Understanding the Income Tax Return Acknowledgement and its associated processes is crucial for taxpayers. This document, received after submitting the income tax return, serves as proof of filing and holds vital information about income and assets. Additionally, the Income Tax Return Verification (ITR-V) form plays a key role in the verification process, particularly for returns filed without a digital signature.
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What is Income Tax Return Acknowledgement?
Once the income tax return is submitted, the Income Tax Department sends a document called the Indian Income Tax Return Acknowledgement to your registered email. This document serves as proof of filing, and the tax submission process is considered complete upon confirmation of this acknowledgment.
This document, which verifies your income and assets, can be used for various purposes such as loan approvals, passport or VISA applications, and real estate transactions. It includes essential information like the ITR Form number, PAN, electronic filing acknowledgment number, and the section under which the ITR was submitted. Before sharing, make sure to remove any irrelevant details that don’t apply to you.
What is an ITR-V form?
ITR-V or Income Tax Return Verification Form is a single-page document that is received when an ITR is filed online without a digital signature. The income tax department sends ITR-V form through email to the taxpayers. Taxpayers can also download a copy of ITR-V from the income tax e-filing website.
An essential stage in completing the income tax filing procedure is ITR verification. Either physically or electronically, verification can be completed by sending a copy of the ITR-V acknowledgment that has been signed in “blue ink” to the Income Tax Department CPC, Bangalore.
ITR-V Submission to CPC in Bangalore still, they must publish a copy of the ITR-V form attained by email or the income tax portal, if the assessee manually verifies the income tax returns. The taxpayer should sign and keep the printed acknowledgment in an A4 envelope. Each envelope should contain only one ITR-V form.
Further than the signed ITR-V, no further documentation is required to be kept. After submitting the income tax return, the envelope needs to be addressed (no courier services please) to the CPC in Bangalore within 30 days. The Income Tax Department, CPC Post Box No. 1, Electronic City Post Office, Bangalore, 560 500, Karnataka, is the address to which you should send your ITR-V.
What are the things to know about ITR-V?
There are some important facts that you should know about filing, signing, and submitting ITR-V.
- Each envelope sent with the ITR-V includes only one form per taxpayer.
- The signed ITR-V form should be submitted within 30 days of filing your income tax returns.
- If the ITR- V form isn’t submitted moreover by submission to the CPC or by EVC mode or Aadhar OTP within 30 days from the date of filing the returns, Your ITR will be invalid (It means you haven’t filed ITR).
- The form should be printed in black and it should be easily comprehendible.
- A bar code and a number appear beneath your signature on the form, which you should sign in blue ink. It should be easy to view the digits and the bar code.
- You ought not to sign them.
- Use of a stapler should be avoided and the form shouldn’t be folded.
- The form should be an A4-sized and send in white envelope.
- The form should be sent through speed post or ordinary post and shouldn’t be couriered.
How to download ITR-V Acknowledgement Online?
Follow the below steps for the Income Tax Return Acknowledgement download;
- Step 1: Visit the official e-filing portal of Income Tax and Log in.
- Step 2: Click on “e-File, Income tax Returns, View Filed Returns”. On the coming screen, you’ll be able to see all the ITRs filed by you.
- Step 3: Choose the assessment year (AY) that you wish to download the ITR-V form.
- Step 4: Click on “Download Form”.
How to know the acknowledgment number of income tax returns?
To know the acknowledgment number of your income tax return, you can check the acknowledgment (ITR-V) document received on your registered email or download it from the e-filing portal. Additionally, you can also view the acknowledgment number by logging in to your e-filing account and navigating to the” view Returns Forms” section where you submitted your return.
What is the password for the Income Tax Return Acknowledgement?
The password to open the Income Tax Return Acknowledgement document is generally your PAN (Permanent Account Number) followed by your date of birth in the format DDMMYYYY.
For example: If your PAN is ABCDE1234F and your date of birth is January 1, 1990, then the password would be ABCDE1234F01011990.
However, it’s essential to note that password formats may vary based on the tax authority’s guidelines, so it’s judicious to check for any specific instructions provided.
Conclusion
In conclusion, the Income Tax Return Acknowledgement is a document obtained upon the successful electronic filing of an income tax return, verifying the submission with crucial details like the acknowledgment number and form date.
Taxpayers must adhere to guidelines such as timely submission within 30 days, careful handling to preserve the integrity of the document, and the use of correct passwords for accessing the acknowledgment. Understanding these aspects not only ensures compliance but also facilitates a smooth and successful income tax filing experience.
Consult 24efiling seeking expert assistance for a smooth and hassle-free filing experience of your Income Tax Returns-4.
FAQs
1. What is an Income Tax Return Acknowledgement?
An Income Tax Return Acknowledgement is a document received after successfully e-filing an income tax return. It confirms that the return has been filed with the tax authority and includes essential details similar to the acknowledgment number and date of the form.
2. How can I obtain my Income Tax Return Acknowledgement?
You can obtain your Income tax Return Acknowledgement by downloading it from the e-filing portal after successfully filing your return. Also, it’s generally sent to your registered email address provided during the e-filing process.
3. What information does the Income Tax Return Acknowledgement contain?
The Income Tax Return Acknowledgement typically contains details similar as the acknowledgment number, date of filing, taxpayer’s name, PAN (endless Account Number), and address. It also includes information about the tax outstanding or refund due, if applicable.
4. Why is the Income-tax Return Acknowledgement important?
The Income tax Return Acknowledgement serves as proof that you have filed your income tax return with the tax authority. It’s essential for different purposes, including claiming tax refunds, applying for loans, and resolving any discrepancies with tax authorities.
