Wednesday, September 18, 2019

How to verify Income Tax Return (ITR) via Aadhaar-based OTP?

The financial year in India begins on the 1st of April and ends on the 31st of March every year. The deadline for filing for tax returns in India is usually on the 31st of July. However, the government could choose to extend the date by a month or more. Once you’ve uploaded your Income Tax Returns on the e-filing website you are required to verify it. Only then can your tax returns be considered valid. You are given a maximum of 120 days to verify the IT returns.

No longer do you have to submit the ITR-V for verification with the Income Tax Department.
Instead, you can verify your IT returns online using an EVC (Electronic Verification Code) or through the e-verification of their Aadhar card. The Electronic Verification Code contains 10 digits. It is sent to your mobile number with which you’ve registered.

E-Verification Of ITR: What Are The Different Methods?

Income Tax Returns can be e-verified using the following methods.

  1. Aadhar e-KYC card
  2. Email ID/Mobile number
  3. AT cards of specific banks
  4. Details of Bank Account
  5. Net banking
  6. Demat Account

What Do You Mean By Aadhar Authentication?

Aadhaar authentication refers to the process where the demographic and biographic details of the e-KYC cardholder, along with the Aadhar number are submitted to the Central Identities Data Repository or CIDR for verification. This is to verify and confirm the details given in the Aadhar card.

Verification Of Income Tax Returns Using An Aadhar E-KYC Card 

Income Tax Returns can be e-verified using your Aadhaar card. However, the e-KYC card and the PAN Card need to be linked to do so.

How to Link Your Aadhaar Card and PAN Card?

Step 1: Log on to the Income Tax Department’s official website for e-filing.
Step 2: Log in to your account.
Step 3: Click on the blue tab “Profile Settings” that appears on the top bar.
Step 4: Click on the button “Link Aadhaar”.
Step 5: Enter your Aadhar number after checking the details of your PAN. The details on your Aadhaar card and PAN Card need to match.
Step 6: Click on “Save” button to save the details.

After validation, your PAN card and Aadhaar Card will be linked.

Steps To E-Verify IT Returns Using Aadhaar Based OTP

To e-verify your IT returns using your Aadhaar card you need to follow the following steps:

Step 1: Login to your account on Income Tax e-filing website.
Step 2: Upload your IT returns.
Step 3: You need to select one of the modes of verification of your IT returns from among the following choices;

  • Generate an Electronic Verification code so that my IT returns can be e-verified.
  • My IT returns need to be e-verified using my Electronic Verification Code.
  • My IT returns need to be e-verified using my Aadhaar Card (Generate OTP).
  • I wish to verify my IT Returns by sending the ITR-V form.
  • I prefer to e-verify my IT Returns later.

Step 4: Click on the generate OTP (To e-verify using your Aadhaar e-KYC). You’ll receive an OTP on the mobile phone number linked to your Aadhaar card.
Step 5: Type in the OTP you’ve received and click on the "Submit" button.

Once you get the message that says that your IT returns have been e-verified successfully the acknowledgment can be downloaded. You'll also receive this acknowledgment on the email ID that is registered with your account. This means your IT returns have been e-verified successfully.

For more information contact us.
We, Finahub, are experts in Aadhaar related products and services like eSign, eKYC, Authentication, etc. If you want to know how your enterprise can start using it, please give us a call  @ 0484 2388285 or email us at [email protected]