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  Business   Economy  04 Aug 2017  E-verify your I-T returns in simple steps; Saturday is last day

E-verify your I-T returns in simple steps; Saturday is last day

THE ASIAN AGE.
Published : Aug 4, 2017, 6:20 pm IST
Updated : Aug 4, 2017, 6:21 pm IST

Taxpayer can now avoid 'need' of either sending ITR-V by ordinary post or digitally sign it and upload it.

Tax department has extended returns filing deadline from July 31 to August 5.
 Tax department has extended returns filing deadline from July 31 to August 5.

Mumbai: The Income Tax department on July 31 extended the last date for filing tax returns as there was a huge rush on to the tax filing website and as a result the site had crashed on that day.

The new last date is August 5 that is tomorrow and most probably government would not give any further extension. From this calendar year onward and for the 2017-18 assessment year, the I-T department has brought about some new changes to the income tax filing exercise.

It has further simplified tax filing forms for individuals and for Hindu Undivided Families by clubbing together additional forms. For convenience of the individual taxpayers, the tax authorities have come up with income tax returns or ITR-1 or SAHAJ form.

The tax department has also brought about another much more easier step to complete a tax filing exercise which would be welcomed by masses on a very large scale. The online tax returns filing process involves verification of ITR.

Until now it was a common practice during a tax filing exercise that after filing the income tax through the website, a taxpayer was required to either post the dully-signed ITR-Verification form to the CPC office in Bengaluru or had to digitally sign it and then again upload it.

The tax authorities have scrapped this cumbersome exercise from this year and have made the entire procedure more taxpayer friendly. To avail this facility, a taxpayer simply has to complete the online tax return filing and then follow the following tips so that could avoid sending ITR-V by post or digitally sign it;

Different options of e-verifying online tax returns

1- By generating Electronic Verification Code or EVC. You will receive your EVC on your mobile number registered with income tax department and also on your registered email ID. An EVC is a 10-digit alpha-numeric code.

2- You can also opt for e-verification through Aadhaar number along with a One Time Password.

3- If you are an avid internet banking user then for you e-verification exercise will be much more simpler. You can complete your tax returns by e-verifying it using net banking.

4- Tax department also sends you EVC via your bank account number. It validates your bank account details from you and then sends the e-code.

5- And if you are a stock market investor and hold a demat account then it will be much easier for you to e-verify your I-T returns. And finally;

6- You can get your EVC through your ATM card.

Tags: income tax, e-verification, e-verify tax returns, i-t, tax returns
Location: India, Maharashtra, Mumbai (Bombay)