EVC Generation Using Demat Account

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EVC Generation Using Demat Account

Every taxpayer whose taxable income is above the basic exemption limit mentioned by the Income Tax Act should mandatorily to file an income tax return each financial year. Filing of income tax returns must be concluded with verification of return. Income tax return filing can be verified by mailing the ITR-V acknowledgement to the CPC in Bangalore or through the EVC mode. In this article, we briefly discuss the process of income tax return e-verification through EVC generation, by using a Demat account.

What is EVC?

Electronic Verification Code, the abbreviation for which is EVC, is a ten-digit alphanumeric code generated by the Income Tax Department to e-verify the income-tax returns of an assessee. Other than through Demat account, EVC can also be obtained through the following means:

  • E-mail ID and mobile number
  • Aadhar Card
  • Net-banking
  • ATM
  • Bank account details

Generating EVC Using Demat Account

The following paragraphs outline the procedure for EVC generation through Demat account. EVC can be generated using the details of Demat account in the following manner:

Step 1:- Official website

Visit the official e-filing website of the Income Tax Department (https://www.incometaxindiaefiling.gov.in/home).

Step 2:- Login

You will find three options at the top right corner of the page. Select “Login” if you are a registered user, select “Register yourself” if you have not.

Step 3:- Login page

Enter the username and password, along with the captcha code to login to the account.

Step 4:- Profile Setting

On the “Profile Setting” drop-down menu on the succeeding page, select “Update Demat Account Details.”

Step 5:- Generate EVC

Now, click on “Generate EVC using Demat Account details.”

Step 6:- EVC delivered

Check your registered e-mail account or mobile number to identify the auto-delivered 10-digit alphanumeric code.

Complete Your E-verification

E-verification of returns must be completed within 72 hours of obtaining the EVC. In the following paragraphs, we examine the procedure for e-verification of returns:

Step 1: Login

The procedure to log in is the same as has been specified for the generation of EVC.

Step 2:- e-Filed Returns/Forms

Select e-filed returns/forms from the “My Account” drop-down menu, which can be found on the same page as “Profile Settings.”

Step 3:- View returns

Now, select the option “Click here to view your returns pending for e-verification” tab.

Step 4:- E-Verify

The following page will depict the returns which remain to be verified. Click on the E-Verify option that can be found adjacent to the particular return.

Step 5:- Choose your option

At this step, the taxpayer is required to choose the desired option for completion of the EVC process. Since the EVC has been derived through Demat account, it is apt to choose “Option 1 – I already have an EVC to e-verify my return”.

Step 6:- Conclude the process

Now, conclude your verification by entering the relevant EVC. With this step, the process of EVC verification is completed.

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