In India, there are three key processes that must all take place simultaneously for an income tax filing to be completed. You must submit your tax returns as part of the first stage. The following step requires you to verify the return you have submitted once again. Finally, your tax return is reviewed by the Income-tax Department.
There is just one more thing to perform before you may unwind after completing your tax return submission. A tax return must be reviewed in accordance with the law in order for the income tax department to consider processing it.
So, you might have filed your tax returns but failing to verify them would also result in your tax return is not processed. And it is this step that is popularly known as ITR-V verification.
Note: As per notification no. 05 of 2022, the time limit for verifying Income Tax Returns (ITRs) has been reduced from 120 days to 30 days after transmitting the information electronically. For more details please click here.
What is ITR-V?
ITR-V stands for Income Tax Return – Verification. It is a single-page form that confirms that you as a taxpayer have filed for your returns. The ITR-V form is sent to the registered email address of a taxpayer and they must verify the document at the earliest.
There are different ways by which you can complete the ITR-V Submission to CPC or the centralized processing centre in Bengaluru. One of the most popular methods of verifying your tax return is via taking a printout of the ITR-V form and sending it across to the CPC once you have signed it. The details to which you can find below.
However, there are some other ways of verifying your tax returns as well.
You can verify your tax return with the help of your Aadhar number. For this, ensure that your current mobile number is registered with Aadhar and that the UIDAI database has the same number. When you select this mode, an SMS with an OTP or one-time password is sent to your registered mobile number. On entering the OTP correctly, your ITR will be verified.
If your current mobile number is not properly updated with the Aadhar card, you can opt to verify your returns using your net banking or bank account as well. Most of the leading banks offer a facility to generate EVC either through their net banking or other banking services.
Alternatively, you can verify your tax returns via your Demat account or even ATM. Though the most preferred mode is the one mentioned below. If you want to know the ITR-V Sending Address, you don’t have to look any further. The same is mentioned at the bottom of your ITR-V form. Once you have downloaded the ITR-V (Acknowledgement) received from the Income-tax Department follow the below-mentioned steps to complete your e-filing process.
You can also e-verify the ITR-V instead of signing it and posting it.
Steps for sending ITR-V:
- Print the ITR-V.
- Sign the ITR-V.
- Post the ITR-V to Centralized Processing Center, Income Tax Department, Bengaluru 560500.
- The ITR-V should be printed through a Jet/Laser printer & not from a Dot Matrix printer.
- The ITR-V should be printed on A4-size paper.
- The print should be clear and in black ink only.
- The signature is done by the return filer only and should be in BLUE ink only.
- Nothing is written by the return filer on ITR-V except for the signature, not even in the TRP section or anywhere else.
- The ITR-V is an original signed copy and not a photocopy or scanned copy.
- No other document is stapled/attached along with the ITR-V.
- The paper should not be perforated or folded at all.
- Nothing is printed on the back of the ITR-V.
- The ITR-V is to be sent in an A4-size envelope.
- The ITR-V is to be sent via Normal Post or Speed Post only.
You can either send the form via normal post or speed post if the deadline is getting closer. And lastly, you do not have to submit any supporting documents with your tax return verification. Thus, the Centralized Processing Centre does not expect any other document along with your tax return.
After you post your ITR-V acknowledgement, the processing begins. And depending on the return filed, the income tax department issues various ITR-V Receipt Status. You must keep an eye on the receipt status to know if your return processing went on smoothly or had hit some roadblock. If it did hit some roadblock, the income tax department will provide you with ample time and information to take corrective measures for the same.
- Do I need to verify my return?
Yes. It is mandatory for taxpayers to verify their income tax returns. Unless the returns are verified, the income tax department won’t begin processing your return.
- Should I opt for e-verification or print the verification and send it?
You can choose either of the methods. It comes down to personal preference. However, it is important to note that e-verification might lead to quicker processing of tax returns.
- Do I have to resend my ITR-V?
Should there be a situation where you have posted the ITR-V but the CPC has not received the same and has sent you a notice, you can resend the ITR-V along with any proof that you had sent earlier.