How to file ITR – return Status, ITR login link will be discussed here. In cases requiring an audit, the deadline is 15th February 2021 for those who have not yet filed their ITR. The income tax return filing season has ended. Is your tax return still pending? Let’s look at income tax return issues in more detail.
What is an Income tax return?
After the due assessment, a taxpayer who overpaid income tax to the government for a given year will be returned their excess amount. “Income tax return” is the term used to describe the returned amount.
How do I check the status of my income tax return?
Once the return is determined, the tax department will process it. To find out whether your return has been processed, go to the following websites:
- A portal for electronic filing of income taxes
- Website of the NSDL
- e-filers should enter their User ID, password, and date of birth/incorporation date on the e-filing website.
- Select “Refund/Demand Status” from My Account.
E-filing of income tax returns
- Firstly, begin filling out your income tax return by clicking the e-filing portal. Visit by the given login Link here.
- By entering your username, password, and captcha, you can log in to the site.
- The third step is to click on “View Returns / Forms.”
- Enter “Income Tax Returns” under “Select an option” and the relevant Assessment Year (AY) in step 4, then click “Submit.”
- Click on the acknowledgment number in the fifth step.
- In the screenshot, you can see the status of income tax returns highlighted.
Can I claim a tax return within a certain period?
Only when filing an income tax return can a taxpayer claim a return. Due to the ITR filing requirement, claiming an IT return follows the same timeframe as filing an ITR. You have until the end of the assessment year to file your returns and to claim a return for any AY. If your income tax return has not yet been filed for FY 2018-19 by 31st March 2021, it is also the deadline to file it.
Appealed income tax return
Taxpayers may be entitled to a return based on any court order resulting from an appeal, but it is not required to claim this return because the ITR department will credit the return amount itself. Appeals do not require additional return requests from the taxpayer.
returns are only payable after the new assessment has been made if the assessment of a taxpayer is canceled.
Tax returns and interest
The interest rate under Section 244A is 0.5 percent per month or part of a month on income tax returns. For returns due to excess advance tax paid or TDS deduction, interest is calculated from 1st April of the assessment year until the date of grant of return.
Taxes on income tax returns
The income tax return is not taxable because it is the excess of the tax liability paid over the total taxable income considered for tax liability for a given year; however, interest on income tax returns is taxable as other income.
If you qualify for an income tax return, when can you claim it?
If you qualify for a return, you will be able to claim the following:
When an employer deducts taxes for an employee, he generally considers various forms of documentation provided by the employee, such as 8C investments, 80D health insurance premiums, etc. Some employees, however, have been unable to provide proof for investing before the end of a financial year, and accordingly, their employers have opted to deduct a higher amount. Nevertheless, the employee is entitled to get a return for higher taxes paid due to such investment when filing his tax return.
- Tax may not apply to individuals whose income is less than Rs 2.5 lakh. In this case, no taxes would be due. Even so, they would have had to pay taxes. The excess tax deducted can therefore be returned.
- Excess TDS was deducted from your interest income from bank deposits or bonds.
- Self-assessed advance tax paid more than actual tax liability- The amount of advance tax paid was greater than the tax liability for the given FY. While filling out ITR, advance taxes can be returned.
- Following certain additions to the taxpayer’s income during income tax proceedings, the tax officer may require the taxpayer to pay additional taxes. The appeal authorities can remove these additions. Thus, the taxpayer will receive his tax return.
- Double taxation occurs when income is taxable in more than one country, i.e., income derived from one country but remitted to another.
Non-resident Indians who earn taxable income in other countries can claim a tax return under the DTAAs (Double Taxation Avoidance Agreements). The DTAA agreement allows for any excess taxes to be returned.
How to claim an Income tax return?
The ITR is the easiest way to claim income tax returns. We want to remind everyone that the IT department will process returns only when the ITR is verified through online or offline mode of sending a signed copy of ITR V. Further, the IT department will assess and verify the return. To receive a return, the return claim must be genuine and valid.
What is the taxpayer’s income tax return?
Suppose a taxpayer claims a return in his return of income. In that case, the tax department processes the return, and the taxpayer will receive an intimation from CPC under section 143(1), which will confirm the amount of return that the taxpayer is entitled to. Based on the assessment of the income tax department, the return can either match, or it can be higher / lower than what is claimed in the return of income. Ideally, the income tax department should return this amount to the taxpayer.
Understanding the various types of income tax returns
|Return status||Meaning||Action required|
|return paid||Your return has been credited once your ITR has been processed.||Ensure that the return has been received by checking with your bank. To find out why the payment was not received, contact your bank.|
|In the absence of demand, no return will be given||Taxes and returns are not available to you, nor are you required to pay them.||If you have requested a return, review the comparison received from the IT department, and file a rectified tax return if necessary|
|return unpaid||We accepted the return but did not pay it because the bank details or address were incorrect.||Resubmit the return reissue request on the Income Tax Portal with the correct details|
|return status not determined||There has been no processing of your ITR yet.||Check the status a few days later.|
|return Determined and sent out to return Banker||The return request has been approved by the IT department and informed to the return banker||Check the status of your return payment by contacting the return banker or waiting until the return is credited to your account|
|Demand determined||You have to pay an additional tax because your tax calculation does not match that of the IT department.||You can figure out the mismatch/error by checking the calculation in 143(1). Whenever there is an error, the IT department must be notified within the deadline specified.
If there is no error, you should file a rectification, along with all the supporting information and documents to justify your return request.
|We have processed the return, determined that it will be returned, and sent the bank details||Rectification return has been accepted, Moreover, the return amount has been recalculated and the return amount has been sent to the bank for processing||Check your bank account to confirm the receipt of the return.|
|Rectification Processed and Demand Determined||Rectification return accepted. However, tax dues (tax demand) remain owing.
Payment must be made within a certain timeframe.
|Once all the details have been cross-verified, pay the unpaid tax or tax demand within the deadline.|
|Rectification Processed, No demand, and No return||An income tax return with a corrected status has been accepted by the IRS. Additionally, there will be no additional tax to pay or return to the claim.|
Income tax return set off.
Assessing officers and commissioners may set off returns against income tax liabilities if there is a tax liability and a return.
Help with income tax returns.
Don’t hesitate to contact the income tax department by phone at 1800-180-1961 or by e-mail at [email protected] if you have any queries regarding the return of income tax. CPC Bangalore can be contacted on the toll-free number 1800-425-2229 or 080-43456700 regarding any return modifications.
Returns of income taxes: important points
- Make sure that the bank account details in the passbook are correct by crossing them twice.
- If you receive a return by check, check with the income tax department for the address details.
- Those who file their income tax returns before the deadline will receive their returns faster.
- Make sure the amount of excess tax has been reflected in form 26AS.
How can you determine why you aren’t getting a tax return on time?
In some cases, returns may take longer than expected. There are several reasons why the return could be delayed:
- Income tax returns that have not been verified are incomplete. So make sure you verify your ITR within 120 days after filing your return. As soon as the verification is completed, the return is processed.
- Income tax department bank account details from the past.
- The return must be physically filed if it is filed in physical form. It may result in the return processing taking longer than if it were e-filed.
- The income tax department may scrutinize the return if they feel there was some underreporting of income, which may cause the delay in returns.
Before asking for a reissue of income tax returns, how to correct the errors?
Here are the steps you must follow if you receive notification that the return processing has failed due to incorrect bank details from the income-tax department or return Banker (SBI). You will have to submit a return reissue request in your Income-tax Department’s website login and update your Correct or New bank Account Number.
- Access the Income Tax website by logging in or registering
- To submit a service request, select My Account in the Top Menu.
- Select “New request” from the Request type menu.
- “return reissue” should be selected and submitted.
- Specify the assessment year > enter the CPC communication reference number, which will be mentioned in the intimation received from the income tax department under section 143(1).
- The return sequence number should be entered here.
- Select the mode of return issue and update the correct account number.
Here we discussed income tax returns, ways to log in, queries, and much more. Also, if you have any issues here, then ping us in the comment section below.