Once you file an income tax return (ITR), you need to verify the same within 30 days from the date of filing. If you fail to verify the ITR within the stipulated time frame, the returns will be declared invalid by the income tax department.
Whether you are a registered or non-registered user, the e-Verification facility is now accessible to everyone who files for income tax returns. However, if you want to e-Verify your returns only through net banking, you must log in to the e-Filing portal.
There are numerous options available for verifying tax returns. Net banking is one of the easiest and most convenient ways to do so. The article answers your question of “how to e-Verify ITR through net banking” in a simplified manner. Read on to understand the procedure.
Pre-requirements for ITR Verification
Make sure you meet the following conditions to verify your income tax return:
- You must be a registered user on the e-Filing website with a valid user ID and password.
- You have filed a return, or an ERI (E-Return Intermediary) has filed the return for you.
- PAN (Permanent Account Number) must be linked to your bank account.
- Net banking service of the particular bank account must be enabled.
Steps to e-Verify your Income Tax through Net Banking
It is essential to e-Verify your ITR; otherwise, your return will be considered unfiled. Here are all the steps to verify your income tax return using the net banking method:
- Go to the official income tax e-Filing portal (https://eportal.incometax.gov.in/iec/foservices/).
- Visit the e-Verify page.
- Select the ‘Through Net Banking’ option. Click on ‘Continue’.
- Select the bank through which you want to verify your returns and click on ‘Continue.
- A disclaimer will pop up. Read it carefully and click on ‘Continue’. (After doing so, you will be taken to the net banking page of your selected bank account).
- Enter your net banking user ID and password to login to your net banking.
- Tap on the link to log in to your e-Filing from the website of your bank. (After this step, you will be logged out from your bank’s page and logged in to the e-filing website.)
- Once you are logged in, you will be led to the e-Filing dashboard.
- Click on ITR and e-Verify. With this final step, your ITR will be e-Verified successfully.
Note: After successful verification, you will find a transaction ID displayed on your screen. Make sure to jot it down for future purposes. A confirmation message will also be sent to your mobile number and email ID registered on the e-Fling website.
Also Read: Types of ITR Forms
Benefits of e-Verifying your income tax return via Net Banking
Here are the key benefits of e-Verifying tax returns using the net banking method:
- Convenience: The traditional method of return verification involves visiting a tax office jam-packed with people. This makes the whole procedure tiresome and time-consuming. On the contrary, e-Verification of ITR lowers the stress for taxpayers by aiding them to file their tax returns while sitting comfortably in their homes.
- Reduced Errors: Manual return verification has loads of complexities and human intervention, which increases room for errors. With e-Verification methods, you can limit this discrepancy to a great extent.
- Easy Access to Documentation: E-Verification of ITR prompts the user to issue the essential documents. Therefore, this creates a database that users can access whenever they want. No such facility exists in the manual return verification process.
- Quicker Processing: E-Verification through net banking helps you speed up the processing of your tax return. It lets the income tax department process your return faster, leading to quicker refunds if valid.
How to Know if the Return is Verified?
After e-verification, you receive a confirmation message on your registered contact number and email ID. However, you can still confirm the verification status from the official site to cross-check. All you need to do is fill up your PAN, acknowledgement number and the displayed captcha in case of e-verification.
Other Ways to E-verify Your ITR
Here is a list of other ways with which you can e-Verify ITR:
- EVC (Electronic verification code)via bank ATM (offline choice)
- EVC via bank account or demat account
- Digital Signature Certificate
- Aadhaar OTP
Now that you have understood how to e-Verify ITR through net banking, we hope it will be easy for you to file your ITR. The net banking steps might vary depending on your bank’s net banking website and the tax authority’s provisions in your country. E-Verification of returns is an integral part of income tax return filing. Once you’ve filed your return, you must verify it within a month. If you fail to verify it timely, your ITR will be considered invalid. A revised return should be filed if you fail to e-Verify your return within the specified timeframe.
