E-Verification under Income tax

E-verification is the process which confirms that the taxpayer has ob its own filed the return and further that he/she/it is fully aware of the facts disclosed in the return unless the return is filed by a TRP it is the assessee’s responsibility of the consequences of filing of return.This is similar to the fact that unless any document is signed by the declarant it has no evidentiary value.E-Verification also is the proof that the department has accepted the return for processing subject to any discrepancy noticed afterwards which may treat the return as defective.For defective return please refer to our earlier post on the subject.

Now Income tax has following methods of validation of returns:

  1. DSC ie Digital Signature Certificate: In this method nothing else is required after filing of return as the return itself is digitally verified.
  2. Aadhaar Verification: In this method as soon as the return is filed an OTP is sent to the registered mobile no of the assessee which has to be entered into the portal .As soon as the OTP is entered the return is validated.The time limit for expiry of OTP is 10m minutes after which fresh OTP has to be generated.So for the assessee who need to get the return verified by Aadhaar should get their valid mobile numbers in their AAdhaar. For linking the mobile no with AAdhaar see our relevant post.
  3. Demat Account verification:This is a lesser known and used form of verification as not every assessee might be having demat account.But if you have one you can everify your return by providing the demat account number wherein an OTP is sent  to the registered mobile no. which when entered into the portal the return is verified
  4. Bank Account verification:In this form of verification you can everify your return by providing the bank account number registered under your name wherein an OTP is sent  to the registered mobile no. which when entered into the portal the return is verified

In all the cases of everification the most important thing is that you must have a valid mobile no which should be linked to the device used for verification(Aadhaar, Demat account,Bank Account)

Why is E-Verification Important: The process of filing of return is incomplete without everification since any declaration filed or document submitted is incomplete unless signed by the declarant/filer.Now since the return is filed online hence it is important that an express consent is obtained from the declarant’s/filer’s end is obtained that the return has been filed and originated from it’s end .E-verification does the same.Moreover it is in the taxpayer’s interest that he/she/it must have knowledge that the return has been filed when and by whom(in those cases when the return is being filed by his tax consultant) so it is in their interest also.

Consequenses of Non-Everification:

Unless the return is everified the return will not be deemed to have been filed and after the expiry of 120 days which is generally the time period allowed ,the return will be deemed invalid and will be removed from the portal and hence will attract all consequences of non filing

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