When to Use Physical Verification (ITR-V)
ITR-V, also known as Physical Verification, is necessary when the Income Tax Return (ITR) has not been verified electronically or through a Digital Signature Certificate (DSC). There are several situations where physical verification is required, including when e-verification has not been completed using methods such as Electronic Verification Code (EVC) or DSC, when a DSC has not been obtained or chosen not to be used, or when the ITR has been filed in paper format.
After filing the ITR, an ITR-V (Acknowledgement) form will be received. This one-page document contains details of the ITR filed and must be printed, signed in blue ink, and sent to the Centralized Processing Center (CPC) through ordinary post or speed post within 120 days of e-filing the return.
The physical verification process confirms that the taxpayer acknowledges and confirms the information provided in the ITR and intends it to be treated as a valid submission. The ITR-V serves as proof of filing and verification.
It is crucial to complete the physical verification process within the specified timeframe; otherwise, the ITR may be treated as invalid, and the return may not be processed by the tax authorities. Once the CPC receives the physical ITR-V, the return will be processed, and the receipt will be acknowledged via email or SMS.
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