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E-filing and E-verify Income Tax Return

E-filing is a process of electronically filing Income Tax Returns & forms. E-verify is a method to complete the verification of the return e-filed.

What is E-filing? The advancement of technology and increased use of the internet gave rise to the concept of E-filing. E-filing is a method through which income tax returns and other forms can be filed online with the help of internet. Section 139(1) of the Income Tax Act, 1961, states that people having income chargeable to tax should file income tax returns (ITR). It not just eases the method of filing but also helps in saving a lot of time and energy. E-filing is referred to electronic filing.

E-filing is made compulsory for the following entities

  • For Individuals or HUFs:

    • The audit is required u/s 44AB. E-filing must be done along with Digital Signature.
    • Other than above, and

      • Furnished return in ITR-3 or ITR-4; or
      • A resident individual or HUF (excluding nor ordinarily resident) having assets outside India; or
      • Relief u/s 90 or 90A or deduction u/s 91 is available; or
      • Furnish Audit Report u/s 10(23) (iv) to (via), 10A, 10AA, 12A(1)(b), 44AB, 44AD, 50B, 80IB, 80IC, 80ID, 80JJAA, 80LA, 92E, 115JB, or any other section notified u/s 11(2)(a); or
      • Income exceeding five lakhs; or
      • Claim refund

        Note: The return should be filed using the following in the above cases-

        • Digital Signature Certificate (DSC);
        • E-Verification Code (EVC);
        • Verification through ITR-V submission.
  • Companies
  • Person furnishing ITR-7
  • Firm or LLP or person furnishing ITR-5

Types of E-filing

E-filing of Income Tax Return can be done in three ways:

  1. By using e-Return Intermediary (ERI).
  2. By using digital signature certificate (DSC) or e-verification code (EVC).
  3. By posting the signed ITR-V form to Bangalore, this is generated after submitting the return.

Methods of E-filing

  1. A taxpayer can fill and submit ITR-1 or ITR-4S online.
  2. Income tax return can be filed offline by return making software available on the Income Tax Department website. ITR-1 to ITR-7 can be prepared and uploaded by this method.

What does e-verify Income Tax Return mean?

Once a taxpayer files the Income Tax Return, it becomes necessary to verify the acknowledgment generated. The process of tax filing gets completed once verification is done. To make the verification process easy for the taxpayers, Government has introduced method of E-verify Income Tax Return. E-verify is referred to Electronic Verification. The following ways are used to e-verify:

  1. Net-banking login; or
  2. Aadhaar OTP validation; or
  3. E-filing OTP; or
  4. Bank ATM (SBI)