EVC Income Tax, also known as Electronic Verification Code, is a unique code generated by the Income Tax Department of India to verify the authenticity of income tax returns filed online. It was introduced to make the income tax filing process more secure and convenient for taxpayers.
When filing income tax returns online, taxpayers are required to verify their returns within a specified time frame. Previously, this verification was done by sending a signed physical copy of the return to the Centralized Processing Center. However, with the introduction of EVC, taxpayers can now verify their returns electronically, eliminating the need for physical documentation.
EVC can be generated through various methods, including net banking, Aadhaar OTP (One-Time Password), bank ATM, and the Income Tax Department’s website. Once generated, the code can be used to verify the return online. It ensures that the person filing the return is the legitimate taxpayer and prevents the misuse of personal information.
Now, let’s address some frequently asked questions about EVC Income Tax:
1. How can I generate an EVC?
EVC can be generated through net banking, Aadhaar OTP, bank ATM, and the Income Tax Department’s website. The method may vary depending on the individual’s preference and availability.
2. Can I use someone else’s EVC to verify my return?
No, EVC is unique to each taxpayer and should not be shared with others. It is generated to verify the authenticity of your return, so it should be used exclusively by you.
3. Is EVC mandatory for all taxpayers?
No, EVC is not mandatory for all taxpayers. It is an option provided to facilitate the verification process. If you prefer to submit a physical copy of your return, you can continue to do so.
4. How long is the EVC valid?
The validity of an EVC depends on the method used to generate it. For example, an Aadhaar OTP-based EVC is valid for 72 hours, while an EVC generated through net banking is valid for 72 hours or until the return is successfully verified, whichever is earlier.
5. Can I generate multiple EVCs for the same return?
No, you can generate only one EVC per return. Once an EVC is generated and used for verification, you cannot generate another EVC for the same return.
6. Can I regenerate an EVC if it expires?
Yes, you can regenerate an EVC if it expires. Simply follow the same process you used to generate the initial EVC.
7. What if I forget to verify my return using the EVC?
If you forget to verify your return using the EVC within the specified time frame, your return will be considered invalid. You may have to file a revised return or take necessary steps to rectify the situation.
8. Is EVC applicable for all types of income tax returns?
Yes, EVC can be used to verify all types of income tax returns, including individual, HUF (Hindu Undivided Family), and corporate returns. It is a universal verification method provided by the Income Tax Department.
In conclusion, EVC Income Tax is a secure and convenient way to verify income tax returns filed online. It eliminates the need for physical documentation and ensures the authenticity of the taxpayer. Generating and using EVC is straightforward, and it provides an efficient method to comply with the income tax regulations of India.