ITR V Form is required to be submitted at the time of efiling of Income Tax Returns. But a question arises regarding what is this Form all about and why is it required to be submitted physically when we have already submitted the ITR Form Online. This article tries to highlight the reason for requirement of sending physical copy of this form and How you can download ITR V Form Online.
What is ITR V?
ITR V stands for Income Tax Return Verification and is an Acknowledgement Slip which is generated on submitting the Income Tax Return Online. In case you have submitted your Income Tax Return using your Digital Signature, you won’t be required to download, sign the ITR Verification Form and send the same to the Income Tax Deptt as your Income Tax Return would have been signed digitally using your Digital Signature.
- Recommeded Read: Digital Signatures for filing your Income Tax Returns
However, in case you don’t have a Digital Signature, you can always file your Income Tax Return online without using a Digital Signature and send the ITR V to the Income Tax Dept. More than 80% of the Indians don’t have Digital Signatures and file their Income Tax Returns without using Digital Signatures and send the ITR V Acknowledgement Form by post.
It is always required to sign any form before sending it as it is a part of the declaration stating that all details that have been furnished are true and fair & correct and complete in all respects.
How to Download ITR V
The ITR V Form is send to the email id of the Assessee as per the records of the Income Tax Department i.e. the email id which you entered at the time of creating your user-id and password on www.incometaxindiaefiling.gov.in
The user can download the ITR Acknowledgement Form from his registered mailbox. The ITR V would be sent to your registered mailbox from the email id – email@example.com. In case the ITR V has not been received, the taxpayer is also requested to check the Spam Folder in the mailbox as sometimes the mail lands in the Span folder.
Password for ITR V PDF File
The ITR V sent to the email id of the assessee is a password protected zip file to ensure that it is accessed by the appropriate user. The ITR V Password is a combination of the PAN No. of the Assessee ( in small letters) and the Date of Birth. For eg: if the PAN is AAAAA0000A and the Date of Birth is 10-Jan-2008, then the ITR V Password would be aaaaa0000a10012008.
Download ITR V from Income Tax Website
In case you have not received your ITR Acknowledgement by email, you can login to your account on www.incometaxindiaefiling.gov.in through which your Income Tax Return was uploaded online and view Returns/Forms
After logging in to your Account, Click My Account > My Returns. Select the Year for which you want to download the ITR V and click submit. On submitting these details, the portal will show you the Date on which the Return was filed, the efiling acknowledgement no., the email id on which ITR Verification Form has been sent and the option for downloading ITR V.
Sending ITR V Acknowledgement
The Assessee is required to take a print out of the ITR Acknowledgement form, sign the same and shall sent it by normal post or by speed post only to
Post Bag No. 1, Electronic City, Post Office, Bengaluru, Karnataka – 560100
This ITR V Form shall to sent to the CPC of the Income Tax Dept. on the above mentioned address within 120 Days of filing the Income Tax Return Online.
The Income Tax Dept does not issue any receipt on receiving this Form. However, in case the Form is not received by the Income Tax Dept. within 120 days, they do send a reminder email for the same.
You can also yourself check the ITR V Receipt Status Online on the efiling website of the Income Tax Dept. - https://incometaxindiaefiling.gov.in/e-Filing/Services/ITRVStatusLink.html
Points to be noted while sending ITR V
- ITR Acknowledgement Form should be printed in Black Ink only
- Please do not print any watermark on the ITR Acknowledgement Form. The only permissible watermark is of the Income Tax Dept. which is printed automatically on each form.
- Only A4 Size sheets should be used
- Avoid typing anything on the back of the print of this form
- In case you are submitting original as well as Revised Return, do not print them back to back. Use 2 separate papers for printing the ITR Acknowledgements separately.
- Please do not submit any other document/form/annexure/covering letter etc. along with the Covering Letter
- In case excess advance tax has been paid or excess TDS has been deducted and reflected in Form 26AS as compared to the Self Assessment Tax as computed by the taxpayer for the said Financial Year, the amount of tax to be refunded would be reflected in the ITR V and would be refunded to you along with Interest @ 6%.