Steps After Filing ITR: Verification and Submission Procedures

Filing an Income Tax Return (ITR) is a crucial step in ensuring compliance with tax regulations. However, the process does not end with the submission of the ITR. After uploading the return, taxpayers must follow a series of steps to verify their ITR-V and ensure its validity. This article provides a comprehensive guide to the different methods of ITR verification and submission procedures.

1. Overview of ITR Verification Requirements

After uploading your ITR, you will be provided with an ITR-V (Verification of ITR-V). This document needs to be e-verified within 120 days or sent as a signed hard copy to CPC Bangalore. Failure to do so will invalidate your return.

2. Methods of E-Verification

There are several methods available for e-verification:

2.1. Aadhaar-Based OTP Verification

This method is convenient for those who have linked their Aadhaar and PAN details. Here are the steps to follow:

Go to My Account and click on e-verify return. Select the option to generate Aadhaar OTP. An SMS with a 6-digit OTP will be sent to your registered mobile number. Enter the OTP and submit.

Remember, the Aadhaar-based OTP is valid only for 30 minutes.

2.2. Generating EVC via Net-banking

Net-banking verification is another convenient option. Follow these steps:

Login to your bank account on the bank's website. Select the e-verify option under Tax tab. Generate a 10-digit alpha-numeric code via email and mobile. Enter the OTP on the e-verify tab and submit.

2.3. Generating EVC via Bank Account

This method involves linking your bank account to your ITR. The following banks support this:

Allahabad Bank Andhra Bank Axis Bank Ltd Bank of Baroda Indian Bank Indian Overseas Bank

The process involves:

Pre-validate your bank account in your e-filing profile. Enter details such as bank name, account number, IFSC code, and mobile number. Select Generate EVC and enter the code sent to your mobile number.

2.4. Verifying Tax-Returns through Demat Account

If you have a demat account, you can use it for E-verification:

Go to profile settings and enter your mobile number, email ID, and depository name. Pre-validate your demat account. Generate EVC through Demat Account number. Enter the EVC and verify your ITR.

2.5. Generating EVC through Bank ATM

Selected banks offer the facility to generate codes through ATMs:

Swim your ATM card and select PIN for Income Tax Filing. Receive an EVC on your registered mobile number. Enter the EVC to verify your ITR.

3. Submission via Signed ITR-V

If you cannot use any of the electronic methods, you can send a signed copy of ITR-V to CPC Bangalore via ordinary or speed post:

ITR-V should be signed in blue ink and sent via ordinary or speed post only. CPC Post Box No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka, India. No supporting documents are required with ITR-V. You will receive an SMS and email intimation upon receipt by the tax department.

4. Conclusion

Continuous compliance with tax regulations necessitates understanding the ITR verification and submission procedures. By following the steps outlined above, taxpayers can ensure the validity of their ITR and stay in line with tax laws.