The income tax department on Wednesday said over 3 crore income tax returns (ITRs) have been filed till July 18, hitting the milestone 7 days faster than last year. Last year, 3 crore ITRs were filed till July 25. The tax department also urged those, who haven’t filed ITR for AY 2023-24, to file their ITR at the earliest to avoid last minute rush.
"Out of the 3.06 crore ITRs filed till July 18, 2023, 2.81 crore ITRs have been e-verified i.e., more than 91 percent ITRs filed have been e-verified. Out of the e-verified ITRs, more than 1.50 crore ITRs have already been processed. So, we hope to keep up the momentum," the tax department said.
The deadline for filing an ITR for financial year 2022-23 (assessment year 2023-24) is July 31, 2023. Revenue Secretary Sanjay Malhotra has recently asked taxpayers to file their return at the earliest as the finance ministry is not planning on any extension of the due date of ITR filing.
ITR can be filed in any of the following ways:
(i) by furnishing the return in a paper form;
(ii) by furnishing the return electronically under a digital signature;
(iii) by transmitting the data in the return electronically under electronic verification code;
(iv) by transmitting the data in the return electronically and thereafter submitting the verification of the return in return Form ITR-V.
After filing ITR, whether offline or online, one needs to verify the same. In case the verification is not done, ITR cannot be regarded as legal and may not be processed by the department. As a result, taxpayers will not receive any refund.
Here are the ways to e-verify ITR:
a) Steps to verify ITR using Net Banking:
Step 1: Log into the net banking account
Step 2: Click on the 'e-filing' link provided by the bank
Step 3: Click on the 'e-File' tab and select 'Income Tax Return' from the drop-down
Step 4: Select the 'Assessment Year', 'ITR For Name', 'Submission Mode' and click 'Continue'
Step 5: Submit the return
b) Steps to verify income tax returns using a bank ATM:
Step 1: Swipe the ATM card in the bank ATM
Step 2: Select 'PIN for e-Filing'. Electronic Verification Code (EVC) will be received on the registered mobile number
Step 3: Log into the e-filing porta l-- incometaxindiaefiling.gov.in. Select the option to e-verify return using a bank ATM
Step 4: Enter EVC on the e-filing portal. Income tax returns are verified
c) Steps to verify ITR using an Aadhaar card:
Step 1: Go to the e-filing portal
Step 2: Click on the 'e-File' tab and select 'Income Tax Return' from the drop-down
Step 3: Select the 'Assessment Year', 'ITR For Name', 'Submission Mode' and click 'Continue'
Step 4: Click “Generate Aadhaar OTP”. OTP will be sent to the mobile number registered with Aadhaar
Step 5: Enter the OTP and click “Submit”
d) Steps to verify income tax returns using a bank account:
Step 1: Log into the e-filing portal
Step 2: Pre-validate bank account (if not validated)
Step 3: Click on the e-verify link, select the option to e-verify using bank account details and generate OTP
Step 4: EVC is received on the registered mobile number. Enter EVC on the e-filing portal. Income tax returns are verified
e) Steps to verify income tax returns using a Demat account:
Step 1: Log into the e-filing portal
Step 2: Pre-validate the demat account number
Step 3: Click on the e-verify link, select the option to e-verify using demat account details and generate OTP
Step 4: EVC is received on the registered mobile number. Enter EVC on the e-filing portal. Income tax returns are verified.