ITR Deadline: Want Your Refund Quickly? Don’t Skip This Last Step, Check Immediately

The process of submitting an income tax return to the Income Tax Department is known as ITR filing in India. Every year, Indian taxpayers must submit an income tax return (ITR), which lists their earnings and outgoings for the preceding fiscal year. The last step of finishing the work is the most crucial one to do in order to guarantee that your ITR is handled effectively and that you get the refund promptly, if one is owed to you.

Keep in mind that your ITR will be regarded as e-verified after you have finished the e-verification procedure. Since this stage is so important, it is seen as coming last in the ITR filing procedure.

ITR Filing Deadline

ITRs must be submitted by July 31, 2023, for the fiscal year 2022–2023. However, certain taxpayer groups, such as those who choose ITR-6, are permitted to submit their ITRs at a later date.

Through the Income Tax Department’s e-Filing platform, taxpayers may submit their ITRs online. They may also file their ITRs manually by mailing the Income Tax Department a physical copy of the ITR form.

The act of submitting an ITR has several advantages. Taxpayers who submit their ITRs on time, for instance, are entitled to a reimbursement of any overpaid taxes.

Once you log in to the ITR Portal, there are a number of processes that must be followed in order to begin submitting an ITR.

Start by compiling all of your financial records, including Form 16, pay stubs, bank statements, and other records that detail your income and outgoings.

There are seven various ITR forms that taxpayers might use, based on their income, sources of income, and other considerations. Choosing the correct ITR form is essential. You must choose the ITR form that is appropriate for you.

completing the ITR form completely, making sure to provide all necessary data. You must figure out your tax burden after completing the ITR form. Before you may submit your ITR, you must pay any taxes that you owe.

After all of these steps have been completed, ITR verification is the most crucial part of submitting an ITR. E-verification is another option that the IT department has added for your ITR. You may e-verify your ITR after you submit it to make sure it was handled properly.

The following are the steps for e-verifying an ITR:

Visit the Income Tax Department’s e-Filing portal at https://www.incometax.gov.in/iec/foportal/.
Use your user ID and password to log in.
Select “e-Verify Return” from the “e-File” menu by clicking on it.
Click Continue after entering your PAN, choosing the Assessment Year, ITR Acknowledgement Number, Mobile Number, and other information.
Decide the e-verification technique you wish to use.
To finish the e-verification procedure, adhere to the instructions.

What are the various methods for e-verifying returns?

You may electronically validate your returns using:

OTP sent to an Aadhaar-registered mobile phone, EVC created via a bank account that has been pre-validated, EVC generated using a demat account that has also been pre-validated, EVC obtained through an ATM (offline mode), EVC obtained through net banking, or Digital Signature Certificate (DSC).

How will you know when the e-verification process is finished?

If you are electronically validating your return:

You will get a success message and a Transaction ID.
Your email address on file with the e-Filing site will get an email.

Is e-verifying your return required?

No, e-verification is merely one way to confirm that your submitted ITR was accurate. You may use one of the following two techniques to confirm the ITR you filed:

Either electronically check returns or provide a hard copy of your fully signed ITR-V to CPC, Bengaluru.

Your ITR will be handled in accordance with ITD guidelines after you have finished the verification process.