What is EVC in Income Tax Return?

The Electronic Verification Code (EVC) is a secure and efficient method for verifying various transactions on the Income Tax Department's e-filing portal. It ensures the authenticity of e-filing activities, such as income tax return submissions, refund requests, and responses to notices. EVC can be generated through multiple channels, including net banking and demat accounts. As you might frequently encounter the term "EVC", it is essential to understand its different aspects. This article explores the key scenarios where EVC is required, how to generate it and its role in streamlining the verification process. IndiaFilings provides expert income tax services, ensuring accurate filings and hassle-free compliance for individuals and businesses! [shortcode_37]

EVC - Full Form & Overview

The EVC full form is the Electronic Verification Code. It is a 10-digit alphanumeric code sent to your registered mobile number, enabling secure electronic verification. EVC is primarily used to e-verify statutory forms, income tax returns, refund re-issue requests, and responses to notices. Additionally, it allows users to log in to the e-filing portal or reset their passwords. This convenient and secure verification method ensures the authenticity of transactions and protects sensitive information.

Benefits of EVC for Taxpayers

Here are the key benefits of using EVC (Electronic Verification Code) for taxpayers:

Convenience: EVC allows taxpayers to verify their returns and other transactions online, eliminating the need for physical submission.
Security: EVC ensures secure verification of income tax returns and other forms, protecting sensitive financial information.
Quick Verification: EVC provides an instant verification process, speeding up the completion of e-filing tasks without delay.
Cost-Effective: There are no additional charges for generating and using EVC, making it a cost-effective option for taxpayers.
Multiple Channels: EVC can be generated via various methods such as net banking, bank ATM, or demat accounts, offering flexibility to taxpayers.
Easy Access: Taxpayers can generate EVC conveniently from any location with internet access.

When is EVC required?

The Electronic Verification Code (EVC) is a secure method to verify various transactions on the Income Tax Department's e-filing portal. This service is exclusively available to individual registered users of the portal. The EVC is required in the following scenarios:

E-filing of Income Tax Returns: EVC is needed to authenticate and complete the process when submitting income tax returns online.
E-verification of Statutory Forms: EVC is necessary to verify statutory forms submitted on the portal.
Refund Reissue Requests: In cases where you request the reissue of your income tax refund, EVC is required to validate the request.
Responding to Notices: If you need to respond to any notices issued by the Income Tax Department, EVC is used to verify the response.
Login to the E-filing Portal: EVC is a secure login method to access your e-filing account.
Password Reset: If you forget your password, EVC serves as a verification tool to reset it.

How to Generate EVC on the New Income Tax Portal?

Generating an Electronic Verification Code (EVC) on the new Income Tax portal is simple and user-friendly. Follow these steps to generate your EVC successfully:

Step 1 - Log In to the Income Tax Portal

Visit the Income Tax e-Filing portal and log in using your User ID and password.

Step 2 - Access the Generate EVC Option

On the Dashboard, navigate to Services > Generate EVC.

Step 3 - Select PAN or TAN

On the Generate EVC page, choose the applicable option—PAN or TAN—and click Continue.

Step 4 - Choose the Method to Generate EVC

You will be prompted to select a preferred method to generate your EVC. Options may include a validated bank account, aadhar, net banking, Bank ATM, or demat account.

Points to be Noted:

Individual taxpayers can generate EVC for themselves and other PANs (excluding Companies) or TANs if they are the Principal Contact of the entity.
EVC can be generated for another PAN user if the individual is authorized as their representative.
Companies cannot verify their returns using EVC and must use a Digital Signature Certificate (DSC).
Linking PAN with the account used to generate EVC is mandatory.
If EVC is generated via a validated bank account, net banking, or bank ATM, the PAN must be linked to the same bank account.
If generating EVC via a Demat account, PAN must be linked to the corresponding demat

How to e-Verify Returns Using EVC?

Here are the brief steps to e-verify returns using an electronic verification code (EVC),

Log in to the Income Tax e-Filing portal using your credentials.
Navigate to the "e-Verify Return" option under the "Services" or "Dashboard" section.
Select the return you want to e-Verify and click the "e-Verify" option.
Choose the "Electronic Verification Code (EVC)" method.
Enter the EVC received on your registered mobile number or email and click "Submit."
A confirmation message will appear once the verification is successful.

Note: Once you verify through EVC, you are not required to send a physical copy of ITR-V to the CPC Bangalore office. Get the detailed step-by-step process: How to e-verify income tax returns using EVC?

What is the Validity of EVC?

The validity of an Electronic Verification Code (EVC) is 72 hours from the time of its generation. You cannot use the same EVC to verify other returns during the validity period. If you need to verify multiple returns or items electronically, a new EVC must be generated each time. This ensures secure and precise verification for every transaction.

Conclusion

In conclusion, the Electronic Verification Code (EVC) is essential for securely authenticating various transactions on the Income Tax Department's e-filing portal. It simplifies the process of verifying income tax returns, statutory forms, refund requests, and responses to notices, offering a convenient alternative to physical document submission. By understanding when and how to generate EVC and the associated requirements, taxpayers can ensure a smooth and secure e-filing experience. With IndiaFilings, receive expert assistance filing your income tax returns and effortlessly navigating tax regulations! [shortcode_37]

FAQ's

1. What is EVC in income tax?

EVC (Electronic Verification Code) is a 10-digit alphanumeric code used to authenticate various transactions on the Income Tax Department’s e-filing portal.

2. When is EVC required?

EVC is required for e-filing income tax returns, verifying statutory forms, refund reissue requests, responding to notices, logging into the e-filing portal, and resetting your password.

3. How can I generate EVC?

You can generate EVC through multiple methods, such as net banking, bank ATM, demat accounts, or Aadhaar-linked options, after logging into the Income Tax portal.

4. What are the benefits of using EVC?

EVC offers convenience, security, quick verification, cost-effectiveness, and multiple generation methods, making the e-filing process easy and efficient.

5. Is EVC valid for a limited time?

Yes, the validity of EVC is 72 hours from the time of generation. You need to generate a new EVC for each transaction if needed after this period.

6. How do I e-verify my income tax return using EVC?

To e-verify your income tax return using EVC, log in to the e-filing portal, select the return, choose EVC as the verification method, and enter the received code.

7. Can I use EVC to verify returns for someone else?

Yes, you can generate and use EVC to verify returns for someone else, provided you are authorized as the representative for that person or entity.

8. Can companies use EVC for e-verification?

No, companies cannot use EVC for verification; they must use a Digital Signature Certificate (DSC) instead.

9. What happens if I forget my password on the e-filing portal?

If you forget your password, you can use EVC to reset it and regain secure access to your e-filing account.

10. How do I ensure my PAN is linked to the correct account for generating EVC?

Ensure that your PAN is linked to the bank account, demat account, or net banking account that you use for generating EVC, as this is a mandatory requirement for verification.