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How to e- verify your return using Demat Account

Updated on: Sep 9th, 2022


6 min read

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Once you have successfully filed your income tax return, the next step is to verify it. The Income Tax Department starts processing your return when it is verified. The Income Tax department has given the option of verifying the return either electronically or physically (i.e by sending signed ITR-V to Centralized Processing Center (CPC) in Bangalore).

Latest Updates
The CBDT has reduced the time limit of ITR verification to 30 days (from 120 days) from the date of return submission. The new rule is applicable for the returns filed online on or after 1st August 2022. For the income tax returns filed up to 31st July 2022, the time limit for ITR verification remains 120 days.

The following are the ways for e-verifying the return online –

  1.      Aadhaar OTP
  2.      Net-banking
  3.      Bank Account
  4.      Demat Account

E-verification of the return is done by generating an Electronic Verification Code(EVC). The EVC is a 10 digit alphanumeric code which is sent to a registered mobile number to verify the identity of the taxpayer.

Steps to e-verify the income tax return using Demat  Account :

Step 1:
Visit the e-filing website and log in to your account. If you do not have an account, then first register yourself.

Step 2:
After logging in, select e-file>Income Tax return> E-verify return

Step 3 :
The following screen will appear. Select the return you want to e-verify. You can also enter the acknowledgement number to select the return.

Step 4:
Next step would be to ‘select the method of verifying the return’. Next, you will have to select one of the options from the list. Select the option ‘ Through Demat Account’.

Step 5:
Once you select the option and proceed, EVC will be generated and will be sent to your mobile number and email ID registered with your pre-validated and EVC-enabled Demat account. (make sure you have prevalidated and EVC-enable your Demat account).

Step 6:
Enter the EVC received on your mobile number and email ID registered with your Demat account in the Enter EVC textbox and click e-Verify.

Step 7:
On Pre-validation, a success message page is displayed along with a Transaction ID and EVC.
Please keep a note of the Transaction ID and EVC for future reference. You will also receive a confirmation message on your email ID and mobile number registered on the e-Filing portal.

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Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

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