After filing the ITR, it should be verified by the assessee and is not deemed valid unless it is verified by the concerned assessee. The authorities have made it possible to e-verify the return either physically or electronically.
Those who select the option of e-filing can do so either at the time of uploading or after uploading. When the return has been already uploaded, the taxpayer can verify the return by clicking ‘e-verify return’ option under the option “My account” after logging in the e-filing website.
There are six ways in which the returns can be verified electronically.
Through One-time Password – A one-time password is sent to the registered mobile number of the user and is valid of 72 hours. The OTP can be used by the taxpayer, given that Gross Income – deduction is less than or equal to Rs 5 lakh. Also, the refund/demand is less than or equal to 100.
Using Net banking – The return can also be verified using the net banking option. For this, the individual would need to log-in in the net-banking account and click on the tab related to income tax filing. The tax payer would then select the e-verify option. Once, you land on the income tax e-filing website, Click on My account to generate the OTP which would be valid for 72 hours.
Bank account-based validation system – As a pre-requisite one needs to pre-validate his bank account first. The option is available in the profile settings menu in the e-filing account. After the pre-validation, EVC can be generated. Also, the bank account that the tax-payer is using for the validation should be present in the list. As of now there are just 12 banks offering the facility of account-based validation.
Through Demat account number – Just like in the bank account validation system, one can also verify through the demat account number. In order to use the demat account number, it should be validated first just like the bank account. After selecting the depository and feed the mobile number and email ID. After the details are confirmed by the depository, you can validate. The tax-payer would be able to change the mobile number or e-mail ID only after the revalidation with the depository.
Bank ATM – Start with swiping the ATM on your bank ATM and then click on “Pin for e-filing”. You would receive the registered mobile number. Login to the e-filing portal and choose verification mode as “Already generated EVC through Bank ATM”. The taxpayer can submit the return and enter the EVC to verify the ITR.
Aadhar OTP – After logging in to the e-filing portal, the returns can be submitted, and the verification mode should be selected as “Aadhar OTP”. The OTP would be sent on the registered mobile number linked with the Aadhar. Enter the OTP when prompted and ITR would be verified.
For those who do not want to e-verify can verify the ITR by sending the hard copy of ITR-V to CPC, Bengaluru.