Active Stocks
Fri Apr 19 2024 09:25:47
  1. Tata Steel share price
  2. 160.70 0.44%
  1. Infosys share price
  2. 1,392.00 -2.01%
  1. Tata Motors share price
  2. 967.20 -0.43%
  1. ITC share price
  2. 421.25 0.55%
  1. NTPC share price
  2. 349.30 -0.60%
Business News/ Politics / Policy/  E-filing: Taxpayers to get one-time password with 24-hour validity
BackBack

E-filing: Taxpayers to get one-time password with 24-hour validity

The department has decided to usher these new protocols as new ITRs for 2015-16 have been notified

An OTP will be ‘alive or valid’ for 24 hours so that a filer has time to process the return at his or her end. Photo: Arvind Yadav/HTPremium
An OTP will be ‘alive or valid’ for 24 hours so that a filer has time to process the return at his or her end. Photo: Arvind Yadav/HT

New Delhi: To end the trouble of sending paper-based acknowledgement of the e-filed income tax returns (ITRs), the Central Board of Direct Taxes (CBDT) is planning to send a one-time password (OTP) on taxpayers’ mobile phones which will be valid for 24 hours after getting verified from the Aadhaar database.

The department, a senior official aware of the issue said, has decided to usher these new protocols very soon as the new ITRs for the assessment year 2015-16 have recently been notified, heralding the onset of the tax filing season. The deadline for filing ITRs is 31 August. A senior official involved in the processes said that the new ITRs will capture the Aadhaar number of an individual and after doing a “back end" matching of the Aadhaar number with the mobile number and other vital personal data of the individual, an OTP will be generated and sent for validating and final submission of the return.

“The department will do the matching with the Aadhaar database where the biometrics and particulars of an individual are hosted. If the Aadhaar number and relevant details like permanent account number (PAN) and mobile number get kind of matched, then an OTP will be sent on the mobile which will be valid for 24 hours. So, once you have uploaded your return (ITR), there will be an icon showing validate your return and with that OTP you can do that," the official explained.

The official said the department was currently thinking of having an OTP that will be “alive or valid" for 24 hours so that a filer has time at hand to process the return at his or her end. “There could be an option to generate a second OTP too but that is being worked out. After putting the OTP, you then don’t need to send the ITR-V (paper acknowledgement). The problem of ITR-V will get resolved," the official said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 29 Jun 2015, 11:42 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App