We are all going to be quite busy in the month of July filing income tax returns, or ITRs as they are more often called. So what precisely is an ITR, and why should anyone care? So, to put it simply, it is a document that an individual taxpayer must submit to the Income-tax Department at the completion of a financial year.
What justifies filing one? The Income-tax Act of 1961 requires you to do this, after all. You must file your tax returns if you are an individual taxpayer and your yearly income exceeds INR 2,50,000. And in order to avoid any unfavourable results, it must be completed before the deadline.
Once you have figured out all the details about filing your tax returns, it is important to stay on top of it. One of the easiest ways is to keep a tab on Income-tax return e-filing status. Keeping an eye out on Income-tax e return status will ensure you are prepared for any surprises that the Income-tax department might throw at you.
There are different Income-tax return file statuses and they give you an indication as to how your return filing is going on. If you get a status of ITR status processed, there is no action needed from your end. However, ITR status defective means that there was an error in your income tax filing. Some common reasons for it include non-disclosure of taxable income or partial disclosure of taxable income in the return for getting refunds, etc.
Similarly, if you get ITR status transferred to AO status it usually means, your return has been transferred to an assessing officer. Usually returns that are a bit complicated need human intervention and AO takes over such cases. If you want to check your Income-tax refund status, here are the steps to do the same.
You can check the status of your Income-tax Return from your Income-tax website login.
The steps for this are as given below:
Step 1: Login/Register on the Income-tax website click here.
Step 2: After Login click on e-FIle >> Income Tax Returns>> View Filed Returns.
Step 3: Click on View Details
Step 4: View the Return Status.
The status of Income-tax returns varies from case to case. To know more, click here.
Thus, it is essential to keep an eye on the ITR status refund status. The steps mentioned above will help you verify ITR status by PAN number. Due diligence in getting all the documents right before filing your returns will ensure no issues. The presence of a simple mechanism to check Income-tax return status check by PAN no will aid you in getting to know the status and you can act accordingly.
- Which ITR status can I check online?
You can check the status of income tax returns online if only the same was filed online. Or otherwise referred to as e-file.
- Is there any other way of checking the status?
Yes. You can visit the Income-tax e filing portal and check the status online without logging into your account. Click here to know to check income-tax processing status.
- What is the next step?
It would largely depend on the type of status that you are able to see. If it shows as processed, It is recommended to go through the ITR intimation u/s 143(1) and if there is a change in the demand/refund (increase or fall), the assessee must take further action on the same. However, if there is a status such as defective, you need to file a rectification return.
- When can I expect a refund?
It usually takes anywhere between 20-45 days from your e-verification date to complete the income tax refund. However, it might take a bit longer than that as well. Thus, you must first file your return and then verify the return to enable any refunds.