income tax

income tax

3 How to file tax returns using Electronic Verification Code (EVC) for AY 2015 16( Net Banking)

3d ago
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How to E validate filed income tax return using Net Banking (Live)! Project - Make Knowledge free By - Amlan Dutta Video Link - https://www.youtube.com/watch?v=R-Ls5Yqy-gs Recently( In fact yesterday ) the income tax department has newly introduced EVC i.e electronic validation code for electronically validating your filed return so that you don't have to send the Filed Returns to the tax department ! Earlier , individuals were required to send send acknowledgements for filed returns to the tax department. Now , they are no longer required and they can validate their return electronically using several outlined methods (1) Using Aaadhar card In this method , you first are required to link Aadhar to the Income tax database website first .Once successful linking is done , Then for all filed returns , you can e verify the same using Aadhar OTP Basically when you register Aadhar , you register a certain mobile number Once the aadhar is linked and you decide to use the Verify option for E Aadhar , then on the Aadhar registered mobile number a OTP(one time password comes) You are then required to punch in this One time password in the slot and that's it . Your return has been verified If you have filed multiple returns ...say original , revised etc etc then in your dashboard when you go to E verify returns , you will see all the friends there To the right of each such return there will be a e verify link As you click on it for each such e verification , you will get a One time password You are required to provide the separate OTP's indvidually for each return ! And voila , your return gets validated ! The acknowledgement which gets generated is therefore electronically validated and need not be send to the department ! After filing , during submission of return stage itself ,this options are available so that assessee can decide whether to validate or still generate unvalidated acknowledgement and sign and send that to the department (2) Case - 2 Using net banking Much simpler , much faster The department understands that not everyone has Aadhar and so has opened up E validation to bring in those people who atleast have net banking in listed banks shown in the tax website Here when you log in internet banking , you will see the option of logging into income tax website .There again a one time password will come to your mail Once you provide that one time password (code) ,it will take you to the same income tax website that you are so used to seeing Now , again go to the dashboard and click on e verify returns and your friends (filed returns ) with acknowledgement numbers shall get displayed But here when you click e verify , thats practically it The validation is complete and you can download the validated acknowledgement right there ! Wonderful isn't it ! (3) People who don't have internet banking can also opt for EVC sent to their registered mail id and mobile number and that can be used , however i understand that it is for income less than 5 lakhs and no refund case ( or some crap ) There are a few more methods , i have practically demonstrated the Aadhar method of validating electronically filed returns The old days of priting the acknowledgement , filling them up , going to the post office and sending them by speed or ordinary post are finally gone ....(still alive for those who hate technology ) So what are you waiting for , go ahead , electronically validate your filed return using code generated through any of the options Aadhar /netbanking /ATM/registered email and mobile ! Share the knowledge ! Cheers , Amlan Dutta.