An income tax return once filed needs to be verified in order to be considered as valid for further processing by the income tax department. Previously, the process of verification of the return entailed taking a print of the ITR-V (return filing acknowledgement), signing it and sending the same to the Central Processing Centre (CPC) in Bangalore.
To ease the verification process, the government has introduced 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 SBI account, follow the steps in the attached guide.
Step 1: For verification of the return form using net banking, log in to your SBI net banking account using your net banking login credentials.
Step 2: There is a tab related to income tax filing on the home page.
Step 3: On selecting the e-verify option, the page will be redirected to the government e-filing portal.
Step 4:You will be taken to the e-filing dashboard on successful login. Go to the respective ITR/Form/Service and click on ‘e-Verify’. Your ITR/Form/Service will be e-verified successfully.
On successful e-verification, a message will be displayed with the transaction ID. On your registered email ID and mobile number, you will receive a confirmation message of e-verification.
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.