July 31 was the deadline for filing income tax returns for individuals, this year, the government has extended it till August 5 owing to technical glitches faced by taxpayers while filing tax returns online.
On Friday the income tax department further said its field offices will remain open until midnight on Saturday to facilitate very senior citizens and those with income below Rs. 5 lakh to file tax returns for 2016-17.
This year onwards, the tax department has introduced easier steps to complete tax filing exercise.
Until now, the verification of ITR had been a cumbersome exercise as a taxpayer was required to either post the dully-signed ITR Verification form to the CPC office in Bengaluru or had to digitally sign it and then again upload it on the portal.
However, the tax department has scrapped the daunting process and made the entire procedure more taxpayer friendly. Here’s how a taxpayer can verify income tax returns:
1. A taxpayer can generate EVC or Electronic Verification Code, which is a 10-digit alpha-numeric code. The EVC code can be received on your registered email ID and mobile number.
2. A taxpayer can also avail e-verification through Aadhaar number along with an OTP or One Time Password. The OTP can be received on your registered mobile number with the IT department.
3. You can also e-verify your income tax returns via net banking.
4. If you hold a valid bank account number, then also you can e-verify your ITR. The IT department sends you EVC on your account number after validating bank account details from the taxpayer. Also, you can get your e-code via your ATM card.
5. If you are a stock market investor, then you can verify your I-T returns via the Demat account. The Demat account is used as a bank where shares bought are deposited in, and where shares sold are taken from.
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