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E-Verification of Tax Returns

 
The e-verification process introduced by the Income Tax Department this year completes the returns filing process in a jiffy.
 
The e-verification of returns, introduced this year by the income tax department makes tax-filing a seamless process.
 

Till last year, if you did not have a digital signature, you had to send a copy of the ITR V to the Central Processing Centre in Bengaluru. From this year, the tax department has introduced an alternate way of paperless e-filing via Electronic Verification Code (EVC). The electronic code generation process may vary, depending on the taxpayer's profile and the channel used for accessing the e-filing website.

 

After you have filed your returns, you have the option of e-verifying it. Filing and e-verfication can be done seamlessly and you can finish the whole process in one go. Despite this relative ease, most people do not seem to be opting for this route. According to the income tax department website, of the total 62.19 lakh returns filed so far, only 12.8 lakh taxpayers have availed of the e-verification facility. The method is not complicated and most of the taxpayers who e-file are techsavvy. So, there seems to be a lack of awareness among people about this option.

 

To help you navigate the process, here are all the details you need to know about electronic verification, how it works and the various ways in which you can generate the EVC.

 

Since you get a 120-day period, starting the day you file your returns, for verification, you may still have time left to go for e-verification of your return. After all, those post office queues can be pretty long.

 



Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

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