In ITR-V form we have to pay some amount of money in form of Income Tax under act of 1961. This is also known as income Tax returns.
What is ITR FORM:
It is form of tax that is filled by an assesse to register income about he earned by person. Assesse is a name given to person who pays tax to government against any kind of losses suffered by him.
Types of ITR form:
Types are mainly classified on type of individual persons who pay income to income and it is divided in to 7 types.
Benefits of ITR form V document:
It helps in getting loan from any bank easily like house loan, car loan
It helps in getting visas very quick
He has to pay ITR form in case he get any refund
This helps in addressing your id as address proof
Penalty will be done if filling is after time
Application is filled online and it contains digital signature and used to check income tax returns
ITR-v form downloading:
One can download te ITR form by using following steps
Log in to income tax official website and click on view forms and see e-filled application
By clicking acknowledgement you can download ITR-V form
Password for downloading document is your PAN card number along with your date of birth
Submission of ITR-V to CPC in Bangalore:
Person whose is going to fill application should have ITR-V form and payer should put sign in acknowledgment letter and this is sent to Bangalore after sending document tax filling is completed and it will come in 120 days after filling income tax return.
At present the ITR E-filing Verification is done and verification of the submitted return document is done in online mode with OTP mode to registered email or mobile number.