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ITR V: Importance, Attributes, Branches, Features, and Verification Methods

Updated: Nov 30, 2023

Welcome to our informative blog! Today, we delve into the realm of income tax filing, shedding light on the acronym ITR-V, which represents the "Income Tax Return Verification" Form. This concise one-page document plays a crucial role in online tax return filing, specifically when a digital signature is not used.


The esteemed Income Tax Department provides the ITR-V to verify the authenticity of tax returns, conveniently delivering them to taxpayers via email.


Additionally, taxpayers have the option to download a copy of the ITR-V from the official income tax e-filing website. To complete the income tax filing process, it is essential to sign the ITR-V acknowledgment with a pen filled with blue ink and submit it to the designated Income Tax Department CPC.


In this article, we will guide you through the step-by-step procedure for generating and submitting the ITR-V form, ensuring a smooth and compliant income tax filing experience.


Follow these steps to get ITR V form, which is a crucial component of the income tax filing process.

  1. Begin by logging in to the e-filing portal using your unique credentials.

  2. Once logged in, navigate to the designated section for e-filing.

  3. Locate and select the option to view your income tax returns.

  4. Click on the specific option that allows you to view the filed returns.

  5. In this section, you will find the option to download the ITR verification form for the relevant Assessment Year.

ITR-V Acknowledgement plays a crucial role in the income tax return filing process.


Here are the guidelines for a smooth and successful submission of the ITR V to the Centralized Processing Center (CPC):

  1. Print the ITR-V form using dark ink to ensure legibility.

  2. Sign the ITR-V form with an original signature using a pen filled with blue ink.

  3. Avoid placing the signature on the barcode section of the form, ensuring clear visibility of the barcode and the numbers beneath it.

  4. Refrain from using a stapler to attach the ITR-V form.

  5. Take care not to fold the signed ITR-V form.

  6. Enclose the ITR-V form in a white envelope of A-4 size.

  7. Send the ITR-V form to the designated CPC address via speed post or ordinary post within 120 days from the date of filing.

By following these procedures, you can ensure the accurate and timely verification of your income tax return


1) ITR Verification via Aadhaar-based OTP:


To verify your ITR using Aadhaar-based OTP, select the option "I wish to verify using OTP on the mobile number registered with Aadhaar" and continue by clicking "Continue" on the "e-Verify" page. This step entails agreeing to validate your Aadhaar details by checking the box and clicking "Create Aadhaar OTP." Soon, you'll receive a 6-digit OTP on your registered mobile number, which will serve as a key to complete the verification process.


2) ITR Verification via Net Banking:


To verify your ITR through net banking, choose the option "Via Net Banking" and proceed by clicking "Continue" on the "e-Verify" page. This step involves selecting the bank where you want to validate your ITR and clicking the "Continue" button.


A disclaimer pop-up will appear, providing important information that you should read before clicking "Continue." Once done, you'll be prompted to log into your net banking account, where you can find the e-verify option usually located under the 'Tax' page.


This will redirect you to the income tax department's e-filing website. Follow the instructions to select the appropriate ITR form and proceed with the e-verification process, ensuring a successful verification of your tax return.


3) ITR V via Bank Account:


If you prefer to verify your ITR using your bank account, select the option "Via Bank Account" and continue by clicking "Continue" on the e-verify screen. This method requires the generation of an Electronic Verification Code (EVC) through your bank account.

To proceed, ensure that your bank account is pre-validated for income tax purposes. Once selected, an EVC will get generated and sent across to the mobile number and email address associated with your EVC-enabled bank account. Post which, all you will need to do is enter the received EVC on your registered mobile number and email address, and click "e-verify" to conclude the verification process effortlessly.


4) ITR Verification via Demat Account:


For those who hold a Demat account, verifying your ITR is a similar process to the bank account verification method. Choose the option "Via Demat Account" and click "Continue" on the e-verify screen. Just like with the bank account verification, an EVC will be generated and sent to the mobile number and email address linked to your EVC-enabled Demat account. Input the received EVC on your registered mobile number and email address, and click "e-verify" to successfully verify your ITR.


5) ITR Verification via Bank ATM:


Certain banks offer the convenience of generating an EVC using their ATM cards. If your bank provides this service, you can follow this method to verify your ITR. Simply visit your bank's ATM, insert your ATM card, enter your PIN, and select the option to "Create EVC for Income Tax Filing." The ATM will generate an EVC, which will be delivered to your registered mobile number and email address associated with the e-filing portal. It's important to note that your PAN must be registered with the bank for this method to work. After receiving the EVC, proceed to the "e-verify returns" section on the income tax portal, select the option "I already have an Electronic Verification Code" (EVC), input the received code, and click the e-verify button to complete the verification process.


6) Offline ITR-V Submission to CPC in Bangalore:


In case you prefer offline verification, you can submit your ITR-V form to the CPC in Bangalore. Start by printing a copy of the ITR-V form received via email or downloaded from the income tax portal. Sign the printed ITR-V form using a dark ink pen, ensuring that it is done correctly. Keep the signed form in an A4 envelope, making sure each envelope contains only one ITR-V form. Remember, there's no need to include any additional documents besides the signed ITR-V. Finally, send the envelope via regular mail (courier services are not accepted) to the CPC in Bangalore within 30 days from the date of e-filing.


FAQs:


Q1 What are the necessary steps and deadlines involved in completing the ITR-V for electronically filed income tax returns without a digital signature?

Completing the ITR-V is an integral part of the income tax filing process when submitting returns electronically without a digital signature. Upon filing your returns, you will receive the ITR-V from the Income Tax Department, which necessitates your attention and action.

To proceed, it is crucial to diligently sign the ITR-V form using clear and legible handwriting. Your signature serves as a vital validation of the authenticity of your tax returns.


Following the signing of the ITR-V, the subsequent step entails sending the document to the Central Processing Centre (CPC) located in Bangalore. Timeliness plays a pivotal role here, as it is imperative that the signed ITR-V reaches the CPC within the designated deadline. Specifically, the ITR-V must be dispatched and received by the CPC within 120 days from the date of filing your income tax returns. Failure to adhere to this timeframe may result in the invalidation of your tax filing.


Q2 Is it permissible to submit multiple ITR-V forms for income tax returns?

Indeed, it is entirely permissible to send multiple ITR-V forms in certain circumstances. This provision comes into play when an individual undergoes a significant change in their employment status within the financial year, resulting in the possession of multiple Form-16 documents from different employers. Each Form-16 corresponds to a distinct income source, requiring the filing of separate income tax returns. As a result, multiple ITR-V forms can get submitted to validate and authenticate each individual tax return with accuracy and compliance. Rest assured, this process adheres to the guidelines set by the Income Tax Department, ensuring the proper reporting and assessment of all applicable incomes.


Q3 What is the deadline or time limit for submitting the ITR V?

The Income Tax Department has stipulated a specific timeframe within which it is necessary to send the ITR-V form. As per the official guidelines, you have a maximum of 120 days from the date of filing your income tax returns online to dispatch the ITR-V document to the designated authorities.


This designated time frame ensures that the verification process is promptly carried out following the initial filing. However, it is important to note that the Income Tax Department retains the authority to grant extensions to the deadline in certain circumstances, depending on applicable regulations and specific situations.


Therefore, it is advisable to remain vigilant and stay updated with any official announcements or notifications concerning possible deadline extensions to ensure full compliance with the established timelines.