ITR filing: Income tax return (ITR) filing has many steps to be completed before you can say that the procedure is fully done. In the modern era of electronic tax filing, it is imperative to grasp the intricacies of securing your Income Tax Return (ITR) acknowledgment number. The unique number serves as validation that your ITR has been duly submitted and approved by the Income Tax Department.
The acknowledgment number materialises upon the successful lodgment of your ITR, finding its place within the ITR-V (Income Tax Return Verification) form. Following the e-filing process, this form is dispatched to your designated email account. In the event of non-receipt, the acknowledgment number can be procured from the Income Tax e-filing portal.
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The document known as Income Tax Return Verification Form, abbreviated as ITR-V, consists of one page. When an individual files their income tax return electronically without utilizing a digital signature, they will receive the ITR-V document for verification purposes.
To download the ITR-V form, which includes the acknowledgement number, through the Income Tax Department e-filing portal, please follow these steps:
> Visit the e-filing portal of the Income Tax Department.
> Log in by entering your PAN details and password.
> Navigate to e-File > Income Tax returns > View filed returns.
> Locate the list of your filed ITRs and identify the assessment year for which you require the acknowledgement number.
> Click on the ‘download form’ button adjacent to the relevant assessment year. This action will initiate the downloading of the ITR-V form, wherein your acknowledgement number is included.
How to e-verify your ITR?
After receiving your acknowledgement number, the subsequent crucial step involves the verification of your Income Tax Return (ITR). It is imperative for taxpayers to verify their returns within a span of 30 days from the date of filing in order to successfully complete the process.
Methods available for e-Verifying your income tax returns online in India:
One Time Password (OTP) on the mobile number linked with Aadhaar: You can validate your return by utilizing a One Time Password (OTP) sent to your mobile number registered with your Aadhaar card.
Electronic Verification Code (EVC) obtained through your pre-validated bank account: An EVC can be generated via your pre-validated bank account. This unique code can be utilized for the verification of your return.
EVC via ATM (Offline Method): Another alternative is to generate an EVC through an ATM. This process involves generating an EVC using your debit card at an ATM, which can then be used for validating your return.
Net banking allows taxpayers to electronically verify their returns, making the process more convenient. This involves accessing your bank’s net banking portal and utilizing the e-Verification service provided.
Utilising a Digital Signature Certificate (DSC) provides an additional method for e-Verifying your return, adding an extra layer of security to the process. If you possess a DSC, you can use it to electronically authenticate your tax return.