The Income Tax department has launched an ATM-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless regime of filing the annual IT returns.
"Now, Electronic Verification Code (EVC) can be generated by pre-validating your Automated Teller Machine (ATM) provided by the bank where a taxpayer has an account. While SBI has activated the facility beginning yesterday, other banks will follow soon," a senior IT official said.
Last month, the department had launched the bank account-based validation facility in this regard for those who have not availed internet banking facility.
The new facility is available on the official e-filing portal of the department- http://incometaxindiaefiling.gov.in/ and will work by using the One Time Password (OTP) verification system as activated by the department last year by using the Aadhaar number.
These measures are used to validate the e-ITR so that the taxpayer does not take the trouble of sending the paper-based ITR-V by post to the Bengaluru-based Central Processing Centre (CPC) for final resolution and processing.
The new ITRs have been notified recently.
ITR-1 can be filed by individuals having income from salaries, one house property and from other sources including interest.
ITR-2 is filed by Individuals and Hindu Undivided Families (HUFs) not having income from business or profession. ITR-2A is filed by those individuals and HUFs who do not have income from business or profession and capital gains and who do not hold foreign assets.
Source:-The Economic Times