How to e-Verify Your Income Tax Return - PowerPoint PPT Presentation

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How to e-Verify Your Income Tax Return

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Digital Verification or e-Verification is a process through which you can verify your Income Tax Return (ITR) online without the need to send a physical copy of your ITR-V to the Income Tax Department. Here are the steps to e-Verify your Income Tax Return – PowerPoint PPT presentation

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Title: How to e-Verify Your Income Tax Return


1
How to e-Verify Your Income Tax Return
  • Digital Verification or e-Verification is a
    process through which you can verify your Income
    Tax Return (ITR) online without the need to send
    a physical copy of your ITR-V to the Income Tax
    Department. Here are the steps to e-Verify your
    Income Tax Return
  • Login to the Income Tax e-filing portal
    (https//filemydoc.com/) using your PAN,
    password, and date of birth/ date of
    incorporation.
  • After logging in, click on the 'View
    Returns/Forms' option from the dashboard and
    select the 'Income Tax Returns' option from the
    drop-down menu.
  • Choose the relevant Assessment Year for which you
    want to verify your return and click on the 'Ack
    No.' or 'Status' button to view the details of
    your ITR.
  • If your ITR has not been verified yet, you will
    see a 'Click here to e-Verify' option. Click on
    it.
  • You will be redirected to the e-Verification page
    where you can choose one of the following methods
    to verify your ITR
  • Aadhaar OTP If your Aadhaar is linked with your
    PAN and your mobile number is registered with
    Aadhaar, you can choose this option to generate
    an OTP and verify your ITR.
  • Net Banking If your bank account is linked with
    your PAN, you can use the net banking facility of
    your bank to verify your ITR.
  • Bank Account Number If you do not have net
    banking facility, you can choose this option and
    provide your bank account number and IFSC code to
    verify your ITR.
  • Demat Account Number If you have a Demat
    account, you can choose this option and provide
    your Demat account number to verify your ITR.
  • Pre-Validated Bank Account If you have
    pre-validated your bank account on the e-filing
    portal, you can choose this option to verify your
    ITR.
  • Once you select the verification method, click on
    the 'Generate OTP' or 'Login' button as
    applicable and complete the verification process.
  • After successful verification, you will see a
    success message on the screen and your ITR will
    be considered verified.
  • Note It is important to e-Verify your ITR within
    120 days of filing your return to avoid any
    penalties or consequences.
  • Frequently Asked Questions
  • Sure, here are some frequently asked questions
    about Income Tax Returns
  • What is an Income Tax Return (ITR)?

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2
Who needs to file an Income Tax Return (ITR)? Any
person whose total income during the financial
year exceeds the basic exemption limit specified
by the Income Tax Department is required to file
an Income Tax Return. What is the due date for
filing an Income Tax Return (ITR)? The due date
for filing an Income Tax Return (ITR) varies
depending on the type of taxpayer and their
income. For individuals, the due date is usually
31st July of the assessment year. What are the
different types of Income Tax Returns
(ITRs)? There are different types of Income Tax
Returns (ITRs) based on the type of taxpayer and
their income. The most common types of ITRs are
ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and
ITR-7. Can I file my Income Tax Return (ITR)
online? Yes, you can file your Income Tax Return
(ITR) online through the Income Tax Department's
e-filing portal. What is e-Verification of
Income Tax Return? E-Verification is a process
through which you can verify your Income Tax
Return (ITR) online without the need to send a
physical copy of your ITR-V to the Income Tax
Department. What are the consequences of not
filing an Income Tax Return (ITR)? Not filing an
Income Tax Return (ITR) can lead to penalties,
interest, and even prosecution in some cases. It
can also affect your ability to obtain loans or
visas in the future. How long do I need to keep
my Income Tax Return (ITR) records? It is
recommended to keep your Income Tax Return (ITR)
records for at least seven years from the end of
the financial year for which the return was filed.
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