How to Verify Your Income Tax Return

Verifying your Income Tax Return (ITR) is a crucial step in ensuring the smooth processing of your tax return. If the verification isn't completed within the specified time frame, your return will be considered invalid, which could lead to losing your refund and other penalties.

When you file your ITR, it must be verified either immediately or within 30 days. After this period, the return will be deemed invalid, and the Income Tax Department will not process it.

We have noticed that many NRIs face challenges in verifying their returns due to various reasons, such as incompatible bank accounts, lack of Aadhaar, or the inability to use Aadhaar OTP for verification. Here’s a breakdown of the different methods available for e-verifying your ITR:

Methods to Verify Your ITR:

1. Aadhaar OTP Verification: If you have Aadhaar and your mobile number is linked to it, you can verify your ITR using the Aadhaar OTP method.
• On the E-Verify page, select "I would like to verify using OTP on mobile number registered with Aadhaar" and click Continue.
• You’ll receive an OTP on your registered mobile number. Enter the OTP and click Submit to complete the verification. A confirmation pop-up will appear indicating that your return has been successfully e-verified.
2. Net Banking: If your bank is listed on the Income Tax portal, you can verify your return using net banking.
• On the E-Verify page, choose "Through Net Banking" and click Continue.
• Select your bank from the list, read the disclaimer, and click Continue.
• If your bank account is not compatible with the Income Tax portal, this option may not work for you.
3. Bank Account EVC: You can also verify your ITR by generating an Electronic Verification Code (EVC) via your bank account.
• Your bank account must be pre-validated on the Income Tax portal to generate an EVC.
• On the E-Verify page, select "Through Bank Account" and click Continue. The EVC will be sent to your mobile number.
• If your bank is not compatible, this method won't work either.
4. Demat Account EVC: Similar to the bank account EVC method, you can use a pre-validated Demat account to verify your ITR.
• On the E-Verify page, choose "Through Demat Account" and click Continue.
• The EVC will be sent to your registered mobile number and email ID.
• Enter the EVC and submit the form.
5. Digital Signature Certificate (DSC): If you have a DSC, you can use it to verify your ITR.
• Ensure your DSC is registered with the Income Tax Department and properly connected to your computer.
• On the E-Verify page, select "I would like to verify using DSC" and click Continue.
• Choose your DSC certificate and enter your DSC PIN to authenticate and submit your return securely.
6. Physically Sending the Signed ITR-V: If you are unable to verify your ITR through electronic methods, you can send a signed copy of the ITR-V (Acknowledgment Receipt) to the Income Tax Department.
• The ITR-V must be signed in blue ink and sent via speed post or government post (courier services are not allowed).

Important Deadline:

Starting from 1st August 2022, the deadline to verify your ITR is 30 days from the filing date. If you do not complete the verification within this time frame, your ITR will be considered invalid. This means you will not receive your refund, and your return will be treated as if it was never filed for that financial year.

Conclusion:

Verifying your ITR is essential to ensure that your return is processed correctly and to avoid any delays or issues with refunds. Whether you use Aadhaar OTP, net banking, EVC, DSC, or the physical ITR-V submission, make sure you verify your return within the 30-day period to avoid complications.

Disclaimer: Aim of this article is to give basic knowledge about the topic to people who are not in touch with Indian tax norms. When anybody is dealing with these kinds of cases practically, he shall consider all relevant provisions of all applicable Laws like FEMA/Income Tax/RBI /Companies Act etc.

If you have any questions or need help, feel free to reach out to us at info@nricaservices.com or ushma@nricaservices.com, or contact us directly via WhatsApp at +91 9910075924.

Ensure you complete your verification and let your tax filing process go smoothly!