New Delhi: The deadline for filing Income Tax Return (ITR) is almost a month away. While several last minute filers will still be preparing the paper work, several others might have already done the process.
Those who have already filed the ITR, must also note a very essential factor to complete the return filing process. In order to complete the process of filing of the ITR, you must also verify your Income Tax Returns. Without verification within the stipulated time, an ITR is treated as invalid. Or, in other words, an ITR filing not verified, will not be treated as a valid return by the income tax department. According to income tax laws, an ITR must be verified within 120 days from the date of filing the return.
e-Verification is the most convenient and instant way to verify your ITR. These are 6 different ways to e-Verify your returns online.
1. OTP on mobile number registered with Aadhaar, or
2. EVC generated through your pre-validated bank account, or
3. EVC generated through your pre-validated demat account, or
4. EVC through ATM (offline method), or
5. Net Banking, or
6. Digital Signature Certificate (DSC).
How will I know that my e-Verification is complete?
When you are e-Verifying your return, a success message will be displayed along with a Transaction ID. Alternatively, you will also get an email will on your registered mail ID with the e-Filing portal once your e-Verification process is successful.
For those who are yet to file their Income Tax Return (ITR), the deadline to do so is December 31. This year’s income tax return will be filed for the Assessment Year 2021-22 or FY 2020-21. The ITR this year is applicable for income earned between April 1, 2020 and March 31, 2021.