Tuesday, July 21, 2015

Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced

Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced

As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns for A.Y. 2015-16 in these cases.

Under this, a taxpayer may verify his return through Internet Banking or through Aadhaar based authentication process.

For the convenience of small taxpayers having total income of Rs. 5 lakhs or below without any claim of refund, facility for generating Electronic Verification Code (EVC) has also been provided on the E-filing website of the Department. In such cases EVC will be sent to the Registered Email ID and Mobile Number of the taxpayer. Persons using this facility will not be required to submit a signed paper copy of ITR-V to the Income-tax Department.

Taxpayers are permitted to use Digital Signature Certificate (DSC) to verify their e-filed Income-tax return. The electronic signature is a type of DSC and can be used to verify e-filed Income-tax return. As mentioned above, the taxpayers can use their Aadhaar number for e-filing of return as per the Aadhaar based authentication process.

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.

PIB

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