NEED TO KNOW HOW CAN I CHECK MY ITR RETURN STATUS?
Introduction of ITR.
Checking the status of your Income Tax Return (ITR) is a vital step in the tax-filing process, and it provides you with valuable information about the progress and outcome of your tax return submission. The Income Tax Department in India has implemented various methods to enable taxpayers to conveniently check their ITR return status.
This comprehensive guide will explain why checking your ITR status is essential, when you can do it, and the various methods available for checking your status. We will also discuss the different ITR statuses and what they mean, as well as common issues that may arise during the status-checking process and how to resolve them.Visitofficialwebsite
When Can You Check Your ITR Status
You can check the status of your ITR once you have filed it. The exact timing of when you can check your ITR status depends on the method you use and the processing time of the Income Tax Department. Generally, the ITR status can be checked within a few days to a few weeks after filing your return. The specific timeli
How do I check the income tax return (ITR) refund status online
You can check the refund status by logging into your Efiling income tax portal with the PAN number and password. You can then go to E-file> view filed income tax returns. Check the year for which you need to check the status and click on show more for all the details and then you can check your refund status.
What's the best way that I use my income tax refund?
The best way to use your income tax refund depends on your individual financial situation. Here are a few ideas:
- Pay down debt: If you have high-interest debt, such as credit card debt or student loans, using your tax refund to pay it down can save you money on interest in the long run.
- Save for a rainy day: If you don’t have an emergency fund, using your tax refund to start one is a wise move. This will give you a financial cushion in case of unexpected expenses, such as a job loss or medical emergency.
- Invest in your future: If you’re already debt-free and have a healthy emergency fund, you could use your tax refund to invest in your future. This could include things like saving for retirement, a down payment on a house, or your child’s education.
- Treat yourself: After all, you’ve earned it! If you’re feeling generous, you could also use your tax refund to give back to your community or donate to a charity that you care about.
No matter what you choose to do with your tax refund, make sure that you use it wisely and in a way that will benefit you in the long run.
Here are some additional tips for using your income tax refund wisely:
- Don’t spend it all at once: It can be tempting to spend your tax refund all at once on things you’ve been wanting, but it’s important to resist the urge. Instead, take some time to think about what you really want to do with the money and make a plan.
- Consider your financial goals: What are your financial goals? Are you saving for retirement? A down payment on a house? Your child’s education? Once you know your goals, you can start to make a plan for how to use your tax refund to reach them.
- Do your research: Before you make any big decisions, be sure to do your research and compare different options. This will help you make sure that you’re getting the best possible deal.
- Don’t forget about taxes: If you’re using your tax refund to invest or save for retirement, be sure to factor in the tax implications. Some investments and savings accounts are tax-deferred or tax-free, which can save you money in the long run.
How do I claim a tax refund online
According to section 237 of Income Tax Act, 1961, you can claim income tax refund if you have paid excess tax in a particular financial year. The amount of income tax that an individual can claim depends on verification by the tax department after ITR has been filed.
How to claim Income Tax Refund?
· The process to claim income tax refund is uncomplicated and accessible. Individuals should note that there is no specific separate procedure to claim an income tax refund.
· Before applying for income tax refund, individuals should ensure that their return is electronically verified through Aadhaar number OTP, Electronic Verification Code (EVC) generated through the bank or physically verified by positing the signed ITR-V to the Centralised Processing Centre (CPC) within 120 days of filing the return.
· Individuals should also note that the excess tax for which a refund is claimed should reflect in the Form 26AS. Remember that the refund is subject to verification by the Income Tax department. It is credited only if the refund claim is found to be valid.
· The earlier you get the verification done; the earlier CPC will process your return. Once the returns are processed by CPC at primary level for arithmetical errors etc, refund will be issued to the taxpayer.
To check the status of your Income Tax refund click on the link given below;
https://blog.taxofile.com/income-tax-refund-step-by-step-process/
Hope this helps!
Thank you!
What can be done when my income tax refund has not come to me yet?
Are you wondering why you have not received your income tax refund yet despite having filed your income tax return (ITR) within the due date for assessment year (AY) 2019-20? There could be various reasons for the same. However, a common reason could be furnishing incorrect bank account details in the ITR form.
While tax refund was earlier issued either in the form of cheque or direct credit to bank accounts, the income tax department now credits tax refunds only in the form of direct credit in the bank accounts of taxpayers. Moreover, from this AY, these accounts need to be pre-validated and linked to the taxpayers’ permanent account number (PAN).
You are eligible to claim a refund if excess income tax has been deducted from your income during the year. This could happen in cases of multiple incomes or where tax is deducted at source (TDS). The income tax department does refund this excess tax paid, but you have to apply for it when filing your ITR for the relevant financial year.
Methods to Check ITR Return Status
There are several methods available to check your ITR return status in India. These methods provide flexibility and convenience for taxpayers. Below are the primary methods:
Method 1: Online via the Income Tax e-Filing Portal
The official Income Tax e-Filing Portal (https://www.incometaxindiaefiling.gov.in/) provides a user-friendly and secure platform for checking your ITR return status. Here’s how to do it:
Visit the Income Tax e-Filing Portal.
Log in to your e-filing account using your User ID (PAN), Password, and Captcha code.
Once logged in, click on the “View Returns/ Forms” tab.
In the dropdown menu, select “Income Tax Returns.”
A list of your submitted ITRs will appear. Find the relevant assessment year (AY) for the ITR you want to check and click on “Acknowledgment Number.”
The status of your ITR will be displayed. It will indicate whether your return is under verification, processed, or if there is any tax payable or refund.
Method 2: Through Mobile Apps
The Income Tax Department has mobile applications that allow taxpayers to check their ITR return status on the go. You can download the relevant app (e.g., “MyITR”) from app stores and follow the instructions to check your status.
Method 3: SMS Service
The Income Tax Department provides an SMS service for checking ITR status. To use this service, you need to send an SMS from your registered mobile number in the following format:
Send this SMS to 14415 or 567678 or 56161. You will receive a response with your ITR status.
Method 4: Email Communication
The Income Tax Department may also send email notifications about your ITR status to the email address provided during the filing process. Be sure to check your registered email inbox for any updates.
Method 5: Registered Accounts
Some taxpayers may have registered accounts with private intermediaries or financial service providers who offer services related to tax filing. In such cases, these intermediaries may provide information about your ITR status through your account on their platforms.
Method 6: Offline at Tax Department Offices
If you prefer an offline method, you can visit the local tax department office to inquire about your ITR status. However, this method may be less convenient and may involve longer processing times compared to online methods.
Why Checking ITR Status is Important
1. Confirmation of Filing: It provides confirmation that your ITR has been successfully filed with the Income Tax Department. This is important for ensuring that you have met your tax obligations.
2. Tracking Refunds: If you are eligible for a tax refund, checking your ITR status helps you track the progress of your refund. It allows you to know when the refund has been processed and when you can expect to receive it.
3. Verification of Details: By checking your ITR status, you can verify that the information you provided in your return matches what the tax authorities have on record. This helps ensure the accuracy and completeness of your tax return.
4. Addressing Issues: If there are any issues or discrepancies in your ITR, checking the status can alert you to potential problems. This allows you to take corrective action, such as providing additional documents or clarifications, to resolve any issues.
5. Avoiding Penalties: Staying informed about your ITR status helps you avoid potential penalties or legal consequences that may arise from non-compliance with tax laws.
Understanding Different ITR Statuses
When you check your ITR status, you will come across different statuses, each indicating a specific stage in the processing of your return. Here are some common ITR statuses and what they mean:
Status 1: Return Submitted and Under Verification
This status means that your ITR has been successfully filed, but it is currently under verification by the Income Tax Department. Verification may involve a review of the information provided in your return and may take some time to complete.
Status 2: Return Submitted and Processed
If your ITR status shows that your return has been processed, it means that the tax authorities have reviewed and accepted your return. The processing includes the calculation of your tax liability or refund, if applicable.
Status 3: Return Processed, Refund Issued
If your return has been processed, and you are eligible for a tax refund, this status indicates that the refund has been issued by the Income Tax Department. It may also provide details about the refund amount and the mode of payment.
Status 4: Return Processed, Refund Failed
In cases where the Income Tax Department encounters issues with processing the refund, this status may be displayed. It indicates that the refund process has encountered difficulties and has not been successful. You may need to take corrective actions to resolve the issue.
Status 5: Return Processed, Tax Payable
This status signifies that your ITR has been processed, and you have a tax liability to be paid. It provides details about the amount of tax payable and the due date for payment.
Tips for Smooth ITR Filing and Status Checking
1. Keep Accurate Records: Maintain accurate financial records, including income details, deductions, and supporting documents. This will help ensure the accuracy of your ITR.
2. File On Time: File your ITR before the due date to avoid late filing penalties and to expedite the processing of your return.
3. Use E-Filing: Consider e-filing your ITR as it is a more efficient and convenient option. The online process is faster, and you can check your ITR status online.
4. Verify Bank Details: Double-check that the bank account details provided in your ITR are accurate to avoid refund issues.
5. Save Acknowledgment: After filing your return, save a copy of the acknowledgment receipt. It contains essential details that can be used to check your ITR status.
Conclusion of ITR
Checking the status of your Income Tax Return is a critical step in ensuring that you have fulfilled your tax obligations and addressing any issues or discrepancies that may arise during the tax-filing process. It provides clarity on whether your return has been successfully filed, processed, and whether you are eligible
how auriga accounting help you to check ITR status
Auriga Accounting, as a professional accounting and financial services firm, can assist individuals and businesses in checking the status of their Income Tax Return (ITR) in India. They can offer guidance, support, and services to ensure that the ITR status is monitored accurately and efficiently. Here’s how Auriga Accounting can help in this regard:
Educating Clients: Auriga Accounting can educate their clients about the importance of checking the ITR status and why it’s a critical step in the tax-filing process. They can explain the significance of ensuring that the filed returns are processed correctly and that any refunds or demands are appropriately addressed.
Selecting the Appropriate Method: There are various methods to check the ITR status in India, including online and offline options. Auriga Accounting can help clients choose the most suitable method based on their preferences and comfort with technology.
Online Portal Guidance: For clients who prefer online methods, Auriga Accounting can guide them through the process of checking ITR status on the official Income Tax Department’s e-filing portal. This guidance includes:
- Accessing the Portal: Assisting clients in navigating the e-filing portal and helping them log in to their accounts, if applicable.
- Choosing the Correct Assessment Year: Ensuring that clients select the appropriate assessment year for the ITR they want to check the status of.
- Entering Required Details: Assisting clients in entering the necessary information, such as their PAN (Permanent Account Number), ITR acknowledgment number, and the captcha code.
- Monitoring the Status: Explaining how to view the ITR status and interpret the results. This may include understanding different status messages, such as “Return Submitted and Verified” or “Return Processed.”
- Tracking Refund Status: In cases where a refund is expected, Auriga Accounting can guide clients in monitoring the refund status and understanding the payment process.
Offline Method Support: For clients who may not be comfortable with online methods, Auriga Accounting can provide guidance on using offline methods to check ITR status. This can involve visiting the local income tax office, reaching out to the customer care helpline, or sending physical inquiries.
Status Interpretation: Auriga Accounting can help clients interpret the status messages they receive, explaining what each status means and what action, if any, is required based on the status. For example, they can clarify what to do in case of a “Defective Return” status and guide clients through the rectification process.
Assisting with Refunds and Rectifications: If the ITR status indicates that a refund is due or that a rectification is necessary, Auriga Accounting can assist clients in taking the appropriate steps to expedite the process. This includes helping clients provide any additional information or documents requested by the tax authorities.
Record Keeping: Auriga Accounting can stress the importance of maintaining records of ITR status checks and acknowledgments for future reference. This can be valuable in case there are discrepancies or issues with the ITR in subsequent years.
Monitoring for Notices: In cases where the ITR status displays a notice or demand, Auriga Accounting can guide clients on how to respond to such notices and ensure that they comply with any requirements or deadlines set by the tax authorities.
Post-Filing Assistance: Beyond checking the ITR status, Auriga Accounting can provide ongoing support to clients, addressing any queries or concerns that may arise during the assessment process. They can offer advice on how to prepare for potential tax audits or additional document requests.
E-Filing and Compliance: Auriga Accounting can ensure that clients remain compliant with tax regulations and encourage the use of e-filing for ITRs, which can streamline the process and reduce the likelihood of discrepancies.
