The ITR must be electronically verified through Aadhar number OTP, EVC generated through bank account or physically verified by posting the signed ITR-V (acknowledgement) to Centralized Processing Center (CPC) within 120 days of filing the return.
Income tax refund situation arises only when a taxpayer pays higher tax through advance tax, self assessment tax or tax deducted at source than his total tax liability in an assessment year. A taxpayer can claim refund of income tax by submitting & filing the income tax returns (ITR) form in e-filing portal. The ITR Form must be electronically verified through one of the methods of Aadhar number OTP, EVC generated through bank account or physically verified by posting the signed ITR-V (acknowledgement) to Centralized Processing Centre (CPC) within 120 days from the date of filing the return.
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