New Delhi: Filing your Income Tax Return (ITR) is vital to meeting your tax obligations. Nonetheless, it is essential to keep track of the status of your ITR once you have submitted it to ensure a smooth processing process. Below are some ITR statuses explained and reasons why it’s important to monitor them.
Types of ITR Status
Submitted and Pending for E-Verification/Verification: This situation arises when the return has been filed but not yet e-verified or the signed ITR-V form is not yet reached CPC. To allow further processing, e-verification or sending in ITR-V through mail is required.
Successfully E-Verified/Verified: If you have successfully e-verified or verified your return, this status means that while verification has been done, processing of your return has not yet commenced.
Processed: This means that your ITR has successfully gone through all the processes. It normally follows an elaborate review by CPC, and if any refunds are there they will be given.
Defective: If there is a problem with your return, such as missing information or inconsistencies, it will be labeled “Defective”. After this you get under the section 139 (9) notice to rectify these defects in your ITR within a period specified. Your ITR will become void and won’t be processed if you fail to act on this.
Case Transferred to Assessing Officer: In case your case has been transferred to an area assessing officer (AO), the AO will get in touch with you for further details or clarifications required for processing the return.
Why Check Your ITR Status?
It is important that taxpayers monitor their refund status continuously so that timely solutions can be provided. When discrepancies occur, like a faulty return or extra information demanded by the AO, immediate action is significant to avoid complications. Furthermore, checking once in a while also helps one know how much progress has been made regarding any refunds owed.
How to Check Your ITR Status
You can check your ITR status both pre-login and post-login on the e-filing portal (https://www.incometax.gov.in/iec/foportal/). You can download either of your returns or intimation notices after logging in. It is not mandatory that you register your mobile number when checking but this will offer additional functionalities. If filed by an authorized representative or E-Return Intermediary (ERI), both you and the representative can view the status.
Monitoring your ITR status is crucial to ensure timely processing and address any issues promptly. Regular checks can help you track refunds, rectify defects, and stay informed about your return’s progress. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
