This article is to explain post e-filing processes involved.
Step 1: Acknowledgment (ITR-V) is generated by the Income-tax Department.
Acknowledgment (ITR-V) is generated by the Income-tax Department and sent to the e-mail address given in return filing. (If you have not received it yet, read instruction on how to download ITR-V).
Step 2: You need to sign the ITR-V and send to ITD
ITR-V needs to be printed, signed and sent to the Centralised Processing Centre (CPC), Bangalore of the Income-tax Department. (read instructions on how to print, sign and send ITR-V).
ITR-V can be e-verified (read instructions on e-verification of return).
At this point the actions from the Return filer is over and the process at CPC begins.
Step 3: CPC processes returns after your ITR-V is received.
CPC processes every e-filed return and generates intimation u/s 143(1). Intimation 143(1) is result generated post the comparison between data provided in return filing and the record available with CPC. It also carries detailed calculation of your tax as computed by the Income-tax Department compared to the computation n your return.
Once intimation u/s 143(1) is generated, it is sent to the e-mail address given while filing the return. This activity happens usually within 30 days of e-verification or receiving of ITR-V at CPC.
Return filer is required to read and analyse the intimation. The result varies case to case basis and broadly has three conclusions.
(a) No demand No Refund
It is a case where the adjustments as referred to in section 143(1) have been made resulting in increase/reduction in loss declared by the taxpayer and no interest or tax is payable/ refundable by/to the assessee.
(b) Demand Determined
It is a case where any interest or tax is found payable after making adjustments as referred to in section 143(1) and after giving credit to the taxes and interest paid by the taxpayer.
(c) Refund Determined
It is a case where any interest or tax is found refundable after making adjustments as referred to in section 143(1) and after giving credit to the taxes and interest paid by the taxpayer.
Return filer is required to act accordingly to the conclusion of the intimation u/s 143(1). Here is an explanation of most of the status - click here.
Additionally, here is a guide to check the status of your e-filed return.