Many individuals do file their income tax in the correct manner. However, there are errors at the final stage of verifying ITR filed.
There is a two step process for the purpose completing the income tax returns (ITR) filing process. The first step here is the act of ensuring that the investor logs into the online system and then submits the various details of their income for the year. The next one which is the important part is that this has to be verified and this is where a lot of people actually do not complete the task properly. Earlier there was a system of sending a physical acknowledgement to the income tax department and this often led to additional problems when it was not received effectively. Now the tax department has allowed online verification through a range of options and this has made the process very easy for the individual. Here is a look at some of the popular routes that the taxpayer can adopt for the purpose of completing this detail.
Digital signature Certificate
One of the most common ways to complete the online verification of the tax return is through the route of using the digital signature certificate. This is a fool proof route because of the fact that this clearly belongs to the person to whom it is issued and hence there is little question in terms of someone else using the details of an individual. There is now increased amount of security features that are available with a digital signature certificate and due to this reason the usage has become even more secure. Using this would not require any action and this has been present since quite some time so there is a long time period of experience for the individual too.
Aadhar number
A notable addition to the process of verification has been the Aadhar number of the individual. The spread of the Aadhar number has been significant and this is present with a large number of people. This makes the job simpler because at the time of the verification all that the individual has to do is to present the aadhar number that will be verified online by the tax department and this will be proof enough of the identity of the individual who is filing the tax return. This is an easy way to complete the entire process.
Bank account
There might be a lot of people who might not have the necessary Aadhar number but for them there are still some other choices that they can make use of. One of them is the bank account that they hold and since there is already the ‘know your client’ guidelines completed for the account it is also accepted for this purpose. The bank account details need to be given and these are then checked and this also means that if there is the facility of net banking then it could be utilised for the completion of the verification.
Mobile number and email
Two important areas that need to be kept under closer attention by investors are their mobile number and email id as second lines of use. These become important because while some of the other routes mentioned above might be used for the purpose of verification there is a good chance that some code or password would be sent to either or both of these areas. These would then need to be entered so that the details are verified and only then will the process be completed. This is like the last link in the entire chain and hence it also needs to be paid attention.
It has to be remembered that the submission of these details will lead to the checking of the records whereby there has to be a match between what is present in these accounts with that of the person who has filed the returns. Once this is verified then the returns are accepted.
