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  • Checking Income Tax Return - Verification (ITR-V) Status

    Income Tax Return – Verification, also referred to as ITR-V, is an acknowledgement that is sent by the Income Tax Department in lieu of the successful filing of the income tax return. Once the verification has been checked, the form has to be printed, signed and sent to CPC Bangalore in order to complete the returns process.

    A user can check the status of his ITR-V receipt submitted online with Income Tax Department, by entering his PAN, e-filing acknowledgement number and assessment year. The user can also check if the Central Processing Centre (CPC) has received the ITR-V and if digital signature has been used while filing. An ignorance can can lead to various issues such as loss of tax refunds or paying additional tax. Hence, to avoid these, it is always essential to check the status of income tax returns verification.

    Verifying the Income Tax Returns:

    One of the first things to be done immediately after e-filing, the taxpayer has to e-verify or dispatch his ITR-V to CPC Bangalore. Here are the steps on how to go about this process:

    • There are two methods to verify the Income Tax Returns (ITR). First is the electronic verification. After logging into the official portal of the government, go to the main menu and navigate to ‘E-Verify Return’ option.
    • The Aadhar Card can be linked with PAN number to generate an OTP, or One Time Password. The password will be delivered to the taxpayer’s registered mobile number, which can be used to validate the e-filing.
    • An electronic verification code (EVC) can also be generated to verify the ITR. The EVC gets delivered to both the mobile number and email id of the taxpayer. However, the EVC method of verification can only be used by taxpayers with annual income more than Rs 5 lakh.
    • There is also a non-electronic ITR verification method. In this, a signed copy of the ITR-V has to be mailed to CPC, Bangalore. The acknowledgement form has to be sent, via speed post, within 4 months (or 120 days) of filing the tax returns. Here is the address:

    Income Tax Department-CPC,

    Post Box No-1,

    Electronic City Post Office,

    Bangalore-560200, Karnataka

    In case the acknowledgement form has a digital signature, then it need not be sent to CPC, Bangalore. A failure to verify and dispatch the ITR can be considered as default by the IT Department and the ITR will not be processed.

    Tracking the ITR-V Receipt Status:

    In case the taxpayer has opted for ITR verification, then it is important to track its status regularly. At times, during a non-receipt of the ITR due to postal loss can be intimated by the IT department,which can be missed if not tracked.

    Once Bangalore’s CPC receives the form, an acknowledgement email is sent to the taxpayer. The email is sent one month after the receipt of the income tax returns verification document.

    The status of the ITV-R form can be checked as follows:

    • An acknowledgement email to sent to the taxpayer’s verified email ID, mentioned in the ITR. Since such mails can often end up in the Spam folder, it is advisable to check all folders.
    • The status can also be checked using the PAN, year of assessment, or e-filing acknowledgment number that is found under the status tab of the ‘Services’ section of the e-filing website.
    • The taxpayer can also call CPC Bangalore at the toll free number 1800-4250-0025 in order to check the status.

    Tracking the Intimation Status:

    • Post the e-verification, which takes almost a month, the IT department sends an email intimation, under Section 143(1). Details such as total tax paid, total TDS deducted, and deductions, if any are available in the intimation. Any information regarding the difference in the amount of income tax paid, deductions, income, TDS, or income tax payable is also provided.
    • There are two columns where the status is intimated. One is the income tax as provided in return of income by taxpayer. The other is income tax payable calculated under Section 143(1). It is essential to analyse the intimation under Section 143(1) provided by the IT Department, so that you are aware of any alterations or mistakes in the details provided by you.
    • In some cases the intimation may specify difference between the tax paid and the amount computed by the Department. This is referred to as Notice of Demand under Section 156. In such instances, the taxpayer will have to pay additional tax if specified by the intimation.

    Tracking Status of Income Tax Refund:

    When the income tax computed by the IT Department is more than the amount paid, the taxpayer can claim for a refund. The refund will be deposited in the taxpayer’s bank account, as furnished in the income tax return form. Status of the tax refund status can be checked by logging to the registered account from the Government Website. After the income tax return (ITR) gets processed, it can be checked at TIN Website.

    Documents to be Retained as Proof:

    The income tax records, including paperwork, should be kept carefully, since the IT Department can initiate legal proceedings within a period of 6 years. Hence it is advisable to safekeep all required documents for a span of at least 7 years.

    Here is a list of records that will be required for future references:

    • Filed ITR along with ITR-V
    • Form 16
    • Tax deducted at source (TDS) or Form 16A
    • Form 12 B
    • Bank account statements
    • Statements of tax exemption
    • Copy of Challan for tax paid
    • Gifts deeds
    • Intimation from the IT department, email copy and print out or photocopy of the same.

    Most of us think that once tax returns are filed, the job is done. We never think of going back to verify Due to this notion, a number of taxpayers face a lot of issues regarding payment and refunds. Never postpone or put away checking on your ITR-V.

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