OTP-based ITR filing system for taxpayers starts on high note
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The Income Tax department's OTP-based ITR filing system for taxpayers has started on a high note with its portal electronically verifying over 7.5 lakh returns and linking over 11 lakh Aadhaar numbers with the PAN database.
The new e-filing system, enabled last month, allows online verification of a person's Income Tax Returns by using either Aadhaar number, internet banking, ATM or email. According to the rules notified by the Central Board of Direct Taxes last month, any taxpayer whose income is 5 lakh rupees or below per annum having no refund claims, can straightaway generate the 'Electronic Verification Code' for e-filing and validating their ITR.
These new measures would completely eliminate the need of sending the paper acknowledgement, called ITR-V, through post to the IT Central Processing Centre based in Bengaluru.
The new e-filing system, enabled last month, allows online verification of a person's Income Tax Returns by using either Aadhaar number, internet banking, ATM or email. According to the rules notified by the Central Board of Direct Taxes last month, any taxpayer whose income is 5 lakh rupees or below per annum having no refund claims, can straightaway generate the 'Electronic Verification Code' for e-filing and validating their ITR.
These new measures would completely eliminate the need of sending the paper acknowledgement, called ITR-V, through post to the IT Central Processing Centre based in Bengaluru.
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