You can submit your tax returns online using software approved by the Income Tax Department. Taxpayers can opt to file their returns the official website of the Income Tax Department or through authorised third-party websites.
E-filing of IT returns or the process of submitting tax returns online, (using tax preparation software approved by the income tax department of India), is witnessing rapid growth with more and more taxpayers increasingly opting for it across the country. The due date for filing tax returns (physical or online), is July 31.
Where do you file your IT Returns?
Taxpayers can file returns either through the IT department’s official website or several other authorised sites such as Taxspanner.com, Taxyogi.com, Taxsmile.com, taxshax.com and myITreturn.com among others.
Why do you have to e-file your IT Returns?
- Environment friendly
From acknowledgment of ITR forms to refunds, the process is faster compared to paper filing.
E-Filing software helps reduce errors due to inbuilt mechanisms.
Taxpayers can file their returns anytime and from any location at their convenience.
E-filing is safer as opposed to paper based filing which can be easily tampered with.
E-filing software applications, by and large, allow easier access to information.
E-filing needs almost no paperwork as opposed to paper based filing.
The table below clearly shows the significant growth of e-filing income tax returns in the country.
|Forms||No. of people who have filed returns online during FY 2013-14||No. of people who have filed returns online during FY 2014-15||Growth (y-o-y) %|
E-filing of returns is mandatory for the following:
- Every company or every AOP or BOI.
- An individual [apart from a company and a person required to produce IT returns in ITR 7 ] whose income is above Rs. 5 lakh during the previous year.
- A firm, individual or HUF (Hindu Undivided Family) who need to get their accounts audited under section 44AB.
- Every individual claiming tax relief under section 90, 90A or section 91.
- A political party, if its taxable income is above a specific amount, not having claimed exemptions U/S 13A,
- Resident and HUF with signing authority, asset or financial interest in any firm abroad.
If the taxpayer adds his or her digital signature (can cost around Rs. 1,500) while e-filing income tax returns, the process is complete in that it requires no further action. The taxpayer will then receive the acknowledgement by the income tax department through email. However, if the taxpayer files his or her returns online sans the digital signature, the process of e-filing is not complete. The returns should, therefore, be forwarded to the Central Processing Centre (CPC) of the income tax department in Bangalore.
E-filing of return with digital signature is mandatory for the following:
- All companies.
- A firm, individual or HUF required to get their accounts audited under section 44AB
- A political party, if income is above the stated limit, without claiming exemptions under section 13A, which is not chargeable to tax.
Income Tax Return-Verification form (ITR-V)
A taxpayer who e-files income tax returns without his or her digital signature, has to post the ITR-V to the income tax department's Central Processing Centre in Bangalore, failing which the returns will be considered invalid.
ITR-V (Income Tax Return - Verification form issued as an acknowledgement of returns) is a one page document which is received by the taxpayer when returns are filed online without using a digital signature. It is sent by the income tax department which needs to verify the authenticity of e-filing returns sans a digital signature.
Measures to be taken for Proper Documentation:
The password of the document consists of PAN (in lower case) in addition to the date of birth (ddmmyyyy). Taxpayers should adhere to the following instructions before sending their ITR-V forms to CPC, Bangalore.
- Only A4 size paper should be used by taxpayers.
- Print out should be clear and not faded.
- Taxpayers should sign the document in blue ink.
- There should be no signatures on the bar code.
- The bar code and numbers below it should be clear.
- The document should not be folded and stapled.
- No annexures, pre-stamped envelopes and so forth should be sent along with the ITR-V form.
- Two separate papers should be used for printing original and revised returns.
- The ITR-V form should reach CPC within 120 days of filing of returns.
- ITR-Vs that deviate from the aforementioned specifications may get rejected or get late acknowledgement of receipt.
Process Complete: CPC Bangalore – Address
On receipt of the ITR-V form, the taxpayer has to sign the copy of the form (in blue ink) and need not send any supporting documents with it. The envelope should be sent to following address.
Income Tax Department - CPC, Post Box No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka, India.
When do you get acknowledgement receipt from CPC?
It usually takes CPC about 3 weeks from the date of posting the ITR-V form to send acknowledgement to the taxpayer’s email id. If the taxpayer does not receive any acknowledgement for over 3 weeks, he or she needs to post another copy to the income tax department.
What to do when you do not receive an acknowledgement?
If the taxpayer does not receive an acknowledgement, he or she can download it from the income tax website by logging in through the online account. The acknowledgement will be available under 'E-filing processing status' under the tab 'My Account'. Also, the acknowledgement receipt can be checked by adding one’s PAN and assessment year or by entering the e-filing acknowledgement number on the 'ITR-V Receipt Status' tab under 'Services' section on the website.
Taxpayers can also contact the CPC call centre at 1800-4250-0025 (9am to 8pm) to know about the status of their e-filing returns or 1800-425-2229 in case of any rectification and refund.
If the returns are filed after the end of the assessment year, a penalty of Rs. 5000 can be levied by the income tax department under section 271F. If the returns are not filed before the due date, as per section 139(1), loss incurred during the year under the bracket ‘profits and gains of business and professions’ and ‘capital gains’ cannot be taken forward by the taxpayer to the next year.
The Aadhaar Connection:
The Central Board of Direct Taxes (CBDT) recently introduced a new system wherein an Aadhaar-based electronic verification code will be sent to taxpayers for authentication, thereby obviating the need to send copies to CPC for verification.
The new system is only another alternative of filing returns in that those who wish to send their ITR-V forms to Bengaluru centre or use digital signatures can continue to do so. Also, those who do not possess an Aadhaar card will have to stick to the current system.
In the new system, an additional row provided in the Income Tax Return (ITR) forms will enable taxpayers (assessment year 2015-16) to enter their Aadhaar card number, following which, a one-time password is generated for verification. The verification number, should then be entered into the ITR form to complete the e-filing process.
Frequently Asked Questions: Sending ITR-V to CPC
- Is it possible to send multiple ITR-V forms?
- What is the difference between ITR-1 and ITR-V?
- Do we need to send Form-16 along with the ITR-V?
- What are the documents that need to be attached with ITR-V and ITR-1?
Yes, you can send multiple ITR-V forms. This is applicable for instances where the individual has switched employments and has more than one Form – 16.
The ITR-1 Form is also referred to as Sahaj. The ITR-1 Form is a type of Income Tax Return Form that is applicable for salaried individuals. When an individual draws income from employment, interest, or pension, he/she is required to furnish the ITR-1 Form. The ITR-V (Income Tax Return–Verification) Form is furnished to indicate that the details in your form are verified. Once you have filed your ITR electronically, you are required to validate the signature in order for it to be considered as accurate by the IT Department.
No, the ITR-V doesn’t require any supporting documents.
The ITR-V doesn’t require any supporting documents, however, the ITR-1 requires the following supporting documents:
- Copy of the PAN Card
- Form 16 - For salaried individuals
- Form 16A - For non-salaried individuals
- Bank statement/passbook
- Form 26AS
- Proof of investments along with relevant receipts
If you have filed your income tax returns electronically without the digital signature, you will receive the ITR-V from the IT Department, you will be required to sign the ITR-V and send it to the Central Processing Centre (CPC) in Bangalore. If you fail to sign the ITR-V and send it within the due deadline, your tax filing will be considered as invalid. The signed ITR-V needs to reach the CPC within 120 days of filing the ITR.
If you have filed your ITR online, then can easily obtain a copy of the ITR-V on the website - https://incometaxindiaefiling.gov.in/. However, if you have filed your ITR manually, you will need to write to the AO for the duplicate ITR-V. To obtain a duplicate ITR-V in case of an online ITR filing, you can login to the above website with your credentials, navigate to your account section, choose the assessment period and download the ITR-V. The ITR-V needs to be printed on an A4 size paper in black ink only.
In order to change the e-mail address in ITR-V, you can login to your account, visit the settings, click on change, enter the new e-mail address and click on submit.
If you have not received your acknowledgment, you can download it from the website of the IT Department - https://incometaxindiaefiling.gov.in. Once you have logged into your account, navigate to 'E-filing processing status' under the 'My Account' tab, this section will display the ITR-V available for download. You can also use the e-filing acknowledgment number to retrieve the ITR-V by navigating to 'ITR-V Receipt Status' option under the 'Services' section of the website.
The Income Tax Department allows you to send the ITR-V within 120 days from the date of filing the ITR online. At certain instances, the IT department may extend the deadlines.
The ITR-V acknowledgment requires your signature. Once you have signed the ITR-V, you will need to send it to CPC, Bangalore without any supporting documents.
No. You cannot send use anything other than ordinary post or speed post, where you do not need an acknowledgement from the receiver.
No. The ITR-V has to be signed in original and not photocopied. The signature should not be done on the barcode.
As eco-friendly as the idea is, the CPC does not accept ITR-Vs that have anything else printed on the other side.
Yes. There is no restriction on the number of ITR-Vs you can send in the same envelope to CPC. However, ensure that the barcode is not tampered with and that the ITR-Vs are not stapled together.
The ITR-V is available on your Income Tax e-filing profile. Sign in to the site, go to ‘My Account’ and choose ‘My Returns/Forms’. You will find all ITR-Vs that you have filed online, at this location.
Yes. You can choose either electronic verification code (EVC) or Aadhaar Card verification instead of sending the physical copy. First you need to link your Aadhaar with PAN to facilitate the e-verification.
Earlier, the department did not permit ITR-Vs of assessment years other than the one immediately preceding the current fiscal, to be verified online. However, in a recent circular, the Income Tax Department has said that regularisation of ITR-Vs from 2009-10 to 2014-15 can be done through EVC for the convenience of the taxpayer. However, this has to be done before July 31, 2016 – this is an extended deadline and a final opportunity for regularisation of ITRs.