How to E-Verify Income Tax Using SBI NetBanking

As a resident of India, handling your income tax filings can be a rather straightforward process with the help of online banking tools such as SBI NetBanking. Here's a step-by-step guide to e-verify your income tax using this platform:

Step-by-Step Guide to E-Verify Income Tax

Log in to your SBI net banking account.

Select the “Tax” tab from the home page.

Click on “TDS Certificate”.

Enter your PAN number and select the relevant financial year.

Click on “View Certificate”.

Your TDS certificate will be displayed on the screen.

Once you have this certificate, you can proceed to file your income tax return (ITR) and e-verify it using the Electronic Tax portals provided by the Indian government.

Directory for Filing and E-Verification

For those who file ITR-1 (Individual Assessment stated to be of the income computed under the head ‘Salaries’), you can opt to prepare and submit online without the need to download any Excel software utility. Here's how:

Verification of ITR

The last step of the ITR filing process is verification, a crucial one. There are 6 ways to verify your ITR: 5 electronic methods and 1 physical verification method.

For electronic verification, you will not be required to send any documents to the tax department. You will receive confirmation from the tax department immediately via email. The email will be sent to the email address registered in your e-filing account on the income tax department’s e-filing website.

However, if you prefer to verify your return physically, you will need to send a duly signed copy of ITR-V/Acknowledgement to the office at:

CPC Post Box no. 1, Electronic City Post Office, Bangalore- 560100, Karnataka, India.

Note that after filing your ITR, you have 120 days to verify it. If you do not verify your ITR within this period, it will be deemed as non-filing. In case you miss the deadline, you can file a request with your assessing officer.

E-Verification Acknowledgement

If you verify your ITR through an electronic method, you will receive immediate confirmation from the tax department. If you send ITR-V via post, the IT department will acknowledge receipt and notify you of the verification status via email.

IT Department Processing of Return

After your return is verified (either via e-verification or physical verification), the IT department will process your tax return. If any discrepancies are found, they may ask for further clarification or corrections to the original filing.

You will be notified of the processing status via email to the registered email ID. The entire process is designed to ensure accuracy and efficiency in tax filing and verification.

Conclusion and Final Thoughts

With the advancements in technology, the process of income tax verification using SBI NetBanking and online filing has become more streamlined and convenient. By following these simple steps, you can ensure that your ITR is filed and verified with minimal hassle. Stay informed and make use of these resources to manage your tax obligations effectively.