Upon filing an income tax return, it should be verified to be processed by the income tax department.
Previously, the process of verification entailed taking a print of the ITR-V form (return filing acknowledgement), signing it, and sending the same to the Central Processing Centre (CPC) in Bangalore.
To ease the verification process, the government has notified new modes via which you may electronically file and verify returns.
Your return can be verified by generating an Electronic Verification Code (EVC). EVC is a 10-digit alphanumeric code that is unique to a PAN. One EVC code can validate only one return.
If you revise your return, you have to generate another EVC. If you verify your return via EVC, you are not required to send the physical ITR-V form to CPC.
To e-verify using your Yes bank account, follow the steps in the attached guide.
Using the EVC you may e-verify your income tax return. Prior to using this verification mode, you must ensure that your bank is authorised by the income tax department for providing such facilities. Also, your mobile number and PAN name in the income tax portal should match the bank information. The steps for every bank vary from one another.