The last date for filing income tax return (ITR) is July 21, just four days away. Taxpayers need to submit their ITR for the financial year 2021-22 (or assessment year 2022-23) before the deadline to avoid any fine or penalty.
The last date for filing income tax return (ITR) is July 21, just four days away. Taxpayers need to submit their ITR for the financial year 2021-22 (or assessment year 2022-23) before the deadline to avoid any fine or penalty.
However, filing ITR online is followed by another important step, which if left incomplete, will lead to failure of failing of your tax return. One you are done filing your income tax return, the next step is to verify it.
The Income Tax Department processes your return only if it is verified. Hence, you will receive refunds only if the return is submitted and verified.
Six different ways of e-verification
As per income tax laws, “ITR will not be considered valid if it is not verified within 120 days from the date of filing”. As per the rule you can verify this in six ways.
- Generate Aadhaar OTP
- Existing Aadhaar OTP
- Existing EVC
- Generate EVC through a bank account
- Generate EVC through the Demat account
- Generate EVC through bank ATM option (offline)
How to e-verify your ITR through Aadhaar
- Log on to Income Tax Department’s official website www.incometax.gov.in and go to your e-filing account
- Under the e-filing tab, select Income Tax Returns > e-Verify Return
- In the ‘e-Verify Return’ page, select the method of e-verification to Aadhaar
- Under the e-verify return page, select ‘I would like to e-verify using OTP on a mobile number registered with Aadhaar.
- A pop-up will appear on your screen. You will be required to select the tick box saying ‘I agree to validate my Aadhaar details’ and click on the ‘Generate Aadhaar OTP’ button.
- 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 the ‘Submit’ button. On successful submission, your ITR will be verified. OTP is valid only for 15 minutes.
Benfits of e-verification
e-Verification with an Electronic Verification Code (EVC) or an Aadhaar OTP, as the case may be, is beneficial in as much as you can do away with signing and sending a hard copy of the return filing acknowledgement. Further, e-verification also helps quick processing of your return when compared to the other modes of verification.
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