How to check your tax return

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A phone call between two friends leads to a conversation about verifying the tax return

Akhila: I finished filling out my tax return a few days ago. Now he invites me to verify the return by filing the ITR 5 return. Why one more!

Karthik: Arrey! It’s not ITR 5, it’s ITR V – (Roman number), which is the acknowledgment form for filing your return. It should not be confused with ITR 5 which is the tax declaration to be filed by companies, associations of persons (PDO) and bodies of natural persons (BOI).

Akhila: OK! I thought I might give up, since my main job of filling out the return is done. Now tell me how to file this ITR V?

Karthik: If you want to do it manually, download the Acknowledgment Form or Form V from the Income Tax website. A copy of the ITRV, duly signed, should be sent to the Income Tax Department office in Bangalore. Note that it should only be sent by regular mail or express mail and not by courier.

Akhila: By the way, is there an option to do it digitally?

Karthik: Yes, you can also complete the verification process electronically. You can e-verify your tax return using either your net / Aadhaar OTP / bank account or by using an Electronic Verification Code (EVC) generated via bank account number or demat account number.

Akhila: How to do with the net banking option?

Karthik: Once connected to your net banking, you will find somewhere in the list of services provided by the bank, an e-verification option.

Once you have selected this, it will be redirected to the Income Tax portal where you will need to follow a few explicit steps, after which the electronic RTI verification will be performed.

Akhila: It’s simple. What about Aadhaar OTP step?

Karthik: It’s even easier if your Aadhaar number is linked to your PAN card. You can select the option – I want to generate Aadhaar OTP for e-Check my return, on the income tax website, while checking your returns.

You will get your OTP (One Time Password) on your registered mobile phone number which must now be entered to complete the electronic verification process of your tax returns.

Akhila: Is there a deadline to verify the return?

Karthik: In accordance with income tax laws, the RTI V must be verified within 120 days of the date of filing the RTI. Otherwise, the filed RTI will be considered invalid. Upon successful verification, the acknowledgment can be downloaded from the e-filing portal as proof of the completion of the RTI filing process.


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