More about e-filing your IT returns
Posted on: 07/Sep/2015 10:49:13 AM
Tax assessees can now get verification of their returns online from this year. This e-verification has proven to be most convenient. Till now, if you did not have a digital signature, you needed to send a copy of your returns to the Central processing Centre in Bengaluru. However, the IT department has introduced the Electronic Verification Code (EVC) from this year. With this, you can file your returns online. EVCs differ on the taxpayer`s profile and the channel used for accessing the website to file your returns.
Once filed, you may e-verify the returns. However, many people have opted for the traditional route. Data shows that a total of 62.19 lakh returns have been filed so far. Out of this, only 12.8 lakh assessees have opted for the e-verification facility. An expert says, The method is not complicated and most of the taxpayers who e-file are tech-savvy. So, there seems to be a lack of awareness among people about this option.
So how do you go about the process?
First remember that the EVC is a 10 digit alpha numeric code which is generated to verify your returns online. Each Permanent Account Number (PAN) has a unique code. The code can be generated using Aadhaar card, net banking, registered email ID and mobile number. The EVC received via net banking and email or mobile phone is valid for 72 hours, whereas the EVC received via Aadhaar is valid for 10 minutes. One EVC is valid for only one transaction. Here is how to generate an EVC.
Via Email and Mobile Phone:
Log on to www.incometaxindiaefiling.gov.in to generate your EVC. You may opt for this method if the total income before dedcutions in Rs. 5 lakh or less and there is no refund claim. Once you log in, opt for e-filing and request for the code by choosing the `generate EVC` option. You will asked to choose between e-filing OTP or EVC through Net banking. Choose the first option. Now, an OTP (One Time Password) will be sent to your mobile number or email ID. Type in the OTP under the e-verify option and complete your returns.
Net Banking:
You may opt for this option if your total income is more than Rs. 5 lakhs or if you have a refund. For this option, your PAN should be validated in your bank`s KYC process. You will be directed to a page which will have a list of banks available for this option. Most banks, both public and private are in the list. The list includes banks such as SBI, ICICI, HDFC, Axis Bank, Bank of Baroda, Allahabad Bank, among others. Log in using your banking ID and password. The EVC will then be sent to your mobile number.
ATMs:
A few banks have been registered for generating EVCs through their ATMs. You can use your debit or credit card to regenerate the code. But there is still work to be done with this option. Experts recommend the net banking option instead.
Aadhaar Number:
You may use this option as long as your Aadhaar card and PAN are linked. If they are not linked, you may fill in your Aadhaar number on a pop up that will show up on the IT department`s website. You will then be redirected to a page that w will link the two. Now an OTP will be sent to your mobile number. This OTP will be valid for 10 minutes.
