- What is an ITR-V?
Ans. ITR-V stands for Income Tax Return- Verification form. This form is received when you e-file your income tax return. Income-tax Department verifies your submission and in return gives the ITR-V as acknowledgement of filing. After receiving it, you have to print the same and send the signed copy of ITR-V to CPC,Bangalore on address mentioned in ITR V.
- Is it mandatory to send ITR-V to CPC, Bangalore?
Ans. Yes, ITR-V should be sent to CPC within 120 days of filing your Income-tax return. Otherwise, return filing process is not complete and it will be considered that you have not filed your return at all. It should be noted that ITR-V should not be folded and it should be send via ordinary or speed post only and not by private courier. Sending ITR-V physically is only for those assessees who have not signed through digital signature or those who have not opted for any of the EVC(Electronic verification code) methods for ITR-V verification. The assessees who have signed through digital signature or who have opted for EVC method are not required to send their ITR-V to CPC.
- What are the options available if I don’t want to physically send ITR-V to CPC, Bangalore?
Ans. Taxpayers can now file their income tax returns without sending signed acknowledgement to CPC,Bangalore using EVC. i.e. Electronic Verification Code. EVC means a code which is generated for the purpose of electronic verification of the person furnishing the return of income. EVC will be a unique number linked to assessees PAN. It cannot be used for filing return of income of any other PAN. One EVC can be used to validate one return, irrespective, of assessment year or type of return. Taxpayers can generate EVC by any of the four methods ,viz,Through Net-Banking, through Adhaar number ,through ATM or through e-filing website of income tax department. Details procedure for the same is as follows:
- Electronic Verification code through Net-Banking– In this case, some specified banks registered with Income-tax Department provide direct access to the e-filing website to their accounts holders.By clicking on e-filling option, account holder will be redirected to the e-filing website where he can generate the EVC .EVC generated will be sent to the registered e-mail id and mobile number of taxpayer, which can be used to verify income-tax return.
- Through Aadhaar Number :-Taxpayer can link their Aadhaar Number with their PAN on e-filing website to generate the EVC. Once the Aadhaar Number is linked to PAN, one time password (OTP) will be generated and sent to the taxpayers registered mobile number .
- Through ATM:-All taxpayers can generate EVC through ATM only if ATM card of taxpayer is linked to PAN validated bank account and bank is also registered with the income-tax department. Taxpayer can access ATM of registered bank using his Debit/Credit card. The bank will communicate the request to e-filing website which will generate EVC and send the EVC to assessee on his registered mobile number.
- Through E-filing Website of Income-tax Department – Assessee can also generate EVC by using e-filing website of Income-tax Dept. (i.e. www.incometaxindiaefiling.gov.in).
However this facility is available only to the assessees having total income of Rs. 5 lacs or below and who are not claiming income tax refund.
- What if,I do not submit ITR-V within 120 days ?
Ans. If you miss submitting your ITR-V within 120 days(or extended Due Date as notified by Income-tax Department), your e-filing will be considered as invalid. It means that it will be considered that you have not yet filed your return. In such case, you need to file a revised return and submit fresh signed ITR-V to CPC, Bangalore.
- How to check whether CPC has received your ITR-V?
Ans.One can check status of ITR-V receipt by CPC Bangalore online at www.incometaxindiaefiling.gov.in. On left side, under Services, this is sixth option for ITR-V Receipt Status.
- What to do if your ITR-V is rejected?
Ans.When the ITR-V receipt status shows ITR-V Rejected,click on the acknowledgement number and you will be able to see the reason for rejection. If you see a message that says “Filing date has exceeded the due date”, that means you haven’t signed and sent your ITR-V acknowledgement to CPC-Bangalore within 120 days of e-Filing.
Your ITR V may be rejected for other reasons like ITR V was not signed, ITR V was folded, stapled etc. You should see the reason why your ITR-V was rejected, correct the same and resend your ITR-V.