Income Tax Return: Verify Your ITR Soon To Avoid Last Fee Up To Rs 5,000

The income tax department on Sunday reiterated that ITR filers need to verify their returns as soon as possible in case they have not done so yet. ITR is required to be verified within 30 days of filing it, failing which will lead to the rejection of your ITR. So far, about 6.93 crore ITRs have been filed, out of which 6.69 crore have already been verified.

The last date to file ITR for AY2023-24 was July 31, 2023. Those who filed their ITR before July 31 can verify it without any fine. However, if they fail to verify the ITR, it will be rejected and a fresh ITR will need to be filed with a late fee of up to Rs 5,000.

“Dear Taxpayers, Do remember to verify your ITR within 30 days of filing. Delayed verification may lead to levy of late fee in accordance with provisions of the Income-tax Act, 1961,” Income Tax India said in a post on X.

It said, “Don’t delay, verify your ITR today!”

If you have filed your ITR, you have to verify it within 30 days. Earlier, it used to be 120 days, which was changed to 30 days in August 2022. If you file your ITR today, the ITR needs to be verified within 30 days, failing which will reject your ITR.

How To Verify ITR

ITRs can be e-verified here.

Methods To E-Verify Your ITR:

Through Aadhaar OTP: The first method is e-verification through Aadhaar OTP. To use this method, log in to your Income Tax e-filing account and navigate to the e-file tab. Select the option for Income Tax Return and click on E-Verify Return. Enter the Aadhaar OTP and click on Continue to complete the process.

Through Net Banking: Another option is e-verification through Net Banking. Choose the “through net banking” option and select your bank. You will be redirected to the net banking login page where you need to enter your credentials. Once logged in, choose the option to verify your return and you will be directed to the e-filing portal. Click on verify on the respective ITR form to complete the process.

Through Demat Account: If you have a Demat account, you can opt for e-verification through it. A generated Electronic Verification Code (EVC) will be sent to your mobile number and email ID. On the e-verify page, select DeMat Account and enter the EVC. Click on the e-verify button to complete the process.

Through ATM: E-verification through the bank ATM is another method. Insert your ATM card, enter your ATM pin, and select the option to generate an EVC for Income Tax Filing. An EVC will be sent to your registered email and phone number. Log in to your e-filing account, select the option that the EVC is already there, and verify it.

Through Bank Account: Finally, if you have a pre-validated bank account for income tax refunds, you can choose e-verification through a bank account. An EVC will be generated and sent to your registered mobile number and email ID. Click on the verify page, select the bank account option, enter the EVC received, and click on the “e-verify” button to complete the process.