signed in blue ink. It must be sent either via ordinary post or speed post. One cannot courier ITR-V. 
  • No supporting documents are required to be sent along with the ITR-V.
  • You will receive intimation via SMS on their mobile phone and email ID once their ITR is received by the tax department.
  • This intimation is only for receipt of ITR-V, the intimation for processing of tax return is separate.  

It is important to remember that uploading of return of income alone does not complete the return filing process. It is mandatory for you to verify your return to complete the process of return filing.

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