Skip to main content

Use Electronic Verification Code (EVC) Instead of ITR-V Sign for Income Tax Return e-filing

 

Electronic Verification Code (EVC) to e-verify Income Tax Returns

Government is trying hard to go green but the necessity of sending signed ITR-V form to Bangalore was becoming an obstacle to make e-filing process completely paperless. Digital Signature has already been mandated for the companies to file and verify their returns but individuals were given an option to sign the physical copy of ITR-V and send it to CPC, Bangalore.

 

Government has come out with the Electronic Verification Code for verifying the income tax return to get rid of this last piece of paper and make the e-filing process completely paperless. Now, you just have to put an EVC after filing your return and you are done with e-filing, no need to send signed ITR-V to CPC, Bangalore within 120 days' time frame.

What is Electronic Verification Code (EVC)?

Electronic Verification Code (EVC) is a 10 digits alpha numeric code to verify your income tax return and can be generated via various methods. Let's see the features and usage of Electronic Verification code to e-verify your income tax return.

  • EVC is a 10 digit alpha numeric code which would verify the identity of the person filing the income tax return.
  • The EVC could be used to verify ITR 1 (Sahaj) / ITR 2 / ITR 2A / ITR 3 / ITR 4 /ITR 4S (Sugam).
  • EVC would be unique and can be used only with the PAN of the person furnishing the income tax return. This means one EVC for one PAN.
  • One EVC can be used to validate only one ITR whether it is original or revised return.
  • The EVC remains valid for 72 hours but can be generated various times through various modes.
  • In case the tax returns are already filed or uploaded, the verification needs to be done within 120 days of filing of return.

Important Note:

1. If the Taxpayers Total Income is greater than 5 lakhs or if there is refund, Taxpayers are provided with only one option "EVC – Through Net Banking"

2. "EVC – to Registered Email Id and Mobile Number" option would be available for taxpayer whose Total income is Less than 5 Lakhs and there is no Refund.

How to Generate Electronic Verification Code (EVC)?

CBDT has notified four methods to generate Electronic Verification Code (EVC). Before proceeding to generate EVC please ensure that the mobile number and email address registered with the CBDT is accessible by you.

1. Generate EVC through e-filing website

I consider this as the simplest method because you just need to click few buttons and you will get EVC on your mobile and registered email.

But this method is only available if your salary income is up to Rs.5 lacs and you are not claiming any tax refunds.

  • Simply login to your account with PAN number as user id and your password.
  • Click on the e-file tab and select Generate EVC as shown in the image below:
  • You would then receive EVC on your registered mobile number as well on your registered email address.

Generate-EVC-on-efiling-website

  • Put the code in the box on the screen and the process of e-filing gets completed.

2. Generate EVC through Linking Aadhaar Card with PAN

Before generating EVC through Aadhaar Card, make sure that your mobile number should be registered with your aadhaar. (I faced this problem generating EVC).

 
How to link your aadhaar with PAN?

After login, you would see "Profile Settings" Tab besides downloads. Click on it and a drop-down menu would appear, select Link Aadhaar with PAN.

You would then be presented with the image as shown below:

Link-Aadhar-with-PAN

Fill in the required details and click on Link Now to complete the process.

Next Step would be to generate EVC and for that you have to select "I would like to generate Aadhaar OTP to e-Verify my return" at the time of e-verifying your tax return.

3. Generate EVC through Bank ATM (Automatic Teller Machine)

For this option you have to use the ATM card of the bank which is registered with the IT department. You can generate EVC by selecting "generate EVC for ITR filing" appears on the ATM Screen. The EVC would be sent to your registered mobile number with Bank.

4. Generate EVC through Net Banking Facility

Generating EVC using Net Banking requires you to route your process of e-filing through the bank which is registered with IT Department. You would have to login into your net banking account and seek the redirection to income tax e-filing website where you can generate EVC. The EVC would be sent to your registered mobile number with Bank.

This option requires a valid PAN to be linked with your Bank account as per KYC norms and ITR should be for same PAN number.

Update: The banks which provide EVC Generation facility as of now are – Allahabad Bank, Andhra Bank, Axis Bank Ltd, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank Ltd, Corporation Bank-Corporate Banking, Corporation Bank-Retail Banking, Dena Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, Indian Overseas Rank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, State Bank of India, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India and Vijaya Bank

How to use Electronic Verification Code (EVC) to verify Income Tax Return?

Electronic Verification Code (EVC) for e-verification process of Income Tax Return can be used while:

  1. Uploading of Return using Net Banking
  2. Uploading of Return without using Net Banking
  3. For already Uploaded Return

1. In case you are Uploading Tax Return without using Net Banking than as soon as you are finished with uploading of return, a screen having following options would popup:

  • Option-1 – "I already have an EVC and I would like to Submit EVC"
  • Option-2 – "I do not have an EVC and I would like to generate an EVC"
  • Option-3 – "I would like to generate Aadhaar OTP to e-Verify my return"
  • Option-4 – "I would like to e-Verify later! I would like to send ITR-V"

You can use any one of the above options (1 to 3) to e-verify your Income Tax Return and download the Acknowledgement (No Further action required).

Option 1 requires you to put the EVC you have already generated and then download the Acknowledgement (No Further action required).

Option 2 requires you to generate EVC either through AMT or E-filing website.

Option 3 would use generating EVC through Aadhaar Card (As described above).

Option 4 would means you don't want to use the new method of EVC and would like to go with the old method of ITR-V signing and sending it to CPC Bangalore.

2. In case you have routed to e-filing website through net banking account then after you finish uploading tax return three options would be shown on your screen:

  • Option-1 – "I would like to e-Verify my return now"
  • Option-2 – "I would like to generate Aadhaar OTP to e-Verify my return"
  • Option-3 – "I would like to e-Verify later! I would like to send ITR-V"

You can use any one of the above options (1 and 2) to e-verify your Income Tax Return and download the Acknowledgement (No Further action required).

Option 1 would simply need you to confirm the verification of ITR by clicking on "Continue" button. Download the Acknowledgement (No further action is required).

Option 2 remains same as in above case and ECV would be sent to your registered mobile number.

Option 3 would be old method of ITR-V signing.

3. Verification of Already Uploaded Returns requires you to verify them within 120 days of submission or uploading by following below mentioned steps:

  • Login to your income tax e-filing website.
  • Click on e-file button and select e-verify in the drop-down menu.

everify-income-tax-return

  • List of all the ITRs which are pending for e-verification will be displayed.
  • Click on the e-verify link as shown in the image

everify-ITR

  • You would be directed to the screen with three options to e-verify your tax return.

Options-for-EVC-and-everfication-of-Income-tax-returns

  • Select any of the options to complete the e-verification process of Income Tax Return.

EVC-verified-ITR-verified

 

Update: Vide Notification no. F.No. 2251141/2015/ITA.II dated 20th July, 2015 CBDT has allowed validation of previous years tax return through EVC. Here previous year refers to the belated tax returns pertaining to Assessment Year 2013-14 and 2014-15 filed without digital signature. The time limit of submission of ITR-V for both the above mentioned assessment years has already been extended to 31st October, 2015 and the same time limit applies to validation through Electronic Verification Code (EVC).

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

Invest in Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...

Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund Tata Mutual Fund has decided to merge Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund, with effect from January 16, 2015.   Investors of Tata Indo-Global Infrastructure Fund can redeem/ switch out units from December 13, 2014 to January 12, 2015 without paying any exit load. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call Leave a missed Call on 94 8300 8300 Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund A...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now