E-filing: Bank account based validation facility activated

New Delhi:  The Income Tax department launched the bank account-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless regime of filing the annual IT returns.

"Now, Electronic Verification Code (EVC) can be generated by pre-validating your bank account on the e-filing website,"
the department said in a public advisory.

Representational image.

Representational image.

It added that Punjab National Bank (PNB) is the first bank to do so and other banks are also "expected to launch

this facility" for those taxpayers who have not availed e-banking facility.

The facility will be available on the official e-filing portal of the department- http://incometaxindiaefiling.gov.in/ and will work by using the One Time Password (OTP) verification system as activated by the the tax department last year by using the Aadhaar number.

These measures are used to validate the e-ITR so that the taxpayer does not take the trouble of sending the paper-based ITR-V by post to the Bengaluru based Central Processing Centre (CPC) for final resolution and processing.

The new ITRs have been notified recently.

ITR-1 can be filed by individuals having income from salaries, one house property and from other sources including
interest. ITR-2 is filed by Individuals and HUFs not having income from business or profession. ITR-2A is filed by those
individuals and HUFs who do not have income from business or profession and capital gains and who do not hold foreign assets.


Updated Date: May 06, 2016 17:34 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See