Income Tax Department, in order to ease the e-verification process of income tax returns (ITR), has come up with a new facility on its e-filing portal. The taxpayers can e-verify their ITR without even logging in to the e-filing website. The e-verification of the income tax return can be done using internet banking for which the e-filing portal has a section called ‘e-verify return’ under ‘My Account’ menu.
In another rule imposed from this year, the Income Tax department has made it mandatory to link the bank account in which you want your e-refund with that of your PAN card. Refunds are being issued electronically only now.
How to e-verify ITR via e-filing website
1. On the Income Tax e-filing website, you can see a new ‘e-verify return’ button flashing on the homepage under ‘Quick Links’.
2. Clicking on it will take you to the new e-verification page where you can verify ITR by simply giving your PAN, mentioning the assessment year and acknowledgment number mentioned in the ITR-V form.
3. Once you have submitted your ITR, it is mandatory to verify it within 120 days.
4. You can even do it even after August 31, the last day of filing ITR.
5. If you forget to verify ITR then it will not be processed and you may even be fined for not filing ITR.
6. The ITR-V form can be downloaded from the e-filing website once you have submitted your ITR.
7. To e-verify return other than via net banking, you will be required to generate an EVC, which you will receive on your registered phone number bank or Demat account.
8. However, you will need to pre-validate your bank or Demat account number before that.
9. To pre-validate the accounts, go to ‘profile setting’ and choose your bank or demat account you want to pre-validate.