Online filing of Income Tax Return is paperless only if the person has a digital signature. Taxpayers who did not have a digital signature had to post a physical copy of the ITR V form to the Central Processing Centre (CPC) in Bengaluru, within 120 days of filing tax returns online.
Some tax-payers assume that filing of taxes is done once their Tax return is e-filed. But, as per Income Tax department, the filing of tax return is not complete unless the ITR-V reaches them on time. So, you need to validate your ITR by signing the printed copy of your ITR V and then have to mail it to CPC.
The Central Board of Direct Taxes (CBDT) has recently notified the Income Tax Returns (ITR) for financial year 2014-15 (Assessment Year 2015-16).
In a welcome move, CBDT announced that a taxpayer, who furnishes his/her Aadhar Id number while e-filing Income Tax Return (ITR), is exempted from submitting the physical copy of ITR V form. So, sending of paper acknowledgment by post is not required.
New ITR forms will link to Aadhar card and do away with the physical ITR-5 for those who are Aadhar-verified by the Electronic Verification Certification (EVC) system.
In my last post “ITR forms for AY 2015-16”, I have highlighted some important changes in new ITR forms. All the new ITR forms (ITR-1, ITR-2 & ITR-4S) will now have an option to furnish your Aadhar card number (as below).
New process of validating your e-filing through Aadhar card – ITR V is not required
Instead of manual verification, a new Electronic Verification Code (EVC) will be introduced to verify your e-returns. For that one will have to mention their Aadhar card number in ITR form. The new process of validation / verification works as below;
- While filing your tax return online, you need to register your Aadhar card number in ITR.
- The Income Tax Department’s system will then check with UIDAI’s (Unique Identification Authority of India) database.
- The UIDAI’s system will send OTP (One Time Password) to your registered mobile number.
- You then need to enter this OTP on Income Tax Department’s e-filing website.
Do note that the above feature is an optional one. If you want to send the physical copy of ITR V form, you may do so.
As of now, this feature is still not available on e-filing website. This facility will be made available within the next few days. This is not only beneficial to the tax-payers but also to the IT department. The Income Tax refund process may also get faster and smoother.
Latest update: The Income Department has issued a notification regarding the usage of Electronic Verification Code to e-verify Income Tax Return on 13th July, 2013. Kindly read my post on “Electronic Verification Code & ITR 2015-16” to understand the different options of generation of EVC code, how to link Aadhar card number with PAN and How to do electronic verification of your Income Tax Return (e-verify)?
I believe that Aadhar card is slowly becoming a ‘must have’ document. Do you have Aadhar card? If you do not have, its high time that you enroll for it. What is your opinion on this new e-verification process? Share your views.
( Image courtesy of Stuart Miles at FreeDigitalPhotos.net)