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New mode of verification for I-T return

Currently people who have income of over Rs 5 lakh need to e-file their income-tax return.

New Delhi: Tax payers can now verify their e-ITRs through bank account-based validation system if they don’t have Aadhaar number or internet banking facility as part of the government’s measure to enhance the paperless regime of filing the annual IT returns.

Currently people who have income of over Rs 5 lakh need to e-file their income-tax return. Previously tax payers had to send through post signed printout of the IT return (ITR-5) to Centralised Processing Centre in Bengaluru for verification if they didn’t have Digital Signature Certificate.

Then in order to facilitate the tax payers, income-tax allow-ed them to verify returns online through their Aadhaar number or internet banking facility. Those who verified their returns through Aadhaar number or internet ban-king facility need not send ITR-5 to CPC.

( Source : Deccan Chronicle. )
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