e Verification Process of ITR | SBI | ICICI | HDFC Net Banking | Aadhar Card Generating evc
The overall process for tax returns was very complicated earlier. An individual received an acknowledgement copy named ITR-V after paying out his/her tax returns. Then an individual had to verify the acknowledgement copy to complete the process for tax returns. The copy of ITR-V was needed to be sent to Bangalore for verification purposes and thus the procedure of paying out tax returns was very long. Actually, sending the full page verification document named ITR-V to Bangalore was the major problem faced by the common people.
But the new E-verification process envisions to make this process simpler, smarter and faster. This new E-verification process will abolish the existence of the earlier long term procedure. Now people won’t have to wait until the ITR-V reaches Bangalore.
By using the new E-verification process an individual can easily verify their tax returns online through Electronic Verification Code (EVC). This inventive method will rapid up the process of verifying income tax returns. An individual will also get the opportunity to verify their tax returns using Aadhar based verification process. The major benefit of this E-verification process is that it will allow the verification process to run quickly and smoothly and all of the tax payers will be eligible to verify their tax returns. This process will certainly benefit the small tax payers.
Detailed Information about Electronic Verification Code (EVC)
|What is EVC?
|EVC is actually a verification code which is provided to the tax payers so that they would be able to verify their income tax returns online.
|What is the main benefit of EVC?
|The major benefit of EVC is that it is an online based system. No tax payers will need to submit a manual form verified from Bangalore. Now the tax payers can verify their forms through EVC and thus the tax payers will be able to do it from their home which is the main benefit of using EVC.
|How does EVC incorporate?
|EVC incorporates a definite set of characters that traces a number. The traced number provides the full information about the certain individual and their submitted documents.
|From which year this service would be provided?
|EVC service is provided currently for the financial year of 2015-16. So, an individual can verify their income tax returns for the financial year 2015-16 through EVC.
Electronic Verification Code (EVC) service is currently available only for financial year 2015-16. So, if anybody wills to pay their tax returns of past years then they have to send the signed copy of ITR-V to Bangalore within 120 days to verify their tax returns manually. An individual can send their copy through ordinary or speed post and same process applies for anybody who is unable to verify online.
Procedures of generating Electronic Verification Code (EVC)
- An individual may link their Aadhar card along with their PAN number and authenticate it with the password for generating EVC. An individual will have to be conscious about the fact that their date of birth and gender should be same on both the documents because otherwise EVC will not be generated.
- For tax returns up to Rs. 5 lakh or less than Rs. 5 lakh, an individual will be eligible to generate EVC through the official website of filling tax returns. The point one should consider here is that one won’t be able to make any claim for refund if one uses this process.
- An individual can go to the ATMs of the Major Nationalized Banks if they want to generate their Electronic Verification Code.
- An individual can also generate EVC through online facilities. For this, an individual will have to contact with the banks which offers this facility. An individual will have to follow the procedures of net baking and they would be guided through the procedures by the contacted bank and thus they will be able to generate EVC.
More important facts about Electronic Verification Code (EVC)
- An individual will have to use the Electronic Verification Code along with their PAN Card and if an individual doesn’t use their EVC along with the PAN Card, the alphanumeric code consisting of 10 digits will be declared invalid.
- EVC is a very important code and it can be used to authenticate several ITRs. ITR 1, 2A, 3, 4 and 4S can be authenticated through EVC.
- Regardless of original or return, an EVC can only be used to authenticate one ITR. An individual will not be allowed to verify more than one ITR with one EVC.
- EVC can be generated as many times as an individual wants. One EVC can be used to authenticate one ITR and for this an individual can generate as many EVCs as they want to authenticate the ITRs. An individual will have 72 hours after they have generated their EVC.
- The process of generating the EVC has been a blessing for the common people and it has been identified as a convenient procedure as the earlier procedure was too much prolonged. An individual had to follow certain dates for the submission of their documents on basis of the earlier process, but this new process gives an individual the flexibility to opt for the authentication process as per their convenience.
The process of generating EVC by using Bank ATM
For generating EVC with the help of Bank ATM, one needs to link their PAN Card with that Bank ATM. An individual will be more benefitted if they doesn’t use net banking facilities. An individual will need to register their PAN Card with the IT department.
For generating EVC by using Bank ATM, one has to go to the Bank ATM to swipe their card. One has to put their correct pin number in that ATM when asked. Then one has to select the option of the process of generating EVC for income tax return filling. After selecting this option, the EVC will be provided to the registered mobile number of the individual.
The process of generating EVC by using Net Banking
For generating EVC by using Online Banking, one has to be very careful of the fact that all of the banks are not authorized by the income tax department for providing EVC to individuals. One has to contact with the bank or check the website of the bank carefully to know if the bank is authorized by the income tax department. After validating that the bank is authorized, one will need to validate their PAN Card with KYC. Then one will have to login to their online bank account on the official website of the bank.
Then one will have to search for income tax, e-filling option after logging in. The search results may differ from one bank to another but is not a matter of concern as the authorized banks will obviously provide income tax filling procedure. Then one will have to select the certain tab and go on and select the option of managing their taxes. After clicking the option, one will be redirected to the official website of the Tax Department.
Then one will be obliged to confirm their PAN and complete a few formalities. The official website of the banks will guide the individuals for completing the formalities. Following the instructions properly, one will be able to generate EVC through Net Banking.
The process of generating EVC by using the official website of Income tax returns
To be eligible to generate through the official website, an individual must have to ensure their ITR is less than Rs. 5 lakh. If one is eligible, they may proceed to the next step which is to register and login to the official website of Income Tax returns. Then an individual has to click on the e-file tab and select the option of ‘’Generate EVC’’. Then an individual will get their EVC on their registered mobile number and email address.
The process of generating EVC by using Aadhar OTP
One can verify ITR by using Aadhar card. Firstly, one has to link their Aadhar card in the Income Tax website and then they have to register their PAN Number on the very website. After one has verified their Aadhar card, they will receive an OTP on their registered mobile number. This OTP will be useful for authenticating the ITR.
If an individual is not able to do any of the mentioned processes above, they will have to make sure they obtain the physical copy of ITR-V. The earlier option of sending the physical copy to Bangalore is still available but an individual will need to send it in 120 days from the e-fling date. It is recommended for an individual to do this process using the online method because there might be certain problems with postal issues and the verification process can be hampered.
Authentication of Income Tax Returns by using EVC
Firstly, an individual has to upload the entire document regarding E-verification of ITR. Then an individual will be able to login to the Income Tax official Website of E-filling. Then the individual has to click on the e-file button to gain access to the e-verify return option. After clicking the e-verify option, an individual will be able to see the list of documents which are uploaded and unverified till then in a table format. An individual can click on e-verify to verify the returns they wish.
Thorough Information about some options in the website
After an individual has clicked the e-verify option, they will be provided with certain options and below there is a table to provide the names of the options and thorough information about them.
|Name of Option
|Already have an EVC and would like to submit EVC
|If an individual clicks on this option, then they have to generate EVC by using any of the processes mentioned earlier. After that a box will appear requiring EVC and then an individual will have to provide the 10 digit number that they received. The one will be able to download the acknowledgment.
|Don’t have an EVC and would like to submit EVC
|If an individual click this option then they will have to generate the EVC first and they will be able to do it through online banking if their net income is less than 5 lakhs. If anybody wills to generate EVC. They will be logged out of the website and redirected to the list of banks with authorized EVC facility. After generating the EVC, one will be redirected to the official website and then one will have to start the process all over again by clicking e-verify.
|Would like to generate Aadhar OTP to e-verify one’s return
|If an individual clicks this option they would be obliged to generate EVC with the help of Aadhar Card.
Utilization of Aadhar Number for E-verification of Income Tax return
Utilization of Aadhar Number for E-verification of Income Tax return is only available if an individual had already registered their mobile number with Aadhar. Aadhar is a very essential option currently for the people of India as the government is depending more and more on Aadhar system and it has been welcomed thoroughly. An individual can only use Aadhar number for E-verification if their Aadhar number is linked with the PAN. The Aadhar number will only be linked with the PAN if the date of birth and the gender provided on both the documents is same.
For Utilization of Aadhar Number for E-verification of Income Tax return, one will have to login to the official website of IT and there one will see a pop-up which will ask them to link their Aadhar number with E-filling account. One will have the flexibility to link them at the very time they browse the website or one will be able to link the Aadhar number later.
If an individual wishes to link their Aadhar number with e-filling account, they will have to provide generic information like their date of birth and gender. An individual will need to fill out the details as per their PAN card. Then they will be asked to enter their Aadhar number carefully and it is necessary that the other number is linked with PAN. After that, an individual will be obliged to enter the OTP which was sent to their mobile earlier. An OTP is valid only for 10 months, so an individual must be careful about this.
If an individual choses the option of linking the Aadhar number later, they would not be eligible to generate their EVC then. If anybody wishes to link their Aadhar number later, they would be obliged to go to their profile and then select the option of linking the Aadhar number with e-filling.
Nevertheless, an individual will be eligible to submit their e-verification return if their Aadhar number is linked with PAN. Then they will have to select the option 3 which is about generating Aadhar OTP to e-verify their return. After the submission, one time password will be sent to the registered mobile number of the individual and they would be obliged to enter the OTP. After completing the process, an individual will have to download the acknowledgement.
After the completion of E-verification
After an individual has submitted the OTP, they will see a success page and will also see an acknowledgement which they would be obliged to download. After downloading, one will be able to see that the acknowledgement copy is exactly same as the copy of ITR-V. In the acknowledgement copy, it is strictly mentioned that, the downloaded copy must not be sent to Bangalore. The ITR status now should be “EVC Accepted”.
Actually, this new process of generating EVC online, has been welcomed throughout the nation. The fact that this process will also help the small tax payers is itself a very good news. An individual will have certain options to generate EVC. The earlier process of generating EVC required more time and needed timeliness for the submission of documents. The earlier process was harder for common people and led to a lot of hassle. The verification process was also hampered due to the problems of post and the verification process sometimes didn’t take place timely.
The new process of generating EVC through Online facilities will save time, energy and labor. This process ensures verification if the individuals follow the certain set of rules. This process is easy to understand and acknowledge. This process will help the common people very much. This process is very convenient and the correct one to be introduced currently.