The process of filing income tax returns gets completed when your ITR-V is verified. The ITR-V is a document that the income tax department sends taxpayers after they have filed their income tax returns. This document has to be downloaded and verified.
But sometimes it happens that the taxpayer is not able to verify his or her ITR-V. Your ITR-V can be rejected by the tax department for a number of reasons. Let’s take a look at the different ways to e-verify your ITR-V and how to avoid getting a rejection.
Physical verification of ITR-V
Taxpayers can verify their ITR-V by downloading a copy from their email or from their income tax department website account. This physical copy of the ITR-V has to be signed and sent to the income tax department office in Bangalore.
The tax department will reject your physical ITR-V if your signature is missing on it or if the copy is in poor quality. Here, poor quality means that the ITR-V copy is in a condition that makes it difficult for the department to read the entered details. This could happen if the ITR-V copy gets torn, crumpled or wet. So make sure that the physical copy is properly signed and reaches CPC, Bangalore in mint condition. Also make sure that the ITR-V is printed in A4 sheets only.
Furthermore, taxpayers have to ensure that the ITR-V reaches CPC within 120 days of filing their income tax returns. Late submission of ITR-V can also lead to rejection.
Electronic verification of ITR-V
The ITR-V can also be verified electronically. E-verification can be done by any of the following methods:
- By using your netbanking account
- By generating an electronic verification code (EVC)
- By using your Aadhar card to generate an EVC
- By using your bank account details:
- By using pre-validation facility of certain banks
- By using your demat account
E-verification by using a EVC has to be done within 72 hours of generating the code as the code expires after 72 hours. The only problem you can face while e-verifying ITR-V is in receiving the verification code if your email address or phone number is entered incorrectly.
In either case, when your ITR-V gets rejected, you will have to try to get it verified again or in some cases, taxpayers might have to file revised returns. But all of this fuss can be easily avoided if you ensure that the ITR-V is properly verified either physically or electronically.
This article was published in Deccan Herald 25 July 2016.