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Thursday 26 December 2013

How to ensure that I-T department got your IT Return?

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Has Income Tax department got your return?

INDIVIDUALS having total income in excess of Rs 5 lakh were required to file their personal tax returns electronically for financial year 2012-13. The due date for filing personal tax return was July 31, which was extended to August 5 because many taxpayers were not able to access the e-filing portal due to last minute rush.

Some taxpayers have filed their tax returns electronically for the first time and are unaware of the complete e-filing process.

As part of the procedure, an individual is required to sign the tax return acknowledgement (ITR-V) and send it to the central pro cessing centre (CPC) of the income-tax department. This is required to be done within 120 days of upload ing the return and the ITR V is supposed to be sent by ordinary post or speed post.

Usually, the income-tax department sends an email and an SMS to the taxpayer confirming the receipt of ITR-V. The email and SMS is sent to the email address and mobile number mentioned in the tax return. In case the taxpayer has not re ceived any communication from the income tax de partment, then he has an option to check the status by logging into his account on the e-filing website http://www.incometaxindiaefiling .gov.in and clicking on `my returns/ forms' section under the `My Account' tab.

The ITR-V receipt status can also be checked by clicking on the ITR-V receipt sta us' tab under `services' section on the e-filing website and quoting the e filing acknowledgement number or the PAN and assessment year. The taxpayer must also check his income-tax return to ensure that the email address and mobile number given in the return are correct.

In case ITR-V has been sent by speed post, then the status can be tracked with the tracking number assigned at the time of booking the speed post. Taxpayers can also call the CPC helpline numbers 08022546500, 1800-425-2229 or 1800-4250-0025 (toll free) and enquire about the status. Where ITR-V has been sent by normal post, then the tracking will be difficult as there would be no receipt or tracking number.

The income-tax department is proactive in processing the tax return and sending the confirmation of receipt to the taxpayers.

Many people have already received the confirmation and their return filing process is complete. Some have also received their refund.

There are some discussions that sending the hard copies will not be mandatory in future. However, for FY13, one has to send the ITR V to the CPC. Hence, it is recommended that one should not wait till the 120th day and should send the ITR-V after the return is filed. Even after sending it, if CPC has not confirmed the receipt, then you should re-send the signed ITR-V in your own benefit.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

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You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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