Electronic Verification Code and its role in tax filings

By | July 31, 2015

Home-Health-Agency-Electronic-VerificationIncome tax department recently launched a new facility for electronic verification of e- filing with one-time password called as Electronic Verification Code for income tax payers which will in turn replace the process of sending of paper acknowledgement ITR-V to the CPC Bangalore.

Now let us know about this EVC and how that helps the taxpayers as well as speedup the processing of income tax returns.

Click here to know the ways to generate EVC.

What is Electronic Verification Code?

Electronic verification Code nothing but a one-time password generated by the income tax department for verification of returns filed online. The tax payer will receive this EVC on registered mobile number. The EVC will be a 10 digit alpha-numeric number. The EVC is to verify the identity of the person who is furnishing the income tax return. The EVC is unique for an assessee PAN and not valid for any other PAN. One EVC can be used validate one income tax return irrespective of assessment year and type of return. The EVC is valid for 72 hours or as otherwise specified. Invalid, already used or unmatched EVC shall be rejected. As of now, any taxpayer, whose income is Rs 5 lakh or under every year and has no refund claims, they can directly generate the ‘Electronic Verification Code’ (EVC) for e-filing and validating their Income Tax Return (ITR).

How does it Electronic Verification Code Work?

Electronic Verification Code would verify the identity of the person furnishing the return of income and would be generated on the E-filing website. The EVC can be used by a verifier being an individual to verify his Income Tax Return or that of an HUF of which he is the Karta in Income Tax Return Form 1 2 2A, 3, 4 or 4S or the Income Tax Return Form filed in ITR 5 or 7 of any person accordance with Section 140 of the Income Tax Act. The EVC generation process may vary based on the risk-category of the Assessee, method of accessing the E-filing website or interface with third party authenticating the entity, said the CBDT press release. The EVC generate will be stored against the Assessee PAN along with the other verification details. The verifier can generate EVC multiple times and can be generated in multiple ways such as;

  1. The EVC can be generated by log in into e-filing site via net banking
  2. The EVC can be generated after Aadhaar authentication using Aadhaar One Time Password (Aadhaar OTP)
  3. The EVC can be generated using Automatic Teller Machine (ATM) of a Bank Where the EVC (Electronic Verification Code) is generated and sent to the Registered Email ID and Mobile Number of Assessee with E-filing Website.

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