e-Verification of ITR

What is e-Verification of the Income Tax Return (ITR)

E-verification of the ITR refers to the process by which the income tax return filed by a taxpayer is authenticated and verified electronically. E-verification was introduced by the Income Tax Department to expedite and simplify the verification process.

There are different ways and methods for the e-verification of ITR:

1. Net Banking
2. Aadhaar OTP
3. Digital Signature Certificate (DSC)
4. Electronic Verification Code (EVC) - ATM
5. Electronic Verification Code (EVC) - Bank/Demat Account

Benefits of e-verification of the ITR (Income Tax Return)

The verification of the ITR is an important step in the process of filing the income tax. It makes sure that your ITR is authentic and valid. There are some common benefits of the e-verification, which are as follows:

1. Saves Time and Effort: E-verification of the ITR online saves your time and effort because there is no need for the physical submission of the document and visiting the office. It is also a hassle-free and quick process to confirm the validity of your ITR.
2. Reduces processing Time: E-verification helps in speeding up the process of ITR by the department. Once the ITR file is e-verified, the income tax department processes it quickly, and it also results in faster refunds, if applicable.

Timelines for e-verification of the ITR

The taxpayer needs to verify the return of income within 30 days from the date the return is filed. The e-verification of ITR time limit is 30 days, and if it crosses, you may face the following consequences:

1. Your ITR will be considered the same as if it were never filed, and you will face the same consequences of non-filing return of income ( such as late filing fees exposure and interest) under the Income Tax Act, 1961.
2. If you failed to verify your ITR, then it can also result in delaying or denying your income tax return processing by the department. If any refund is due or applicable, then it would also be delayed or denied.