For those who have paid income tax in haste on July 31, the last date for filing Income Tax Return and have opted to verify ITR later, August 30 is the day to verify ITR. It is the last day to do ITR Verification.
If you are a taxpayer, then tomorrow 30 August i.e. Rakshabandhan day is very special for you. In fact, for those who have hurriedly paid income tax on July 31, the last date for filing Income Tax Return, and have opted to verify ITR later, August 30 is the day to file ITR. It is the last day to verify (ITR Verification). If these people do not verify the ITR till August 30, then their ITR will become invalid.
It is necessary to verify ITR within 30 days
After filing ITR, it is very important to verify ITR. Some people verify ITR on the same day, while some people choose to verify it in the coming days. This is done due to network problem or lack of time or any other technical problem. Earlier, after filing ITR, income tax verification could be done within 120 days, but now only 30 days are given to verify ITR. In such a situation, the deadline for getting ITR verified is ending on 30 August. This change has come into effect from August 1 last year.
Income Tax Department is constantly alerting
The Income Tax Department has also started warning customers about this. A few days ago, the Income Tax Department had said in a tweet that within 30 days of filing ITR, it must be verified. If you delay, you may have to pay late fees under the Income Tax Act-1961. The Income Tax Department had urged not to delay, verify your return today itself. Keep in mind that if you do not verify the return of your ITR, then it will be considered invalid.
What will happen if the return is verified after 30 days?
If you get the income tax return verified after 30 days, then the Income Tax Department will consider the date of that verification as the date of filing your return. That is, in such a situation, you will have to pay the late fee in the same way that you have filed ITR late. If your taxable income is less than Rs 5 lakh, then you will have to pay a penalty of Rs 1000. On the other hand, if your taxable income is more than Rs 5 lakh, then you will have to pay a fine of Rs 5000.
What are the methods to e-verify ITR?
E-verification means online verification, and here we will tell you about online verification. You can e-verify your ITR in several ways.
- OTP on Aadhaar registered mobile number
- From EVC generated with your pre-validated bank account
- From EVC generated with your pre-validated demat account
- From EVC in ATM (offline method).
- Through NetBanking
- DSC stands for Digital Signature Certificate.
How to e-verify ITR?
Step 1- First of all go to the portal of e-filing and log in. On the home page, you will see the option of e-verify Return, click on it.
Step 2- On the e-verify return page, enter your PAN, choose assessment year and mobile number along with the acknowledgment number of ITR, then click on continue.
Step 3- Now enter the 6 digit mobile number received on your mobile number and submit it.
Step 4- But if you are filing ITR after 120/30 days of filing then click on OK.
Step 5- You have to enter condonation delay request here. And why the delay has happened, the reason has to be given, it can be selected from the dropdown menu.
Step 7- Now choose one of the above mentioned methods of e-verify and then e-verify.
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