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Business News/ Money / Personal Finance/  Income tax return filed but yet not verified? A step-by-step guide
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Income tax return filed but yet not verified? A step-by-step guide

As of now, the income tax department is running a 30-day unverified campaign to spread awareness about the importance of verifying an income tax return (ITR)

As nearly 81 lakh returns are yet not verified, we explain the step-by-step process to do so Premium
As nearly 81 lakh returns are yet not verified, we explain the step-by-step process to do so

As the last date to file income tax return (ITR) for this year has already passed on July 31, some taxpayers have yet not verified their return so far.

The total number of income tax returns (ITR) that have been filed for this year are 6.81 crore whereas the number of verified returns is 6 crore, leaving more than 81 lakh unverified returns so far, shows the data on I-T portal as on Aug 6, 2023.

For FY 2022-23

Returns filed              6.81 crore
Returns verified           6 crore
Returns unverified     81 lakh

The income tax department is currently running a 30-day campaign to spread awareness about the need to verify returns.

Image from I-T department's 30 day campaign
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Image from I-T department's 30 day campaign

The campaign states that it is vital to verify a return within 30 days of submission, failing which the date of verification will be considered as the date of filing. You will be liable for penalty and provisions as per Income Tax Act 1961.

So, in case you filed your return last month but have still not verified the return, it is recommended to do it at the earliest.

Verifying the income tax return is a four-step process. At the outset, you need to go to the quick link ‘e-Verify Return’ on the Income Tax portal. As you enter the link, it is shown as a four-step process.

One can find the 'e-verify' option among the quick links on I-T portal.
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One can find the 'e-verify' option among the quick links on I-T portal.

In the first step, the taxpayer must first enter the personal details which include the PAN, assessment year, acknowledgement number and mobile number.

In the second step, taxpayers need to select ‘verification’ to proceed with actual verification of return.

In the third step, the taxpayer is supposed to select the method for return verification. Finally, in the fourth step, the tax return is successfully verified.

It is vital to note that e-verification is possible for returns filed for assessment year 2019-20 onwards and the returns where digital signature certificate is not mandatory.

 

learning-lessons-widget
Why should you file ITR even with no taxable income:
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Why should you file ITR even with no taxable income:

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Published: 16 Aug 2023, 11:47 AM IST
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