Recently Ministry of Finance has proposed a new way of submitting income tax e-returns for those who file online income tax returns without any digital signature. The tax payers who do not have any digital signature they compulsorily need to submit their income tax e-filing acknowledgement i.e., ITR-V Form to CPC, Bangalore by post after signing the ITR-V Form. The new proposal is to eliminate this practice which many e-filers find troublesome. Ministry of Finance has proposed to introduce secret electronic PIN number for every e-filers who does not have digital signature.
In the month of June 2013 this news has spread over so many news papers and TV channels which have created confusions in the minds of so many taxpayers that whether this procedure is applicable for this Assessment Year 2013-14 relating to the financial year 2012-13.
In regard to this, tax payers must know that this is just a proposal still now and it would not be applicable for this assessment year 2013-14 in any way. An amendment to the Information Technology Act would be needed to introduce electronic verification of online income tax returns in India. Thus tax payers who are e-filing their income tax returns for the assessment year 2013-14 relating to the financial year 2012-13 must have to send their ITR-V Acknowledgement Form within 120 days of filing their income tax returns.
ITR-V Acknowledgement Form for e-filing income tax return:-
When you e-file your tax return, you receive an acknowledgment email from the Income Tax Department in your inbox. This acknowledgment is a 1-page PDF file called ITR-V (ITR Verification). You have to sign this ITR-V in BLUE INK and mail (normal post or speed post only, courier is not accepted) it to ‘Income Tax Department – CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka, India.’ The password of ITR V is your PAN number in lower case, followed by your date of birth in DDMMYYYY format (abcde1234addmmyyyyy).
Consequence of not sending ITR-V Acknowledgement Form to CPC, Bangalore:-
If the same is not submitted by the due date, your return will be treated as invalid i.e. not filed. This could delay your refund, if any. Also, penalties for late/not filing can be imposed upon you. Therefore, you are advised to submit the signed copy of ITR-V at the earliest. Resend the more time, even if you have already sent as it might have been rejected by the income tax department.
As per the Income Tax Act following points need to be taken care with regard to ITR V submission, else it might get rejected:
1) Please use Ink Jet /Laser printer to print the ITR-V Form.
2) The ITR-V Form should be printed only in black ink.
3) Do not use any other ink option to print ITR V.
4) Use of Dot Matrix printer should be avoided.
5) Ensure that print out is clear and not light print/faded copy.
6) Please do not print any water marks on ITR-V. The only permissible watermark is that of “Income tax Department” which is printed automatically on each ITR V.
7) The document that is mailed to CPC should be signed in original.
8) Photocopy of signatures will not be accepted.
9) The signatures or any handwritten text should not be written on Bar code.
10) Bar code and numbers below barcode should be clearly visible.
11) Only A4 size white paper should be used.
12) Avoid typing anything at the back of the paper.
13) Perforated paper or any other size paper should be avoided.
14) Do not use stapler on ITR V acknowledgement.
15) In case you are submitting original and revised returns, do not print them back to back. Use two separate papers for printing ITR-Vs separately.
16) Please do not submit any annexures, covering letter, pre stamped envelopes etc. along with ITR-V.
17) The ITR-V form is required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post.
18) ITR-Vs that do not conform to the above specifications may get rejected or acknowledgement of receipt may get delayed.
How would I know whether signed ITR-V Form has received by CPC, Bangalore?
After receiving your ITR-V Acknowledgement Form if it is accepted by the Department then the Department will send you the intimation through mail and also sends text message to your mobile number. Use this query link of income tax department to find out whether the ITR-V sent by you has been received in CPC, Bangalore-
Check your ITR-V Status here
In the month of June 2013 this news has spread over so many news papers and TV channels which have created confusions in the minds of so many taxpayers that whether this procedure is applicable for this Assessment Year 2013-14 relating to the financial year 2012-13.
In regard to this, tax payers must know that this is just a proposal still now and it would not be applicable for this assessment year 2013-14 in any way. An amendment to the Information Technology Act would be needed to introduce electronic verification of online income tax returns in India. Thus tax payers who are e-filing their income tax returns for the assessment year 2013-14 relating to the financial year 2012-13 must have to send their ITR-V Acknowledgement Form within 120 days of filing their income tax returns.
ITR-V Acknowledgement Form for e-filing income tax return:-
When you e-file your tax return, you receive an acknowledgment email from the Income Tax Department in your inbox. This acknowledgment is a 1-page PDF file called ITR-V (ITR Verification). You have to sign this ITR-V in BLUE INK and mail (normal post or speed post only, courier is not accepted) it to ‘Income Tax Department – CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka, India.’ The password of ITR V is your PAN number in lower case, followed by your date of birth in DDMMYYYY format (abcde1234addmmyyyyy).
Consequence of not sending ITR-V Acknowledgement Form to CPC, Bangalore:-
If the same is not submitted by the due date, your return will be treated as invalid i.e. not filed. This could delay your refund, if any. Also, penalties for late/not filing can be imposed upon you. Therefore, you are advised to submit the signed copy of ITR-V at the earliest. Resend the more time, even if you have already sent as it might have been rejected by the income tax department.
As per the Income Tax Act following points need to be taken care with regard to ITR V submission, else it might get rejected:
1) Please use Ink Jet /Laser printer to print the ITR-V Form.
2) The ITR-V Form should be printed only in black ink.
3) Do not use any other ink option to print ITR V.
4) Use of Dot Matrix printer should be avoided.
5) Ensure that print out is clear and not light print/faded copy.
6) Please do not print any water marks on ITR-V. The only permissible watermark is that of “Income tax Department” which is printed automatically on each ITR V.
7) The document that is mailed to CPC should be signed in original.
8) Photocopy of signatures will not be accepted.
9) The signatures or any handwritten text should not be written on Bar code.
10) Bar code and numbers below barcode should be clearly visible.
11) Only A4 size white paper should be used.
12) Avoid typing anything at the back of the paper.
13) Perforated paper or any other size paper should be avoided.
14) Do not use stapler on ITR V acknowledgement.
15) In case you are submitting original and revised returns, do not print them back to back. Use two separate papers for printing ITR-Vs separately.
16) Please do not submit any annexures, covering letter, pre stamped envelopes etc. along with ITR-V.
17) The ITR-V form is required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post.
18) ITR-Vs that do not conform to the above specifications may get rejected or acknowledgement of receipt may get delayed.
How would I know whether signed ITR-V Form has received by CPC, Bangalore?
After receiving your ITR-V Acknowledgement Form if it is accepted by the Department then the Department will send you the intimation through mail and also sends text message to your mobile number. Use this query link of income tax department to find out whether the ITR-V sent by you has been received in CPC, Bangalore-
Check your ITR-V Status here
1 comment:
Thanks for sharing a useful information about income tax eFiling.Its very helpful for me.keep it up.
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