Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: empanelment :: cpt :: VAT Audit :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd
 
 
« General »
 Why consumers should welcome GST
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert

Filed your income tax returns? Go ahead and e-verify I-T
August, 19th 2015

There seems to be a general aversion towards e-verification of returns, a process introduced this year by the Income Tax Department that makes tax-filing fully paperless.

Till last year, if you did not have a digital signature, you had to send a copy of the ITR V to the Central Processing Centre in Bengaluru.From this year, the tax department has introduced an alternate way of paperless e-filing via Electronic Verification Code (EVC). The 10-digit EVC code can be generated through your net banking account, linking your Aadhaar card, using ATMs or even by registering your email or mobile number on the income tax website. However, there seems to be a general aversion to e-verifying among taxpayers.

According to the income tax department's website, among the total 62.19 lakh returns files, only 12.8 lakh taxpayers have used the e-verification route so far. "The method is not complicated and most of the taxpayers who e-file are tech-savvy. So, there seems to be a lack of awareness," says Sudhir Kaushik, Cofounder and CFO of Taxspanner.com.

Here are the various ways in which you can generate the EVC.

REGISTER E-MAIL

The taxpayer can generate an EVC by login into the income tax e-filing website--http:www.incometaxindiaefiling.gov.in. However, this mode can be used only if the total income, that is before applying any deductions, is Rs 5 lakh or below and there is no refund claim. After you log in and opt for e-filing, you can request for the code by clicking on the "Generate EVC" option. The site will ask you to choose between--e-filing OTP or EVC through Net banking. Click on the former and a one-time-password (OTP) will be sent to your mobile number or registered e-mail ID. Use this code under the e-verify option given on the site and complete your tax-return process.

NET BANKING

If your total income is more than rs 5 lakhs or if there is refund, you have only one option--EVC through net banking. When you select this options, you'll be redirected to a page with the list of banks available for net banking Login. If your bank has authorised by the income tax department for providing direct access to the government's e-filing website, the name should be here and you should be able to log in using your internet-banking ID and password.Also, your PAN must have been validated via KYC. The EVC will be sent to your bank-registered mobile number. "This will be a big relief to NRIs who do not have digital signatures and faced a lot of problem with mailing physical ITR-Vs," says Preeti Khurana, Chief Content Editor, ClearTax.in.

Filed your income tax returns? Go ahead and e-verify I-T

Some banks have been registered for generating EVC using your debit or credit card via ATM machines.However, the channel seems to be not working. This is also not the best way and the net banking route is much simpler.

AADHAAR NUMBER

For this, your Aadhaar card and PAN should be linked. If the two are not linked income tax department's website show a pop-up and you simply have to fill in your Aadhaar number on the redirected page to link the two. Once linked, an OTP will be sent to your registered mobile number which is valid for next 10 minutes.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions