One-time password (OTP) based e-filing verification system for taxpayers
Posted on: 14/Jul/2015 10:18:03 AM - No. of views : (1330)
To end the practice of sending paper acknowledgement, the income tax department yesterday launched its ambitious one-time password (OTP) based e-filing verification system for taxpayers. The facility can be accessed using Internet banking, Aadhaar number, ATM and email.
According to the rules notified in this regard by the Central Board of Direct Taxes (CBDT) today, any taxpayer, whose income is Rs 5 lakh or below per annum and has no refund claims, he or she can straightaway generate the "electronic verification code" for e-filing and validating their income tax return (ITR) through their registered mobile number and email ID with the department.
These new measures will completely eliminate the need of sending the paper acknowledgement, called ITR-V, through post to the I-T central processing centre.
In the other options given, those taxpayers who have Internet banking activated can do the e-verification of their ITR.
