Income Tax News: Missing THIS One Step Can Result in Problems! Check Secret Weapon for Faster Tax Refunds

Income Tax News: For the fiscal year 2023–2024 (assessment year 2024–2025), income tax filing is now available! All taxpayers should take note of this important reminder and file their taxes on time. By submitting their Income Tax Return (ITR), salaried persons who have had 10% of their income withheld for TDS can also request a refund.

With only a few simple steps, you can file your ITR simply. However, there’s an important note for first-time taxpayers, just filing your return won’t ensure a prompt refund. One additional crucial step is e-verification!

E-verification for Income Tax Payers

After e-filing your ITR, e-verification is essential to ensure it’s considered complete. Without this final step, your refund gets stuck in processing limbo.

The good news is, you have a comfortable window of 120 days to complete e-verification from the date of filing. However, don’t wait until the last minute! The sooner you verify, the sooner you can expect your refund.

Multiple Ways to E-verify Your ITR

The Income Tax Department provides a number of easy e-verification options, including:

• Using an ATM, Demat account, or Aadhaar: This choice is ideal if you have a bank account with ATM capabilities that is linked to your Aadhaar.
• Net Banking: You can use your nett banking site to e-verify your ITR if you feel comfortable with online banking.
• A Digital Signature Certificate (DSC) can be utilised for e-verification by individual taxpayers as well as by businesses and tax experts.

E-verification Made Easy

Here’s a breakdown of the e-verification process on the Income Tax Department’s e-filing portal (https://www.incometax.gov.in/iec/foportal/):

1. Head to the e-filing portal and log in using your user ID and password.
2. Click on the “e-File” menu and choose the “e-verification” option.
3. Select your PAN number, assessment year, ITR filing receipt number, and mobile number.
4. Choose your preferred e-verification mode from the available options.
5. Complete the e-verification process based on your chosen method.
6. Upon successful verification, you’ll receive a confirmation message with a transaction ID.

E-verification is crucial for a speedy tax refund. Don’t miss out on your hard-earned money – follow these steps and get verified today!

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