The Income Tax (IT) Department on 13 July 2015 launched One Time Password (OTP) based e-filing verification system for taxpayers.
This OTP will help in ending the practice of sending paper acknowledgement, called ITR-V, through post to the I-T Central Processing Centre (CPC) based in Bengaluru.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Central Board of Direct Taxes (CBDT) in its notification said that any taxpayer, whose income is 5 lakh rupees or below per annum and has no refund claims, can straightaway generate the 'Electronic Verification Code' (EVC) for e-filing and validating their Income Tax Return (ITR) through their registered mobile number and e-mail id with the department.
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.
In the other options given, those taxpayers who have internet banking activated can do the e-verification of their ITR.
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.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 13 July 2015