The tax season is officially here, and the process for filing an income tax return (ITR) for the fiscal year 2023-24 and assessment year 2024-25 has begun. The Income Tax (IT) Department has opened its portal for individuals to submit their forms, with the last date of filing being July 31st, 2024 (Wednesday).

As the process becomes more digitalised and streamlined today, one thing we all tend to overlook is that filing the tax return does not end with the submission of the ITR. Verifying the return within 30 days of filing is a compulsory step of the ITR filing process.

It’s important to note that, without filing the ITR-V form, the Income Tax Department will not process the tax return and it shall be considered ‘Invalid,’ with a notice being given by the department. Here’s all you need to know about the ITR-V form and how one can download and file it online.

What is the ITR-V Form?

ITR-V, or the Income Tax Return Verification Form, is a crucial document for taxpayers who file their returns online without using a digital signature. This single-page form serves as a verification of the income tax return (ITR) submitted electronically.

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How to download the ITR-V Form?

Generated by the income tax department, this form is a single-page document that contains important details related to your ITR filing and is sent to taxpayers through email. Once you have filed your ITR online, you can expect to receive the ITR-V form at your registered email address within a few days.

If not, one can also download it online from the official website by simply logging in to your account on the e-filing portal and navigating to the “View Filed Returns” section. From there, you can access and download your ITR-V form.

Step 1: Visit Income Tax India’s official website at http://www.incometax.gov.in and log in to your account.

income tax login

Step 2: After login, navigate to the ‘e-File’ section, followed by the ‘Income Tax Returns,’ and then the ‘View Filed Returns’ option to check the e-filed tax returns.

View filed returns

Step 3: The next step is to download the ITR-V by clicking on the ‘Download Form’ button for the relevant assessment year. For this FY 2023-24, the AY will be 2024-25.

ITR-V download

Once the acknowledgment form is downloaded, have a glimpse below at what the ITR-V form looks like:

ITR-V

The Next Steps:

Note that e-verifying your ITR through ITR-V is an offline method. One needs to print, sign and send the ITR-V form to CPC Bangalore within 30 days from the date of e-filing. Here’s how:

Step 4: Send the signed ITR-V form to the following address:

Income Tax Department – ​​CPC
Post Box No.1,
Electronic City Post Office,
Bangalore-560500, Karnataka.

Step 5: ITR will be considered verified once the Income Tax Department receives and processes your signed ITR-V form

How to e-verify your ITR?

In addition to this, the Income Tax Department also provides several online e-verification options, such as using Aadhaar OTP, Digital Signature Certificate (DSC), Electronic Verification Code (EVC) through net banking or bank account, or net banking.

  • Aadhaar-based OTP: Choose the “Verify using OTP on Aadhaar” option, agree to validate your Aadhaar details, and enter the OTP received on your registered mobile number.
  • Net Banking: Select “Via Net Banking”, choose your bank, and log in to your net banking account to e-verify your ITR.
  • Bank Account: Generate an Electronic Verification Code (EVC) through your pre-validated bank account and enter the EVC to e-verify.
  • Demat Account: Similar to a bank account, generate an EVC through your EVC-enabled Demat account and enter it to e-verify.
  • Bank ATM: A few banks allow generating an EVC using your ATM card at their ATMs. Enter the EVC received on your registered mobile and email.
  • EVC Entry: If you already have an EVC, you can directly enter it on the “e-verify returns” page to complete the verification process.

Remember, timely e-verification of your ITR is crucial to avoid late filing fees and interest charges. Reach out to your tax professional if you need any assistance