Indian Income Tax Rules
The Sub clause 3(iii) of Rule12 of the Indian Income Tax Act empowers an assessee to file his return electronically. He can file the return electronically without his digital signature. Once the return has been submitted successfully, the server of the income tax department will generate an ITR V duly filled with acknowledgement number with date of submitting the return. The assessee has to download two copies of the form.
The code number of the form and the status of the assessee is generated electronically and the figures recorded on the ITR V Form (item no 1 to 9) are filled on the basis of the data submitted by the assessee on filing the return electronically.
The assessee has to send the original copy of the form duly signed (preferably with a blue pen) to Post Bag No. 1, Electronic City Office, Bangaluru–560100 (Karnataka) and keep the second copy for his record.
When a return has been submitted electronically with the assessee’s own digital signature through an ERI (E Return Intermediary) who again submits the return to the Income tax department under his signature such return will be accepted by the department as if it was submitted under own signature of the assessee and under such circumstance no ITR V Form is required to be submitted and the date of data transmitted recorded on the document will be considered as date of submitting the return.
What Is Income Tax Return Verification Acknowledgement?
This is the name of a form that is sent to an assessee by income tax department when the assessee has successfully submitted his return electronically. He has to submit this form by post to an address mentioned above within 30 days.
The form begins with ITR Number. Then contains two parts, first part in A1 to A13 items is reserved for the particulars of the assessee like his full name, detail address, date of birth, PAN details, Income Tax ward and Circle number, etc.
The second part of the form has B1 to B14 items that to be filled with the details of the assessee’s income , deductions, loss, tax paid amount, advance Tax paid, TCS and TDS, Gross and Total Income, etc.
How To Check The Status of ITR V Form?
If you have filed your IT return electronically without a digital signature, can know online the status of your ITR V form posted. Here are the steps for you to follow.
Log in to “income tax indiaefiling.gov.in”
Put your Password and PAN number
Click the “My Account” menu
Select the status for E Filling
Choose the correct Assessment Year & Submit
The status of IT return will appear