What are Income Tax Returns?
Income Tax is a tax that is has to be paid duly by each and every person and each and every business that has been earning an income in the country of India by providing any of the following to an employer from any organization:
- Savings account
Now, an income Tax return is the money from the tax that given back to the tax payer in case it was an excess amount paid. This is done in case the income tax return sheets show that an extra or excess amount has been paid through taxes by the person. The income tax which has been paid by the tax payer is to be provided to the Income Tax Department on a sheet which should be filed within a pre – decided date, after which it will not be accepted. In case the income tax paid is more than the necessary amount, then a refund of the tax shall be processed for and given back to the tax payer. To fill the tax refunds online so as to complete the income tax return filing, there are some steps which are provided by the Income Tax Department that every individual that has to file for the income tax return has to follow so that the process is completed smoothly and efficiently.
E – Filing Income Tax Returns
To fill your income tax returns online, there are two processes that you need to follow:
- The uploading of the Income Tax Returns on the website of the Income Tax Department, online
- The preparation and submission of the Income Tax Returns on the website of the Income Tax Department, online
ITR – V: Income Tax Return – Verification
To be able to check the status of your income tax return verification, you first need to finish the process of your income tax return verification. The following are the steps to complete it:
- After the process of linking, you have to upload your income tax returns through the website for income tax e – filing.
- After that, you will get an option which will ask you to choose from the following options about what kind of way you would like to verify your returns:
- I do not have an EVC and would like to generate EVC to e – Verify my return.
- I would like to send ITR-V/I would like to e-verify later.
- I would like to generate Aadhaar OTP to e-Verify my return.
- I already have an EVC to e-verify my return.
- You need to select only one option that says that “I would like to generate Aadhaar OTP to e-Verify my return” in order to process the verification.
- After you click on the option which says “I would like to generate Aadhaar OTP to e-Verify my return”, you will get an OTP – one time password which will be sent to your phone device with was registered or linked with your Aadhar card. Now, this is a very crucial step to follow. You will have to be very quick with your next step as the OTP will only be valid for 10 minutes, so you need to have good connection and be connected online.
- Now, enter the OTP – one time password on the page of the website.
- After entering the OTP – one time password. Click on submit to submit the details.
- After that, you will receive a message that reads “Return successfully e – verified”.
- Now what you need to do id that download the acknowledgement. The acknowledgement will also be sent to your e mail identification account which is registered with all this.
The income tax return verification process is now complete and after this, you can move on to checking the status of your income tax return verification which is explained to you in a very simple 5 step guide for your convenience and ease.
The basic 5 step – guide to check your ITR-V Receipt Status
Step 1: Go to the website
The first step that you need to take in order to check the status of your Income Tax Returns is to go to the website of the Income Tax Department so that the process can be kick started. Click on this link: incometaxindiaefiling.gov.in. It will take you directly to the website of the Income Tax Department.
Step 2: Open the ITR – V Receipt
The next thing that you need to do is to click on the Income Tax Return Verification Receipt.
Step 3: Enter details
Now, what you need to do is, enter your PAN – permanent account number details and information and then select A.Y.
Step 4: Enter Captcha code carefully
Now, you need to enter the captcha code provided. The captcha code is asked for so that the website confirms that you are a human entity who is trying to enter into an account of the Income Tax Department website and you are not a virus or a robot trying to hack into any account. Hence, this step is extremely important to complete. Click on ‘submit’ after you enter the captcha code or number.
Step 5: Status
After the completion of the details above, a new page will open up; this will display the ITR – V Receipt Status: Income Tax Return Verification receipt status of your account.
Follow these easy steps to get your income tax return verification status checked and kept a tab on for your ease and convenience. You will get the ITR-V Receipt Status as soon as you complete the 5 steps which will guide you to the status. Make sure that you has completed the process of income tax return verification so that the status can be processed. Also, fill in all the details with utmost concentration so that there are no mistakes and the process can be completed without any errors or omissions for viewing the ITR-V Receipt Status.