In India, the Income Tax Department requires taxpayers to verify their income tax returns electronically. One of the ways to do this is by using your Demat account. In this blog, we will explain how you can use your Demat account to e-verify your income tax return.
- Log in to the e-filing website: The first step is to log in to the e-filing website of the Income Tax Department. You will need to use your PAN number and password to log in to the website.
- Select the e-verification option: After logging in to the e-filing website, you will need to select the e-verification option. There are several ways to e-verify your income tax return, and one of the options is to use your Demat account.
- Provide your Demat account details: If you choose to e-verify your income tax return using your Demat account, you will need to provide your Demat account number, depository name, and the name of your Depository Participant (DP).
- Generate an EVC: Once you have provided your Demat account details, the e-filing website will generate an Electronic Verification Code (EVC). You will need to use this EVC to e-verify your income tax return.
- Login to your DP’s website: After you have generated the EVC, you will need to log in to your DP’s website using your Demat account login credentials.
- E-verify your income tax return: Once you have logged in to your DP’s website, you will be able to e-verify your income tax return using the EVC.
- Confirm the e-verification: After you have e-verified your income tax return, the e-filing website will confirm the e-verification, and your return will be considered as verified.
In conclusion, using your Demat account to e-verify your income tax return is a simple and convenient process. By following these steps, you can e-verify your return without the need to physically visit an IT office or send in any documents. It is advisable to ensure that your Demat account details are up-to-date to ensure a seamless e-verification process.
