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July 14, 2020

Income Tax Return Filed but Not Verified? Now you can verify for Last 5 Years till 30 September 2020

Income Tax Return Filed but Not Verified? Now you can verify for Last 5 Years till 30 September 2020

CBDT announces one-time relaxation for verification of e-filed tax returns

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?

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 authorised 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 authorised 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 a 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.

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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:-

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.

Generating EVC via Net-banking

  • 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.

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

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. 

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. 

Benefit provided pertaining to verification of ITR

Central Board of Direct Taxes (CBDT) on 13th July, 2020 announced a one-time relaxation for verification of e-filed tax returns for AYs 2015-16 to 2019-20 pending due to non-filing of the ITR-V form. The IT Department has asked the taxpayers to complete the verification process by 30th September, 2020

The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. The lockdown though necessary has led to a disastrous impact on the economy. The Government of India announced a variety of measures to tackle the situation, from food security and extra funds for healthcare and for the states, to sector related incentives and tax deadline extensions.

The CBDT said that a large number of electronically filed ITRs are still remaining pending with the Income Tax Department for want of receipt of valid ITR-V form at CPC, Bengaluru from taxpayers amid the ongoing coronavirus pandemic and the consequent lockdown across the country.

As a one-time measure for resolving the grievances of the taxpayers associated with non filing of ITR V for earlier AY’s and to regularize such returns which have either become non-est (non-existent or absent) or have remained pending due to non filing/receipt of ITR V.

CBDT, in exercise of powers under Section 119, in case of returns for AYs 2015-16 to 2019-20 which were uploaded electronically by the taxpayer within the time alloted under Section 139 and which have remained incomplete due to non submission of ITR V for verification, permitted verification of such returns by 30th September, 2020.

This relaxation shall not apply in those cases, where during the intervening period, Income Tax Department has already taken recourse to any other measure as specified in the Act for ensuring filing of tax return by the taxpayer concerned after declaring the return as non-est (non-existent or absent).

This order can benefit a large number of taxpayers, mostly being individual taxpayers, who could not verify their past ITRs inadvertently. It provides a good opportunity to taxpayers for regularising their past ITRs and not only solving the issue of past non-compliance but also receiving past pending refunds stuck due to this procedural lapse.

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