Click it and Unblock the Notifications
For Quick Alerts
For Daily Alerts
Just In
Don't Miss
-
Pukaar Dil Se Dil Tak Promo: Sayli Salunkhe Impresses In First Video Of Sony TV Show, Details About Her Role -
Who Won Yesterday's IPL Match 34? LSG vs CSK, IPL 2024 on April 19: KL Rahul Stellar Batting Show Decimate Chennai Bowling -
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Golden Rules To Follow For Happy Marriage For A Long Lasting Relationship -
Exam Pressure Does Not Exist; Studying Punctually is Crucial; Says Aditi, the PSEB 2024 Topper -
Suzuki Swift Hatchback Scores 4 Star Safety Rating At JNCAP – ADAS, New Engine & More -
Dell Introduces AI-Powered Laptops and Mobile Workstations for Enterprises in India -
Journey From Delhi To Ooty: Top Transport Options And Attractions
New Rules: How to use One Time Password (OTP) to file Income Tax Returns
Bengaluru, July 14: The Income Tax (IT) Department on Monday, July 13 made a few crucial announcements regarding the new procedures of filing Income Tax Returns (ITR).
As it was reported earlier, the IT Department on Monday launched its ambitious One Time Password (OTP) based e-filing verification system for taxpayers.
These new measures would completely eliminate the need of sending the paper acknowledgement, called ITR-V, through post to the I-T Central Processing Centre (CPC) based in Bengaluru.
How to use the OTP to file ITR:
- Taxpayers can use OTP to file Income Tax Returns (ITR) while using internet banking, Aadhaar number, ATM and email.
- Taxpayers can straight away generate the 'Electronic Verification Code' (EVC) for e-filing.
- They can validate their Income Tax Return (ITR) through their registered mobile number and e-mail id with the department.
- Once logged in on the banking portal, the taxpayer will be sent the EVC to his mobile number provided in the official e-filing web portal of the department which they will put in their ITR for final submission.
- In the other options given, those taxpayers who have internet banking activated can do the e-verification of their ITR.
- "The facility will be available on the internet banking website and the verifier (taxpayer) will use this facility using internet banking id, login password and transaction password," the latest CBDT rules said.
Restrictions in the new rules:
- Taxman will prepare certain restrictions based on the concerned taxpayer's "risk criteria and profile" in a case-to-case basis.
- If IT Department has some adverse observation against the said PAN number with income less than Rs 5 lakh, he or she will not be allowed to do the verification directly through their email and mobile number alone.
- Such cases will have to go through the other established procedures in this regard like linkup through Aadhaar database, internet baking or via the ATM.
OneIndia
News
(With
agency
inputs)
Comments
