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.
ITR V form is a document which you are able to receive when you file an income tax return in online portal by without using a digital signature of you. ITR V fullform stands for Income Tax Return Verification. It is a one page form which contains the basic details of your income tax return such as your name, PAN, filing status and a tax amount. You need to verify your income tax return by sending the ITR V form to the Income Tax Department
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.
Why do you need to verify your income tax return?
Verifying your income tax return is an important step for you to complete your filing process. This confirms that the information you have provided in your return is true and correct. It also helps the Income Tax Department to process your return and issue refunds, if any. If you do not verify your income tax return within 120 days of filing it, it will be considered as invalid and you may face penalties
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 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
How can you send the ITR V form to the Income Tax Department?
You need to send the ITR V form by ordinary post or speed post only. Do not use courier or registered post. You need to send the ITR V form within 120 days of filing your income tax return. You need to send the ITR V form to the following address:
Income Tax Department – CPC
Post Box No – 1
Electronic City Post Office
Bengaluru – 560100
How to Download ITR V
You can download the ITR V form from the official website of the Income Tax Department. Here are the steps to download the ITR V form:
- First of you have to official website Go to the [Income Tax e-Filing platform] and you should log into the portal using your credentials. Like your username and password.
- Then you have to Click on e-File option after that Income Tax Returns then Click View Filed Returns.
- After that you are able to Click on the option of download receipt which is actually an acknowledgement form.
- Then your form will be downloaded in PDF format for you.
How can you sign the ITR V form?
You need to sign the form in blue ink only. The signature should be clear and legible. Do not sign across the barcode or QR code on the form. The signature should match with the signature on your PAN card.
Submission of ITR-V to CPC in Bangalore:
Person whose is going to fill application should have 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 taxreturn.
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.
How can you print the form?
You can print the form using any printer. However you need to follow some guidelines while printing the :
- Use a white A4 size paper.
- Print the ITR V form in black ink only.
- Do not use any watermark or logo on the paper.
- Do not fold or staple the ITR V form.
How can you track the status of your ITR form?
You can track the status of your ITR V form on the Income Tax e-Filing platform. Here are the steps to track the status of your form.
- First of all you have to visit the official website and then Log in to the e-Filing portal using your credentials which are your Password and Username.
- Moreover you have to Click on the option which is e-File after that click on Income Tax Returns from there you need to View Filed Returns.
- Therefore you have to Click on View Details of the relevant assessment year.
- Finally you need to Check the status of your ITR-V receipt
What are the different statuses of your V form?
The status of your V form can be one of the following:
- Not Received: This means that your ITR V form has not reached the Income Tax Department yet.
- Received but defective: This means that your ITR V form has some errors or defects, such as missing signature, wrong barcode, etc.
- Received: This means that your ITR V form has been receive by the Income Tax Department and is under processing.
- Processed: This means that your income tax return has been processed by the Income Tax Department and you will receive an intimation under section 143(1) of the Income Tax Act.
Q:Can I Download V Form Online
Ans:Yes,You Can by following the above steps which are given by me.
Q:What is the last date to Submit the Application
Ans: The Application Should Submit On or before 30 Days
Q:What documents required to submit with V form
Ans:There is no documents required to submit along with ITR v form