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Faster, easier and secure gateway to e-file income tax return

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What is EVC and how is it important for verifying ITR

6/30/2017
What is EVC and how is it important for verifying ITR

EVC - full form electronic verification code - is an electronically generated code. It is a one-time password sent to the mobile number which is registered for filing the return online. The verification code provided will be a ten digit alpha numeric number. Any electronic verification code which is mismatched, invalid or has been already used will be rejected. Any taxpayer whose income is rupees 5 lakh or less and has no claims to be refunded, can generate the electronic verification code directly for the purpose of e-filing and validating their income tax return (ITR).

Features and Usage of Electronic Verification Code (EVC)

1. The 10 digit alpha numeric code will help in verifying the identity of a person fling the income tax returns.

2. The verification code is used for filing the ITR 1(Sahaj)/ITR 2/ITR 3/ITR 4/ITR 4S (Sugam).

3. An electronic verification code can be used to validate only one tax return whether it is revised or original

4. If in case the tax returns are already filed or uploaded, the verification is required to be done within 120 days of filing the return.

Generation of Electronic Verification Code (EVC)

There are four methods to generate electronic verification code (EVC). Before generating electronic verification code one needs to ensure that the mobile number and email address is registered with income tax department.  

1. Generating EVC through e-filing web site

2. Generating EVC through bank account

3. Generating EVC through net banking

4. Generating EVC through demat account

However it can also be generated through the ATM.

Generation of Code through E-Filing Website

Following are the steps to be followed:

1. Login to your account with the help of PAN number user id and password.

2. Click on the e-file tab.

3. Generate the verification code.

4. After generating the code you will receive the code on the registered email address.

5. Put the verification code and submit the process of e-filing gets completed.

Generating EVC through bank Account

To generate the EVC through bank account number, the account should be pre validated. Click on “Pre-validate your Account Number” select the Bank Name, enter the bank details like account number IFSC code and mobile number and click on pre-validate. Once pre-validation is successful you will be asked whether you want to generate EVC.  Click yes and verify with the EVC received.

Generating EVC through the net banking

• Log in to your bank account and use the income tax e-filing tab. This is different from bank to bank.

• Select the option of view returns to see electronically filed tax returns.

• Choose the option “click here to view returns pending for e-verification.”

• Choose the option e-verify

• Click on “generate EVC and get your income tax verified” from the pop- up window.

• An EVC will be generated and verified. No further action is required.

EVC Through Demat Account Number

For generating EVC through Demat account we have to make sure that details must be pre-validated.  From my account section select generate EVC, then generate EVC through Demat account number. A pop- up with pre-validate account will appear. Pre-validate it using your credentials. A pop-up with whether you want to generate EVC will appear. Click yes. Now verify using EVC.

ITR V of income tax

ITR-V stands for “Income Tax Return-Verification form”. People generally read it incorrectly as ITR-(Five)

This form is received when a person e-file the tax returns. When the income tax department verifies the submission ITR-V is given as acknowledgement for filing. As and when you receive the ITR-V a person is required to send the signed copy of ITR-V to CPC, Bangalore on the address mentioned in ITR-V or one can also electronically verify the same.

ITR-V should be sent to CPC within a period of 120 days for filing the income tax return, if not done, the process of filing is incomplete. One should keep in mind that ITR-V should not be folded and should be sent through ordinary or speed post only, it should be not through any private courier. Sending the ITR-V physically is only for those assesses who have not opted for electronic verification code or those who have no digital signature. The assesses who have signed with the digital signature and have opted for EVC method are not required to send their ITR-v to CPC.