Income tax is an important aspect of financial management in India, and the filing of an ITR (Income Tax Return) is mandatory for individuals who earn an income. The process of ITR filing has become simpler with the introduction of e-filing.
However, many people are still unaware of the e-verification of ITR, which is a straightforward and hassle-free process. In this blog, we will discuss the e-verification process of the ITR and how it can make your life easier.
What is the e-Verification of ITR?
e-Verification of ITR is a simple and secure way to verify your Income Tax Return without having to send physical copies of ITR-V (ITR Verification) to the Central Processing Centre (CPC) in Bengaluru. The e-verification process involves the use of an electronic mode, such as net banking, the Aadhaar OTP, or e-Sign, to verify the ITR.
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Why should you choose e-Verification of ITR?
There are several reasons why you should choose e-verification of ITR over the traditional method of physical ITR-V. Some of the advantages are:
- Quick and Convenient: e-Verification of ITR is a quick and convenient process that saves time and effort. You can verify your ITR from the comfort of your home or office without having to go through the hassle of sending physical copies of the ITR-V.
- Environment-Friendly: The e-verification process is environmentally friendly as it eliminates the need for physical paper, reducing the carbon footprint.
- Secure: The e-verification process is secure and eliminates the risk of a lost or damaged ITR-V.
- Time-Saving: The e-verification process saves time as there is no need to wait for the physical ITR-V to reach the CPC.
How to e-Verify ITR?
The e-verification of ITR is a simple process and can be done in three ways:
- Net-Banking: If you have a bank account with any of the authorized banks, you can e-verify your ITR using your net-banking account. All you need to do is log in to your net-banking account and select the e-verification option.
- Aadhaar OTP: You can also e-verify your ITR using your Aadhaar OTP. The OTP will be sent to your registered mobile number, and you can use it to verify your ITR.
- e-Sign: e-Sign is a secure electronic signature service that allows you to sign your ITR electronically. This is a convenient option for those who do not have a bank account or Aadhaar.
Conclusion
In conclusion, e-verification of ITR is a convenient, secure, and time-saving process that makes the task of ITR filing much easier. By choosing the e-verification option, you can save time and effort and enjoy a hassle-free ITR filing experience. So, if you have not yet started using the e-verification process, it’s time to start now and enjoy the benefits it has to offer.
Additionally, it is important to note that once your ITR is e-verified, it is considered a valid document by the Income Tax Department. This means that if you have provided all the necessary information and documents, you do not have to worry about any further correspondence or queries from the department.
One important thing to keep in mind is that the e-verification process can only be done once the ITR has been filed. It is essential to check the details of your ITR carefully before e-verifying it to avoid any errors or discrepancies. In case of any errors, you can rectify the ITR and then proceed with the e-verification process.
In case you are unable to e-verify your ITR, you can still opt for the traditional method of sending the physical ITR-V to the CPC in Bengaluru. However, this process is time-consuming and can take up to 15 days for the ITR to be processed.
It is important to file your ITR on time to avoid any penalties or legal consequences. The deadline for ITR filing is usually July 31st of every financial year, and the deadline may be extended to October 31st for certain categories of taxpayers.
Frequently Asked Questions on e-Verification of ITR
Q.1) What is e-Verification of ITR?
e-Verification of ITR is a simple and secure way to verify your Income Tax Return without having to send physical copies of ITR-V to the Central Processing Centre (CPC) in Bengaluru. The e-verification process involves the use of an electronic mode, such as net banking, Aadhaar OTP, or e-Sign, to verify the ITR.
Q.2) Why should I choose e-Verification of ITR?
e-Verification of ITR is a quick and convenient process that saves time and effort. It is also environmentally friendly, secure, and time-saving, making it a better option compared to the traditional method of physical ITR-V.
Q.3) How do I e-Verify my ITR?
You can e-verify your ITR in three ways: net banking, Aadhaar OTP, or e-Sign. Log in to your net banking account, enter your Aadhaar number to receive an OTP, or sign your ITR electronically using e-Sign.
Q.4) Can I e-Verify my ITR after the deadline?
No, you cannot e-verify your ITR after the deadline. It is important to file and e-verify your ITR on time to avoid any penalties or legal consequences.
Q.5) What happens if I am unable to e-Verify my ITR?
In case you are unable to e-verify your ITR, you can opt for the traditional method of sending the physical ITR-V to the CPC in Bengaluru. However, this process is time-consuming and can take up to 15 days for the ITR to be processed.
Q.6) Is e-Verification of ITR considered as a valid document by the Income Tax Department?
Yes, once your ITR is e-verified, it is considered a valid document by the Income Tax Department.
Q.7) Can I make changes to my ITR after e-Verifying it?
No, once your ITR is e-verified, you cannot make any changes to it. It is important to check the details of your ITR carefully before e-verifying it to avoid any errors or discrepancies.
Q.8) What is the deadline for e-Verifying ITR?
The deadline for e-verifying ITR is usually July 31st of every financial year, and the deadline may be extended to October 31st for certain categories of taxpayers.
Q.9) Is e-Verification of the ITR mandatory?
Yes, e-verification of ITR is mandatory for individuals who earn an income and are required to file their ITR.
Q.10) Is e-Verification of the ITR a one-time process?
No, the e-verification of an ITR is not a one-time process. You will have to e-verify your ITR every financial year when you file your ITR.
