What is e-verify of Income Tax Return?
The electronic verification of the income tax return filed through EVC (electronic verification code), aadhaar-based OTP, through net banking, or authorized bank ATM, etc, is known as e-verification of ITR. The copy of acknowledgment (ITR V) is not required to be sent by post to Bengaluru in this case. To read more about e-verification click here. https://tax2win.in/guide/e-verify-income-tax-return
Benefits of e-Verify
The benefits of e-verification of Income Tax are:
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It is a convenient and instant way to verify your Income Tax Returns and other requests or services online. You do not need to send a physical copy of the ITR verification to CPC, Bangalore.
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It saves time and resources as you can e-Verify your returns using various methods such as Aadhaar OTP, Net Banking, EVC through bank account, demat account or ATM, or Digital Signature Certificate (DSC).
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It ensures the validity and completeness of your return filing process. Without verification within the stipulated time, an ITR is treated as invalid and may attract penalties or interest.
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It helps in data correction and cleaning by allowing you to provide feedback or explanations for any mismatch or discrepancy in the financial transactions reported by the sources or reporting entities. You can also file a condonation request if you miss the verification deadline due to genuine reasons.