Income Tax Return acknowledgement or Verification form is a one page acknowledgement slip generated when a taxpayer files his annual tax return online.
While uploading your income tax return, you will have following options to choose;
- To e-verify your return by using your net banking account or by validating bank account details or by using Aadhar based OTP; or
- To use digital signature certificate or DSC
If you have used your DSC or e-verified while uploading, then acknowledgement copy will be generated with details of IP address, date of filing and other details of filing at the bottom of the form. You need not send the signed income tax acknowledgement copy to Bangalore office as verification is already done.
If you have not used any of the above method to e-verify the tax return, then the Income tax return -verification form (i.e. popularly known as ITR-V) will get generated. You are required to take a print out and send the singed copy to CPC, Bangalore by Ordinary Post/Speed Post.
Taxpayer need to sign Income Tax Return – Verification form in blue ink
The signed income tax acknowledgement copy or ITR V should reach CPC office within 120 days from the date of uploading the tax return, failing which the return will be treated as invalid. Address of CPC has been provided at the end. Please remember, you cannot courier it.
If you are taking help of a income tax return filer or chartered accountant, then make sure you have got the one page acknowledgement on your registered email. In case, you have not received it, then login to your income tax account and download it. After log-in to your account, you can see it under ‘My Account’ tab.
Ideally, you should use your own email ID and mobile number at the time of registration and in your tax return. If its not yours, then you will not be receiving confirmation email from the Income Tax department on filing your return.
By keeping your own email ID and mobile number with the Income tax department, you can keep track of important communications.
If you can not file your own tax return, we suggest you to choose a trustworthy organization to do it on your behalf. However, in these type of situation, we suggest you to make sure that the password is with you and all important details are sent by the tax department to your registered email-ID and mobile number.
Use of Income Tax Return Acknowledgement or ITRV
Income tax return acknowledgement verification form or ITR-V is an important document as it elaborate your taxable income along with tax deducted, paid and deduction claimed.
You can use it for following purposes;
Loan Processing
While applying for vehicle loan, housing or any other loan to a bank, the first thing bank asks is a copy of your tax return. You need to submit your tax return filing acknowledgement copy or ITR-V to the bank.
By producing these copies you can strengthen your loan eligibility.
Visa Processing
If you are planning to travel overseas, we suggest you to keep at least 3 years Income tax return filing receipts with you as foreign consulates may ask you to furnish it for last couple of years at the time of the visa interview.
Buying Insurance
To buy a high value life cover term plan, insurance companies are generally asking for last three years Income Tax Retrun receipt or acknowledgment to assess your actual income. Based on your income, your life cover will be calculated.
Government Tender
To confirm the financial status of your business or company, government agencies are asking for income tax return receipts for a minimum period of three financial years.
In addition to above requirements, you will also be required to produce Income Tax Return receipts in all those cases where proof of your financial income is required.
Address of CPC Bengaluru office:-
Income Tax Department – CPC, Post Box No – 1, Electronic City Post Office, Bengaluru – 560100, Karnataka, India.
Link to check ITR-V receipt status online.
