CBDT PROVIDES 'ONE TIME RELAXATION' TO E-VERIFY THE PREVIOUS ITR

CBDT PROVIDES 'ONE TIME RELAXATION' TO E-VERIFY THE PREVIOUS ITR

Taxpayers now have the opportunity to e-verify their Income Tax Returns by 30th September 2020 filed for the previous year.

 

The Central Bank of Direct Taxes (CBDT) has recently issued a circular providing a one-time relaxation to the taxpayers who have not e-verified the Income tax returns (ITR) filed for assessment years 2015-16 to 2019-20. In the normal situation, the taxpayers are supposed to e-verify the ITR within 120 days of having filed the return online.


The department has taken this measure after acknowledging the fact that a large number of e-filed returns remained pending for processing for want of receipt of a valid ITR-V (verification) form.

So, Taxpayers now have the opportunity to e-verify their Income Tax Returns by 30th September 2020 filed for the previous year.
 

Under this relaxation, the following returns are covered:

  1. Original Return, 
  2. Belated Return, 
  3. Revised Return, etc.
     

How to e-verify the Income tax returns (ITR)?

As per the circular of the Central Bank of Direct Taxes (CBDT), the Income-tax returns (ITR) can be e-verified through the following ways: 

  • Through Aadhaar OTP
  • By logging into e-filing account through net banking
  • EVC through Bank Account Number
  • EVC through Demat Account Number
  • EVC through Bank ATM
  • By sending a duly signed physical copy of ITR-V through the post to the CPC, Bengaluru
     

Verification Process
 

A.  Through Aadhaar OTP

It is important for the taxpayers to link their Aadhaar number with PAN. The following is the process for e-verification through Aadhaar:

  • Log in to the incometaxindiaefiling.gov.in website
  • Then click on 'e-Verify return' on the left-hand-side menu
  • After that select the option to verify using Aadhaar OTP
  • An OTP will be generated and the taxpayer will receive the same on their registered mobile number
  • Enter the OTP on the portal to complete the process
     
B.  By logging into e-filing account through net banking

At present, there are few banks that provide the option to log in to the filing portal through net banking. The taxpayers who have the accounts with those banks and their PAN is linked to bank account can login to the eFiling portal through their Net banking.

The taxpayers have to verify the link to the eFiling option in the net banking platform with the respective banks. After login to the eFiling portal through net banking, the Taxpayer can e-verify the return. EVC will be generated and attached to the item automatically.
 

C.  EVC through Bank Account Number
  • Log in to the e-filing portal,
  • Pre-validate your bank account number
  • Go to e-verify link, 
  • Enter acknowledgment number
  • Select the option to e-verify using a bank account number and generate EVC. 
  • You will receive the EVC on your registered mobile number.
  • Enter this code on the portal to verify your return 
     
D.  EVC through Demat Account Number

Taxpayers will be able to generate an EVC by using Pre-validated DEMAT account details and the EVC can be used for e-Verification. 

Taxpayers are required to link their DEMAT account with the eFiling account and the same can be after login to e-filing portal and then go to profile settings, where they have to select the option Prevalidate DEMAT Account, thereby linking will be completed 

Both National Securities Depository Limited (NSDL) and Central Depository Services (India) Ltd (CDSL) provides the facility to pre-validate the Demat account
 

E.  EVC through Bank ATM

Taxpayers can generate an EVC through an ATM and the EVC can be used to check the listed items. 

In order to generate the EVC, select the option “PIN FOR INCOME TAX FILING” in the ATM. The taxpayer will receive the EVC on the registered mobile number.

The EVC generated through ATM will be valid for 72 Hours

At present, only a few banks provide this facility.
 

F.  By sending a duly signed physical copy of ITR-V through the post to the CPC, Bengaluru

The easiest way to e-verify the ITR is to send the duly signed physical copy of ITR-V through the post to the CPC, situated at Bengaluru, in case the taxpayers are unable to use the above-mentioned options.
 

Last date to e-verify the ITR

The taxpayers need to e-verify the ITR within 30th September 2020.
 

Circular link

https://www.incometaxindia.gov.in/Communications/Circular/Circular_13_2020.pdf
 

Conclusion

Those applicants who have not verified their ITR, can avail of this opportunity and do the verification within the specified time limit given by the department.
 

Edited by Minu Mishra

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