Understanding ITR V and E-Verification

Rohit Mehra, a 32-year-old IT consultant in Bengaluru, recently filed his ITR 1 for FY 2024–25. After submitting his return online through the government portal, he needed to complete e-verification to make the return valid.

Scenario:

Rohit’s total income: ₹12,00,000 TDS deducted by employer: ₹1,20,000 Other deductions claimed: Section 80C (₹1,50,000)

After filing, Rohit received the ***ITR V* form** via email. This form is essential for e-verification if filing is done via offline or non-Aadhaar methods. He could either verify online via Aadhaar OTP, net banking, or send the signed ITR V physically to CPC Bangalore.

ITR V Example Table

Steps for ITR V Verification:

1. Receive ITR V: After filing, an ITR V is emailed.
2. Choose Verification Mode: Aadhaar OTP, Net Banking, Bank Account, Demat, or Physical submission.
3. Submit or Send ITR V: E-verify online instantly or sign and send to CPC Bangalore.
4. Track Refunds: Once verified, refunds are processed automatically.

Chart: Filing vs Verification

Key Takeaways:

• Filing alone is not enough; ITR V verification validates your ITR.
• E-verification is faster and safer than physical submission.
• Correct e-verification ensures timely refunds.

For anyone looking for simplified, error-free tax filing, I highly recommend you download the TaxBuddy mobile app to file, verify, and track your ITR efficiently with a seamless mobile-based experience.

FAQs

Q1. What is ITR V? ITR V is an acknowledgment form issued after filing your income tax return when filing offline or without e-verification. It’s required to validate the return.

Q2. How do I verify ITR V? ITR V can be verified online using Aadhaar OTP, net banking, bank account, demat account, or by sending a signed physical copy to CPC Bangalore.

Q3. Can I skip sending the ITR V physically? Yes, if you complete online e-verification using Aadhaar, net banking, or other available modes, sending ITR V physically is not required.

Q4. Does TaxBuddy help with ITR V verification? Yes, TaxBuddy guides users through the e-verification process and ensures that your ITR is fully validated.

Q5. How long does it take for the refund after ITR V verification? Refunds are usually processed within 15–20 days after e-verification, depending on the bank and tax department processing times.

Q6. Is ITR V required for ITR filed via TaxBuddy? No, if you file via TaxBuddy with complete e-verification online, ITR V is not needed physically. The app handles verification seamlessly.

Q7. Can freelancers use ITR V for verification? Yes, freelancers can file their returns and use ITR V if they choose non-e-verification methods. Online e-verification is faster.

Q8. Can I verify my ITR after 30 days? Yes, you can verify ITR V within 120 days from filing. After this, the return is considered invalid.

Q9. What happens if ITR V is not submitted or verified? Your return will be treated as invalid, and you may need to file a revised return to avoid penalties.

Q10. Can I track my refund using TaxBuddy? Yes, the TaxBuddy mobile app provides real-time refund tracking and notifies users about any pending actions.