ITR verification: Deadline to confirm ITR for AY 2020-21 ends as we speak

The Income Tax division has shared an vital replace for taxpayers who’ve filed an Income Tax Return (ITR) for the evaluation 12 months (AY) 2020-21.

It knowledgeable that the final day to confirm the tax returns is Monday and urged folks to not “miss out”.

“TODAY is the final date to confirm your ITR filed for AY 2020-21! Don’t miss out on the ultimate probability to confirm your ITR! #ConfirmNow (sic),” tweeted Income Tax India. 

Verification of the tax return both electronically or by sending a signed bodily copy of the return filed on-line is crucial as it’s a method of declaring the truthfulness of the knowledge reported within the return, a authorized requirement.

If a tax return shouldn’t be verified in time, the return is handled as ‘not filed’ and it’ll entice all the results of not submitting tax returns.

However, one can request condonation of delay in verification. After submission of such a request, the taxpayer will have the ability to e-verify the return. But the return shall be handled legitimate solely after the condonation request has been permitted by the tax authority.

Tax returns are normally to be authenticated inside 4 months of submitting the return. As a one-time reduction, the division in December allowed tax payers to authenticate returns for AY21.

The e-verification of ITR for AY 2020-21 may be carried out by way of Aadhaar OTP, by logging into an e-filing account by way of web banking, digital verification code (EVC) by way of checking account quantity, EVC by way of demat account quantity, by sending an obligation signed bodily copy of ITR-V by way of publish to CPC, Bengaluru.

How to confirm utilizing Aadhaar OTP?

Your cellular quantity should be linked to Aadhaar and registered within the UIDAI database. The PAN should be linked to Aadhaar as nicely.

Select ‘I wish to confirm utilizing OTP on a cell phone registered with Aadhaar’ and click on ‘Continue’ on the I-T web site’s e-verify web page.A pop-up window will show in your display screen, prompting you to examine the field labelled “I accept to authenticate my Aadhaar details.”Select ‘Generate Aadhaar OTP’.Your registered cellphone quantity will obtain an SMS with the six-digit OTP.Enter the OTP acquired within the required field and press the submit button.

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