After filing your income tax return, the next step is to verify it. The Income Tax Department starts to process income tax return only after you verify it. Refunds, if any, would be processed only for those returns that are verified.
If you e-verify your ITR-V through net banking, then there is no need of sending the physical ITR-V to CPC, Bangalore. However, if you are not able to e-verify, then you must send the physical ITR-V. You can verify your ITR-V electronically by the following means:
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If you have opted to verify your tax returns by sending ITR-V to the Income Tax Department - CPC, Post Box No-1, Electronic City Post Office, Bengaluru- 560100, Karnataka, India, then you must follow the below steps to track the status of the receipt:
1. Log on to www.incometaxindiaefiling.gov.in
2. Click on 'Quick Links' tab and choose ITR Status.
3. A new pop up may appear on the computer screen. You must enter PAN, acknowledgement number of the ITR filed and captcha code.
4. Once you enter above details, the website would display the current status of ITR-V.
You must check the status of ITR-V, so as to make sure it has reached the CPC, Bangalore within 120 days from the date of uploading ITR on the e-filing website.
Once your ITR-V reaches the income tax department, they will notify by sending you an email or SMS, and would start processing the ITR filed. A letter would be sent intimating processing of your ITR.
If you still have not sent your ITR-V to the CPC, Bangalore, then you must ensure that you follow the below do’s and don’ts
1. The ITR-V must be sent either by ordinary post or speed post only.
2. Make sure that ITR-V is printed in black ink only. The ITR-V print must be neat and clear.
3. ITR-V must be sent to the CPC, Bangalore. ITR-V must be signed in original in blue ink.
4. All bar codes and numbers must be clearly visible.
5. There is no capping on the number of ITR-Vs that can be sent in a single envelope.
6. The printout of ITR V must be taken only on A4 size sheets.
7. Signature affixed on the ITR-V must match with your signature on the PAN Card.
1. ITR-V must not be sent through courier, if sent, then it would not be accepted by CPC.
2. ITR-V is a single page document. You must not write anything on the front or back of it.
3. When sending ITR-V, avoid folding the document and ensure that bar code is clearly printed.
4. If you are sending multiple ITR-Vs in a single envelope, regardless of original or revised, then make sure to print each ITR on separate pages.
5. You must not send any other document apart from ITR-V.
If you have not filed your income tax returns, then you must follow the below mentioned steps to do so:
STEP 1) Register
To e-file income tax return, you must register on the official website of the Income Tax Department (www.incometaxindiaefiling.gov.in). You must provide your permanent account number (PAN), name and date of birth and choose a password. Your PAN is your user ID.
STEP 2) Choose the way of e-filing
There are two ways in which you can e-file your income tax return. One way is to log on to the ‘download’ section and download the requisite form, fill all details offline and upload on the site. The second way is to fill the form online by choosing the quick e-file option.
STEP 3) Select the right form
ITR-1: For individuals earning income through salary, pension, or income from property or sources other than lottery.
ITR-2: This is for individuals earning capital gains. ITR 2A is for those owning more than one residential property, but with no capital gains.
ITR 3, 4 and 4S: For professionals and business owners.
STEP 4) Have the documents ready
Have PAN, Form 16, TDS certificates, statements of interest, investment details, insurance and home loan statements handy. You must download Form 26AS, which summarizes tax paid against PAN. You can validate tax return with Form 26AS and check your actual tax liability.
If you earn more than Rs 50 Lakhs, then from this year onwards, you must fill an additional column of assets and Liabilities, AL. You must disclose the value of your assets and liabilities.
STEP 5) Fill the form and upload
If you choose to fill the form offline, then after downloading and filling all relevant details, you must click on 'generate XML'. Then log on to the website and click on 'upload XML' button, upload the XML file saved on the PC and submit.
STEP 6) Verify ITR-V
After successfully submitting ITR form, an acknowledgement number would be generated. If the return is submitted through the digital signature, then you must save this number for future reference. If the return is submitted without digital signature, then an ITR-V would be generated and is sent on registered email ID or phone number.
The income tax return filing is incomplete if ITR-V is not completed. You have two modes of verifying i) You can electronically verify or ii) You can mail the signed ITR-V to the CPC in Bengaluru within 120 days of filing the income tax return.
Filing income tax is easy through e-filing. For e-filing of income tax, you must keep some important documents ready. The documents required are as follows:
The last date to file your income tax returns is 31st July 2019 for the assessment year 2019-20. Filing income tax return is not as tough as it may seem. To ensure taxpayers don’t miss this deadline, the income tax department offers the facility to file returns online by submitting ITR1 Form.
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