THE PLAYLIST COVERS ALL PRACTICAL CASES OF ELECTRONIC VALIDATION USING AADHAR /NETBANKING/REGISTYERED EMAIL ID AND MOBILE NUMBER (ALL REAL CASES )
PLAYLIST LINK Link -
https://www.youtube.com/playlist?list=PL_16BSQMjAHNEhELg9puVMO7Fox4TG3Ka&action_edit=1
Recently, 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 !
Here's a excerpt of the importance of Electronic validation
"Now, there is an easy way to electronically verify the ITR instead of having to send the ITR-V to CPC by post. Over 7.31 lakh taxpayers have e-verified their ITR and the number is growing each day as the convenience of the end to end electronic process is being realized by taxpayers. Please note that the option of sending the ITR-V to CPC is also available in case there is any difficulty in using the e-Verification facility."
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
WHAT I DO IS USING LIVE CASES SHOW ELECTRONIC VALIDATION FOR EACH SUCH CASE TO MAKE THE SUBJECT EXTREMELY CLEAR
KNOWING HOW IMPORTANT IT IS , THIS WAS DONE WITHIN 1 DAY OF EVC LAUNCHING !
Case (1) Using registered email and mobile address method ( SEE LIVE TUTORIAL)
This is possible only when total income is below 5 lakhs and there is no refund case.
Here, assessee can have the EVC delivered to his/her registered email address and mobile number
Once return validated , the acknowledgement that is generated is not required to be sent to the department
Case - (2) Using Aaadhar card.(( SEE LIVE TUTORIAL) )
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 adn send that to the department
Case (3) - Using net banking ( SEE LIVE TUTORIAL)
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 , that's practically it
The validation is complete and you can download the validated acknowledgement right there !
Wonderful isn't it !
EACH PLAYLIST TUTORIAL ALSO HAS USEFUL ANNOTATIONS WHICH GUIDE YOU TO SOME IMPORTANT CONCEPTS !
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 !
DEVELOPED BY - AMLAN DUTTA - FOUNDER OF MAKE KNOWLEDGE FREE
Cheers,
Amlan Dutta
CAclubindia
