ITR E-Verification- The Income Tax Department has sent a notification to taxpayers for not completing the e-verification process. Taxpayers who have filed income tax returns but have not completed the e-verification process are considered incomplete filing by the Income Tax Department.
Therefore, it is important for every taxpayer to adopt the e-verification process after filing income tax returns. Those who do not do so may have to pay a heavy fine. How much fine can be paid for not completing the e-verification process and what is the process of e-verification? Let’s know about it.
Income Tax Return-e Verification Penalty
If you had filed ITR within the deadline of 31 July, but had not completed the e-verification process, then you may be fined. Actually, the process of e-verification has to be completed within 30 days of filing ITR. The more late you do the verification, the higher the fine you may have to pay.
Payment will have to be made with late fees
Late fees under Section 234F of the Income Tax Act can attract a penalty of Rs 5,000. However, for those whose income is less than Rs 5 lakh, the late fee is Rs 1,000. Taxpayers who have any tax dues will have to pay the due amount along with interest at the rate of 1% per month under Section 234A. The department starts calculating the interest from July 31, which is the last date for filing ITR.
Income Tax Return E-Verify Process Online
- First of all go to the e-filing portal and login .
- “E-Verification Return” option will be shown on the home page, click on it.
- Enter your PAN Card number and the 6 digit OTP received on your phone number.
- After pressing the submit button, click on the options shown below.
- If you want to verify after 30 days, click on “OK”.
- Please provide the reason for late verification in the dropdown menu.
- Select the option from the list of e-verification and then the process will be completed.