Have you filed your income tax returns yet? Well, filing your returns alone is not enough, you have to verify them too.
E-filing of your taxes will not be processed, nor will you get your refunds until you verify your returns. You might even get a notice from the income tax department for not filing the returns.
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If you do not verify your returns within 120 days of filing them, they will get cancelled automatically and any new filing after that will be treated as a fresh filing and may attract a late fee if it is filed after the deadline.
So, it is advisable to verify your returns at the time of filing.
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You can either download the documents, sign them and post them to the Income Tax Department’s Centralised Processing Centre (CPC) in Bengaluru or verify the returns online by generating the Aadhaar one-time password or Electronic Verification Code (EVC).
If you want to verify online but have forgotten your e-filing password, don't worry. The income tax department has introduced an option on its website, which allows taxpayers to e-verify returns without logging in.
Here's what you need to do:
Open the income-tax department website
On the left-hand side, under 'Quick Links' tab, you will find a link to 'e-Verify Return.' Click on that
You will be redirected to another page where you have to fill three things - PAN number, assessment year and acknowledgement number as mentioned in your ITR-V. After filing your returns online, an acknowledgement form (ITR-V) opens up automatically. You must have downloaded the form. You will be able to find the acknowledgement number in that form.
4. Once you enter all the details and click on 'continue,' you will have three options to choose from:
I already have an EVC to e-verify my return
I do not have an EVC and I would like to generate EVC to e-verify my return
I would like to use Aadhaar OTP to e-verify my return
You can choose any of the above options and e-verify your returns. Once they are verified, you will see a pop-up message confirming it.