An income tax return once filed, requires to be verified in order to be considered as valid and to be processed by the income tax department. Previously, the process of verification of the return entailed taking a print of the ITR V (return filing acknowledgment), signing it and sending the same to the Central Processing Centre (CPC) in Bangalore.
To ease the verification process, the government has notified new modes via which you may electronically file and verify your returns. Your return can be verified by generating an Electronic Verification Code (EVC). EVC is a 10 digit alphanumeric code and is unique to a PAN. One EVC code can validate only one return, so if you revise your return, you have to generate another EVC. If you verify your return via EVC, you are not required to send the physical ITR-V to CPC.
To e-verify using your Kotak Mahindra bank account, follow the steps in the attached guide.
For verification of return form using netbanking, login to your netbanking account using your net banking login credentials. There is a tab related to income tax filing on the home page. On selecting the e-verify option, the page will be redirected to the government e-filing portal. Clicking on my account on the e-filing page will generate the EVC which will be sent to your registered email ID and registered mobile number. Using the EVC you may e-verify your income tax return.
Prior to using this verification mode, you must ensure that your bank is authorised by the income tax department for providing such facilities.
The steps for every bank vary from one another.