HomeLatest NewsWhat is it? How to e-verify ITR using Aadhaar-based OTP

What is it? How to e-verify ITR using Aadhaar-based OTP

ITR e-verification: Even as 5.82 crore people have filed their Income Tax Returns or ITRs, only 4 crore people have been verified, meaning over 1.8 crore people have not verified their ITR filings till July 31. However, verifying the income tax return is as important as filing it. Their, as unverified ITRs are treated as invalid by the Income Tax Department. Once the taxpayer verifies the ITR, the Income Tax Department processes it, sends the Income Tax information and issues the refund if applicable.

“You need to verify your income tax return to complete the return filing process. Without verification within the stipulated time, an ITR is considered invalid. E-verification is the most convenient and instant way to verify your ITR,” said the Income Tax department on the e-filing website.

According to data on the e-filing website, a total of 5.83 crore income tax returns were filed, of which 4.02 crore returns were verified till July 31, which was the last date for filing ITR. The Income Tax Department has processed 3.01 crore verified ITRs till July 31, according to the website.

ITR e-Verification Last Date

Now, taxpayers have to electronically verify or e-verify their Income Tax Return (ITR) within 30 days of filing their return of income. Earlier the deadline was 120 days. In a notification, the Central Board of Direct Taxes (CBDT) said it has reduced the income tax verification period to 30 days from the date of transmission or uploading of income return data electronically. This new rule will come into effect from August 1, 2022, CBDT said.

“It has been decided that in case of any electronic transmission of return data on or after the effective date of this notification, the time-limit for submission of e-Verification or ITR-V will now be 30 days from the date of transmission. / Uploading of return of income data electronically,” the notification said.

How to e-verify your ITR through Aadhaar-based OTP.

If you have not yet e-verified your ITR, you should do so within one month of filing the return. This means that if you file income tax return on 31st July, you need to e-verify ITR by 31st August to process it. Otherwise it will become invalid.

There are various ways to e-verify your ITR. These include Aadhaar-based OTP, bank and demat accounts, net banking, ATMs or digital signature certificates. Read on to know how to e-verify using Aadhaar-based OTP.

Aadhaar-based OTP is one of the easiest methods to e-verify ITR. In this scenario, your mobile number must be linked with Aadhaar. On the e-verify page of the income tax portal, select the option that prompts you to use Aadhaar-based OTP to e-verify the ITR. A pop up will ask you to verify Aadhaar information, tick that box. Now, click on ‘Generate Aadhaar OTP’. You will receive a six digit OTP on your registered mobile number. Enter the OTP and submit. This OTP is valid for 15 minutes only.

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