The Central Board of Direct Taxes on 29th May, 2020, vide the Notification No. 31/2020, notified the Income Tax Return (ITR) Forms for the Assessment Year 2020-21.
A modification is made in the Income Tax Return Acknowledgement (ITR-V). Until the Assessment Year 2019-20, the Acknowledgement reflected the Taxable Income and Tax Details after filing the Income Tax Return Form. Once the return was verified (by the prescribed modes), the mode and details of verification were added to the Acknowledgement.
However, for the Assessment Year 2020-21, The Taxable Income and Tax Details (Along with Dividend Distribution Tax Details and Accreted Income & Tax Details) will be reflected only after the Assessee verifies the Income Tax Return through the prescribed modes. Until the verification of the return, only the e-filing acknowledgement number along with Basic Details (Name, PAN, Section of Filing and Form Number) will be reflected.
The Prescribed modes of verification of the Income Tax Return are as follows:
- Signed Copy of the ITR-V to Centralized Processing Centre, Income Tax Department, Bengaluru – 560 500, by ORDINARY POST OR SPEED POST ONLY.
- Aadhaar OTP.
- Login to e-filing account through Net-Banking login.
- EVC obtained generated using Pre-Validated Bank Account/Demat Account.
- EVC generated through Bank ATM.
To view the ITR-V (Notified by CBDT) : CLICK HERE