The income tax department reiterated Sunday that ITR filers should verify their returns as soon as possible in case they have not already done so. ITR must be verified within 30 days of submission. Failure to do so will result in your ITR being rejected. About 6.93 crore ITRs have been filed so far, of which 6.69 crore have already been verified.
The last date to submit ITR for AY2023-24 was July 31, 2023. Those who submitted their ITR before July 31 can verify without any penalty. However, if they fail to verify the ITR, it will be rejected and a new ITR must be submitted with a late fee of up to Rs 5,000.
“Dear taxpayers, remember to verify your ITR within 30 days of filing. Delayed verification may lead to the levying of late fees in accordance with the provisions of the Income-tax Act, 1961,” Income Tax India said in a post on X.
It said, “Don’t wait, verify your ITR today!”
Dear Taxpayers, Don’t forget to verify your ITR within 30 days of filing. Delayed verification may result in late fees being levied in accordance with the provisions of the Income Tax Act, 1961.
Don’t wait any longer and verify your ITR today! pic.twitter.com/zZhKlpKUBB
— Income Tax India (@IncomeTaxIndia) August 27, 2023
Once you have submitted your ITR, you must verify it within 30 days. This used to be 120 days, but in August 2022 this was changed to 30 days. If you submit your ITR today, the ITR must be verified within 30 days. Failure to do so will result in your ITR being rejected.
How to verify ITR
ITRs can be verified electronically here.
Methods to electronically verify your ITR:
Via Aadhaar OTP: The first method is e-verification via Aadhaar OTP. To use this method, log into your Income Tax e-filing account and navigate to the e-file tab. Select the Income Tax Return option and click E-Verify Return. Enter the Aadhaar OTP and click Continue to complete the process.
Via Net Banking: Another option is e-verification via Net Banking. Choose the option ‘via internet banking’ and select your bank. You will be redirected to the internet banking login page where you will need to enter your details. Once logged in, choose the option to verify your return and you will be redirected to the e-filing portal. Click verify on the appropriate ITR form to complete the process.
Via Demat account: If you have a Demat account, you can opt for e-verification via this account. A generated electronic verification code (EVC) will be sent to your mobile number and email address. On the e-verify page, select DeMat account and enter the EVC. Click the E-verify button to complete the process.
Via ATM: E-verification through the bank’s ATM is another method. Enter your debit card, enter your PIN and select the option to generate an EVC for income tax return. An EVC will be sent to your registered email address and phone number. Login to your e-filing account, select the option that the EVC is already there and verify it.
By bank account: Finally, if you have a pre-validated bank account for income tax returns, you can opt for e-verification through a bank account. An EVC will be generated and sent to your registered mobile number and email address. Click on the verification page, select the bank account option, enter the received EVC and click the ‘e-verify’ button to complete the process.
