Importance Of Receiving ITR-V Acknowledgement

Most of us file our income-tax (I-T) returns online™ before the July 31 deadline. Electronic filing (e-filing) is convenient and you can even pay your taxes online. However, filing your returns online does not mean that the process of filing returns is complete. If you have added your digital signature™ while e-filing, then your return filing process is complete. You will receive the acknowledgement by the I-T department through email.

But if you have filed your return online without adding a digital signature™, then the process of e-filing is not complete. Your e-filing will only be complete after the central processing centre (CPC) of the I-T department sends an email or SMS acknowledging the receipt of the Form ITR-V.

What does ITR-V mean?

ITR-V stands for Income Tax Return“Verification™ Form. It is a one page document. ITR-V is received when you file your I-T return online”without using a digital signature. It is sent by the I-T Department. The I-T Department needs to verify the authenticity of your e-filing which does not have a digital signature. On receipt of Form ITR-V, you have to sign the copy of the Form in blue ink™ and submit it to the I-T Department CPC, Bangalore to complete the filing process.

ITR-V significance

To complete the e-filing process (without digital signature), you need to follow the below mentioned steps.

ITR-V should be printed in dark blank ink and clear to read. ITR-V should have original signature in blue ink. Your signature should not be on bar code of the Form. Bar code and numbers below the bar code should be clearly seen. Do not use stapler on the Form ITR-V. Do not fold this signed ITR-V. Enclose the same in an A-4 size white envelope. Send the envelope to the CPC through speed post or ordinary post within 120 days from the date of filing. You cannot courier the ITR-V.

You do not need to send any supporting documents along with the ITR-V. Just the one page signed ITR-V. The envelope should be send to Income Tax Department CPC Post Box No.1, Electronic City Post Office, Bangalore-560100, Karnataka.

Upon receipt of ITR-V, CPC Bangalore dispatches an email acknowledgement on receipt of ITR-V. It should reach within 4-5 days after sending ITR-V to Bangalore.

The e-mail from CPC is sent to the email ID mentioned in the ITR. This is your acknowledgement. Your filing is now complete. Remember you have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above.

Remember, if you miss submitting your ITR-V within 120 days, your e-filing will be considered invalid. It will be considered that you have not yet filed your return. You then have to file a revised return, get a new ITR-V and submit the same within 120 days.

Not received the acknowledgement

If you haven't received the acknowledgement, download the acknowledgement from the income-tax web portal by logging in through your online account. The same will be available under 'E-filing processing status' under the tab 'My Account'.

The receipt can also be checked by adding your PAN and assessment year or by filling the e-filing acknowledgement number on the 'ITR-V Receipt Status' tab under 'Services' section on the e-fling website.

You can also call the CPC call centre number 1800-4250-0025 (from 9am to 8pm) to enquire about the status of e-filing. For rectification and refund, the number is 1800-425-2229.

How to File ITR-V?

Once you understand what is ITR-V, use the Income Tax Department's e-filing portal to file it. Choose one of two methods:

• Provide your return electronically with a digital signature.
• Send your return data electronically and then submit your verification of the return in Return Form ITR-V.

If you file online, print two copies of the ITR-V Form. Sign one copy of ITR-V and mail it to Post Bag No. 1, Electronic City Office, Bengaluru–560500 (Karnataka).

The other copy of the return must be kept by the assessee for their records. Firms liable to audit under Section 44AB must mandatorily submit their returns electronically with a digital signature.

Offline submission is also possible by physically submitting Form 5 or a bar-coded return. When filing on paper, an acknowledgement slip must be paired and filed along with the return.

How to Download ITR-V?

Once you understand how to file ITR-V, you will have to learn to download the form. The steps for downloading the form include:

• Proceed to the tax e-filing website and log in with your credentials. Check out the View Returns / Forms link.
• Choose the option "Income Tax Return" and "Assessment Year." Hit the submit button.
• Select the ITR-V acknowledgement number of the return.
• The form will get downloaded.

Ways to E-Verify Income Tax Return

You are now aware of how to download ITR-V. So, it’s time for you to learn about the methods using which you can verify your income tax returns electronically:

Use Aadhaar-based OTP

Select the option to undergo verification by receiving a code on your registered mobile number. After that, you can continue on the e-verification page. A pop-up will come on the screen where you will have to tick a box to validate your Aadhaar card details. A six-digit code will come in your registered cellphone number.

Choose the Net Banking Option

If you select this option, you will have to choose the bank where you desire to validate your details. After that, click on the continue option to get a disclaimer on your screen. Read that before proceeding further.

Next, you will have to log into your account to access the net banking feature. Select the e-verify option, usually located on the 'Tax' page. Navigate to the relevant ITR form and complete the process successfully on the e-filing website.

Verification Through Your Bank Account

In the e-verification window, select "Via Bank Account" and click "Continue." The code will appear in the mobile number and email address related to your EVC-enabled bank account. Enter the EVC you received and click "e-verify."

Do It Through Your Demat Account

On the e-verify screen, select "Via Demat Account" and click "Continue." The EVC will come in the mobile number and email address linked to your Demat account. Enter the EVC that you got, and then click "e-verify."

Undergo Verification in Your Bank ATM

You can also generate EVCs using an ATM card from select places like the Axis Bank and State Bank of India. Enter your PIN after inserting the card. Select the option "Create EVC for Income Tax Filing". You will get an EVC in your registered mobile number and email address that is linked with the e-filing portal.

Make sure your PAN is registered with the bank. Go to the 'e-verify returns' tab on the portal. Select the option "I already have an Electronic Verification Code" to verify your returns. Enter the EVC code and click the e-verify button.

Conclusion

Try to print the ITR-V form using dark blank ink, ensuring everything is legible. Add your original signature in blue ink on the form. Make sure the signature does not overlap the barcode. Ensure that the barcode and the numbers below it are visible and not covered by the signature. Remember these small details while preparing and sending your ITR-V.