The last date for filing Income Tax Return (ITR) for Assessment year 2019-20 has been extended by Income Tax department to August 31, 2019
However, taxpayer can claim refund of tax, if any after filing the return of income and completing the verifying process. One should not forget to verify the return within 120 days.
Income tax department process your return only after verifying your ITR Form. In order to claim your refund, there are few alternatives to get your refund money as per your convenience:
- Aadhaar OTP:Once you have filed your ITR, you can verify it with Aadhaar. It is to be noted that your mobile number and Aadhaar should be linked.
For verifying the returns, you will receive an OTP on your registered linked mobile number. After submitting this OTP on the E-filing portal, your return will be verified and refund shall be proceed accordingly.
- NetBanking: For verifying ITR through NetBanking, one need to login at his bank’s website. There is an e-Verify option under the Tax tab.
Once clicked, it will automatically direct you to the Income Tax Department’s website. Here you will get the option of Generating EVC. After clicking on this, you will receive a 10-digit code on your mobile and email. You can use this code to verify the returns.
- Demat Account:In case If you are a stock market investor with a Demat account, you can easily verify your returns.You are required to log in to your Demat account and enter the details like your mobile number, email id, etc. After this, you can verify using Aadhaar.
Note: The entire process may take up to 1-2 hours to verify the return.
- Bank ATM: The Income Tax department provides the option of generating an Electronic Verification Code (EVC) through ATM. Once you insert your ATM card and PIN code, an e-filing option appears on the screen of the ATM, by clicking the same an EVC Code shall be sent to your registered mobile number.
This EVC code shall be used to verify your return.
- Sending the form to Income Tax office, Bengaluru: After filing return on E-filing portal, an acknowledgment is generated (i.e. ITR-V), you can print it, signed the form and send the form IT department headquarters in Bengaluru within 120 days of the filing of the return.