How to E-Verify your Income Tax Return (ITR)?

Written by : Knowledge Centre Team

2024-08-02

1156 Views

Locate branch

Resume journey

Pay Premium

The deadline for filing your income tax return is 31st July which falls after the end of the financial year for which you want to file the return. After filing your return, you must e-verify your income tax return.

Timeline to File ITR

The deadline is set by the income tax department and implies you don't have to pay any penalty if you file your return before this date. This deadline is called the due date for filing income tax returns.

Type of Assessee

If your statements don’t require auditing, you must file your return by 31st July. The due date, otherwise, varies depending on whether the assessee is an HUF, a firm, a company, a trust etc. As a thumb rule, if you have to undergo an audit, then your deadline is later than 31st July

Filing is Necessary

Not filing your income tax return is an offence and may attract a penalty or even a jail sentence of anywhere between 3 Months and 7 years. The fine amount is Rs.5,000 if your annual income exceeds Rs.5lakhs and Rs.1,000 for annual incomes below Rs.5lakhs.

E-Verification

To complete the ITR submission, e-verifying the ITR is a mandatory part of the process. The department gives sufficient time, of 120 days, to complete e-verification post-filing of the ITR. The 120-day timeline applies if you have filed your ITR by 31st July.

For filings done post 31st July, the time limit to e-verify the ITR is 30 days.

However, if you fail to e-verify within the stipulated time, the ITR becomes invalid and will be termed a “defective return”. The priority is to file your ITR by 31st July to avoid penalty plus get 120 days to e-verify. E-verification within 120 days is possible given the number of options to complete the same.

How to E-Verify your ITR?

The e-verification process is accessible on the income tax e-filing site and is open to both registered and non-registered users. The site gives several convenient options to e-verify your ITR. There are a few conditions to be met before proceeding with e-verification:

i. If you do not have your ITR details, such as acknowledgement number etc, handy, you must be a registered user on the portal
ii. If you are not a registered user, keep the ITR acknowledgement number ready
iii. ITR filing should already be completed-either by you or an e-return intermediary (ERI)

Action 1: Select the ITR that you wish to e-verify

You may then select any of the following convenient methods to e-verify your return:

I. Using Digital Signature Certificate

Step 1: e-Verify using Digital Signature Certificate (DSC): Choose DSC if you wish to e-verify your ITR immediately after filing. On the e-Verify page, choose “I would like to e-Verify using Digital Signature Certificate (DSC)”

Step 2: On the Verify Your Identity page, download the EMsigner utility.

Step 3: Select “I have downloaded and installed EMsigner utility” and continue.

Step 4: On the Data Sign page, select your Provider, Certificate and enter the Provider Password. Click Sign.

II. Using Aadhar OTP

Step 1: On the e-Verify page, choose “I would like to verify using OTP on the mobile number registered with Aadhaar”

Step 2: On the OTP page, check the box “I agree to validate my Aadhaar Details” and proceed to Generate Aadhaar OTP.

Step 3: Enter the OTP and click validate.

III. Using EVC

Step 1: Choose “I already have an Electronic Verification Code (EVC)”

Step 2: Enter EVC and e-verify

IV. Post-generation of EVC through Bank Account

Step 1: On the e-Verify page, choose “Through Bank Account”

Step 2: Enter the EVC and e-verify

V. Post-Generation of EVC through Demat Account

Step 1: Choose “Through Demat Account”

Step 2: Enter the EVC and e-verify

VI. Through Net Banking

Step 1: Choose “Through Net Banking”

Step 2: Select the bank and Continue

Step 3: Read the disclaimer

Step 4: Log in to your Net Banking using your Net Banking user ID and password.

Step 5: Click the link to log in to e-Filing from your bank's website.

Step 6: Go to the respective ITR/form and E-Verify.

VII. Generate EVC through Bank ATM

Step 1: Go to your bank’s ATM and insert your Debit/ATM card.

Step 2: Enter PIN.

Step 3: Generate EVC

An EVC will be sent to your mobile number

Step 4: The generated EVC can be used to e-Verify the return by following method # III

Is it Mandatory to E-Verify ITR?

One of the methods to verify the submitted ITR is through e-verification. If this method does not suit you, you may download the return filing acknowledgement, i.e., ITR V and send the same via post after signing it.

Who can e-Verify your ITR?

You must do it or alternatively anyone authorized by you through a valid power of attorney. You may authorize someone only if you are not available, for some reason, or are not in a condition to verify the return.

Filing ITR on time has multiple advantages. ITRs are required for visa applications and bank loans. So, your ITR may come in handy when you are asked for supporting documents. You save money on the penalty that would be levied if you miss the deadline. Moreover, verifying the return can be done within 120 days if you file your return before the due date. E-verifying the return is essential to ensure your ITR is accepted and does not become invalid.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised to exercise their caution and not to rely on the contents of the article as conclusive in nature. Readers should research further or consult an expert in this regard.

What Is The Procedure To Calculate The Capital Gain Tax In India

HRA Calculation: Everything You Need To Know

Tax Savings - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.