Income Tax Return E-verification Time Limit Reduced to 30 days

The Income Tax department claimed that over 6.7 crore income tax returns were filed for the FY 2022-23 (AY 2023-24). However, filing the ITR is only one part of the process; taxpayers must also verify their income tax return (ITR) to complete the filing. 

Failure to verify the ITR within the designated 30-day timeframe will invalidate it. To streamline this, the CBDT has reduced the ITR verification time restriction from 120 days to 30 days from the date of return filing.

Filing your income tax returns is firmly essential to escape from the punishment of laws. If you do not want to be behind iron bars or penalty, make sure you file income tax returns on time. when you are done with filing ITR, the next step is to verify the tax returns you have filed before, and later the income tax department will process your application.

Ensuring the Validity of Income Tax Return Filing: A Guide to ITR E-Verification

ITR e-verification is a crucial step to electronically verify your Income Tax Return (ITR). It is mandatory to complete this process within 30 days of filing your ITR. Failure to e-verify your ITR within this timeframe will render it invalid. 

If you verify your ITR after the designated period, the verification date will be treated as the new filing date, potentially resulting in penalties as per the provisions of the Income-Tax Act 1961. 

If the taxpayers filed their income tax returns on the 31st of July 2023 and do not e-verify it by the 30th of August 2023, may attract consequences. Moreover, on the failure to e-verifying the tax returns, the verification date will be assumed as the ITR filing date. Therefore, make sure that you verify your tax returns after filing income tax returns before the due date to avoid the consequences and hefty penalties.

We have explained below the steps “How you can verify your returns”. Read them carefully and make sure you adhere to them properly. 

Steps for ITR Verification Using Aadhaar OTP:

• Go to the e-verify page and select I would like to verify option using a one-time password (OTP) sent to your registered mobile number
• Choose the option ‘I agree to validate my Aadhaar Details’ displayed on the page of Aadhaar OTP. and click ‘continue’
• In the next step, Click on the tab “Generate Aadhaar OTP” and click continue
• Then you will receive a 6-digit code to your registered mobile number. Enter the code in the given checkbox
• Lastly, click on “Continue”

After completing the above steps, a message will be displayed on the screen with your transaction ID details. You will get a confirmation message after the successful completion of the process.

E-verify the tax with Net-banking 

If you wish to e-verify the tax returns then the following are steps to follow which are mentioned below-

1. Firstly, Go to the website of https://www.e-verify.gov/ and select “Through net banking” from the e-verify page, and press ‘Continue’.
2. Then Choose the bank you want to e-verify through and click continue 
3. After this, a disclaimer will pop up on the screen, go through this disclaimer attentively and click on continue
4. Later you have to login into your net baking account with your password and user identity
5. Then a link will appear on the screen, click on the link and you will be taken to the page of the e-filing portal
6. After the successful completion of the login process, you will be referred to the e-filing dashboard
7. Now go to the section of ITR/Forms/Service, and continue to e-verify

After completing the successful process, a message will be displayed on the screen with your transaction ID details. You will get a confirmation message after the successful completion of the process.

Steps for ITR Verification Through Bank Account Number:

There are two ways of e-verifying the tax with the electronic verification code. One can be done with the use of a bank account and another is through the Demat account. Both are mentioned below with steps-

E-verify the tax with a bank account 

• Firstly, you have to go to the page of e-verify and choose “Through Bank Account” and click on the tab to continue
• You will be sent an EVC (electronic verification code) to your registered mobile number. 
• Enter the EVC code and click on continue
• At last, just click on the e-verify and here you are done

After completing these above, a confirmation message will appear on the display with your transaction ID and electronic verification code.

E-verify with a Demat bank account

• To e-verify the tax by using a Demat bank account, you will need to go to the page of e-verify and select there “Through Demat account” and click on the continue button.
• You will be sent an EVC (electronic verification code) to your registered mobile number. 
• Enter the EVC code and click on continue
• At last, just click on the e-verify and here you are done

After completing these above-mentioned steps, a confirmation message will appear on the display with your transaction ID and electronic verification code.

Also Read: The Consequences of Filing Belated Income Tax Returns: What is Belated Return and Due Date