Those who file Income Tax Return will get refund only when you have completed the e-verification process of ITR. Those who do not complete the e-verification may have to pay a fine.
The Income Tax Department has issued information for such taxpayers, who have not done e-verification of their income tax return (ITR-E verification). If you have filed Income Tax Return (ITR) and have not done e-verification, then the filing process is considered incomplete. So if you have not completed this work, then get it done as soon as possible. The department said that those who do not complete the e-verification may have to pay a fine.
E-verification mandatory within 30 days
The Income Tax Department tweeted that remember to do e-verification within 30 days of filing ITR. Late verification may attract late fine as per the provisions of the Income Tax Act, 1961. To prove the income tax return valid, its e-verification is necessary. The Income Tax Department has made e-verification of returns mandatory within 30 days of filing ITR. If you had filed your ITR on July 31, 2023, then you have very little time left for e-verification.
Steps for e-verification of ITR
- Go to the e-filing portal of Income Tax. Click on ‘e-verify return’.
- Enter your PAN, assessment year and acknowledgment number.
- You can also log in with your PAN and password, then go to ‘My Account’ and then click on ‘e-verify returns’.
- After this, a new page will open on your screen, from which it will be known that your verification is pending.
- The process of verification through Aadhaar OTP is very easy. One can use the OTP received on the mobile number registered and mapped with Aadhaar for verification and e-verification of the return.
Otherwise refund will not be given
Income tax return filers will get refund only when you have completed the e-verification process of ITR. If you do not complete this work, then after 120 days your return will be invalidated. CBDT Chairman Nitin Gupta had told recently that the average time taken in return processing has come down to 16 days this year as compared to 26 days last year. He said that it will be further reduced in the coming days.
When can I file ITR?
Taxpayers filing income tax returns after July 31 will have to pay late fees. If an individual earns more than Rs 5 lakh in a year, then he will have to pay Rs 5,000 as late fine. If the annual income of a taxpayer is less than Rs 5 lakh, then he will have to pay Rs 1,000 as late fee. Late ITR filing option with penalty is available till December 31, 2023.
