You are eligible for income tax returns if the tax paid exceeds your liability. For this, the payer needs to document and file the returns. E-filing is an effective way to check the status of your returns. This article will also show you various situations where your returns can be denied and the points to be kept in mind while filing the return.
Filing of ITR involve the processing and calculating of tax paid. If the authorities verify the ITR filed, you can become eligible for returns. This service is being regulated online for its users. The income tax return gets verified after concluding your liability against your income. The refund is documented against your income.
Tax income refund is a lawful act proceeded on a specific date irrespective of the type of source.
This year, the ITR has to file by the 31st of July2019. The process of checking the status of returns has been made easier by e-filing. Filing income tax returns can benefit the payer to tell if he/she pays more tax than their real liability.
The steps to check the status of the refund once it gets accepted is as follows:
The amount of refund can be checked after the authorities mail an intimation to you. This means they’ve verified your account for returns.
To check the status online.
1.Go the website www.incometaxindiaefiling.gov.in This the official site to check the status of your processed return.
2.Fill-in the important details PAN number (This information is important in identifying your account)
4.Date of birth in DD/MM/YYYY format.
5.And enter the given captcha code.
6.Find the view Returns/Forms.
Select the Income Tax returns option equivalent to the financial yearand verify the acknowledgment number. it will give you the complete information of filing to the acceptance of the return.
The other derails it recounts includes- Assessment year and the status of the returns
Information of failure, if any.
The timeline discusses the happenings and uploads of ITR and the processed ITR dates and in case of failure, the reason is also stated. Return can be credited to your account by RTGS/NEFT.
The other website to acknowledge the status of your accepted returns is called the TIN NSDL.
1.https://tin.tin.nsdl.com/oltas/refundstatuslogin.html > PAN card details.
2.Assessment year > captcha code > Submit.
E-filing has made it easier for the user to keep a record of their ITR. This will promise responsible returns from the authorities if verified. And it also encourages the income-tax payer to document their taxes.
The screen can display several messages. This guide will help you decode the message to get a better understanding of the status of your return.
- Return Expired means failing to deposit the cheque granted to you in the given time of 90 days. It is important for the returns to encashed in the given time.
- Return can also be processed by direct credit method by SBI and the amount doesn’t get processed. It can occur due to incorrect bank details, banks details of a closed account, the account holder is not the citizen of India (NRI). The account holder has been deceased.
- The return can also get dis-continued in case of wrong details of the bank when the amount is paid through electronic clearing device. or, if the transfer is sent by cheque to your address and you fail to collect it. The return can also drop if it is a loan, Provident Fund or fixed deposit account.
These situations can occurand will automatically cancel your returns. You can re-issue your return by following these steps.
1.Go to the tax e-filing official website- www.incometaxindiaefiling.gov.in > My account Service Request > New Request > Refund Reissue.
2.Provide all the details
- Acknowledgment Number.
- Reference Number.
- Communication Reference.
- After filling this information, click Submit.
Completing theprocess of a verification code and electronic signature is required. You will also need to fill your bank details. After the return gets re-issued you can cash it in 90 days.