Monday, May 14, 2012

What is ITR-V ? By whom, when ,where to send ? How to print, open ITR-V

on Monday, May 14, 2012

E filing of Income Tax return has already started for assessment year 2012-13 .ITR-1 (sahaj) and ITR-4S (sugam )  can now be uploaded on Income Tax e filing site.We also love e filing .But we should be very careful while filing online return as these are processed through computer ,sometime minor error may cost you a lot .So all data must be filled in prescribed manner with utmost care .

Read a complete Guide How to e file your Income Tax return 

Last year 1.64 crore person had filed their return online mode.But almost 10% return(15 Lakh) online income Tax returns were rejected due to non-filing of ITR-V. So it is most important to know more about ITR-V while filing Income Tax return online without digital signature.

What is ITR-V ? 

ITR-V (V here for verification) is  form for the taxpayers,is an acknowledgement cum verification form.

By whom it is to be used

Person who are not using digital signature while e-filing the Income Tax return have to print out ITR-V and send it to appropriate office within specified time .  

Time Limit For this form

Within 120 days of uploading the return on the ITD e-filing website.

Where it  is to be sent ?

The tax payer has to print and duly sign the same and send it to "Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka" by ordinary post or speed post only. Upon receipt of the ITR-V, the ITD will send an e-mail acknowledging the receipt of ITR-V to the email id entered in the return form. No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner. This completes the return filing process for non-digitally signed returns.

Other ITR-V related FAQ

What date should be provided in case 'Ancestral Date' is written on PAN Card ?

Answer: Kindly enter the date as 01/01/0001

Can I send the ITR-V to CPC by Registered Post

Answer: The tax payer has to send the duly signed copy of ITR-V to &qout;Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka&qout; within 120 days of uploading the return by ordinary post or speed post only.

What are other formalities to be done after I print ITR-V?

I have not received a copy of ITR-V in my mail id or the ITR-V received in my mail id is not opening, since it is a corrupt file. What should I do?

Answer: The assessee is adviced to login to the website using his userid and password and then go to My Account – My Return to get a copy of the ITR-V for the relevant assessment year.(check complete process here)

Can more than one ITR-V be sent in one envelope

Answer: Yes, any number of ITR-Vs can be sent in one enveloped. Caution has to be maintained that the bar code printed in the ITR-V does not get folded.

What is the password to open ITR-V

Answer: The password is a combination of PAN (in lower case) and DOB in ddmmyyyy format for e.g. for PAN : bcmps1106b and dob : 02/10/1980, the password should be entered as bcmps1106b02101980

8 comments: Post Yours! Read Comment Policy ▼
We have Zero Tolerance to Spam. Chessy Comments and Comments with Links will be deleted immediately upon our review.

  1. This comment has been removed by a blog administrator.

  2. hi
    my salary is lessthan one lakh is it necessary to pay ITR, now i want to apply for tourist visa, is this ITR is necessary or not?

    1. As per income tax act , return is not required if income is less than 5 lakh

  3. I have paid the income tax through online, to get the refund amount paid whether I have to file the IT return ???(Income <5 lakhs only)

    1. No need to file online return ,Means it is not mandatory .But pls note that if you file online then refund will be processed faster

  4. I've just filled up my Income Tax return file online where I've unintentionally entered my Email ID wrong. For this reason, I did not receive any confirmation & such things in my Email Account. My question is that will there be any more serious issue for the same or if possible, how can I rectify that error????

    1. Messages are being sent by ITax dept, on registered email id so don't worry . you can check /download itr-v after login

  5. Tax refund amount is more than that it has to be that is because while filling the details Gross income was mentioned mistakenly wrong so what needs to be done to get this corrected and by which mode of communication that this needs to be corrected