Income Tax News: Did you file your income tax return before the July 31, 2024 deadline and still find it unprocessed? If so, you’re not alone, and here’s why it’s important to get it processed quickly – until the Income Tax Department processes your return, any refund you are due won’t be credited to your account. According to data available, it takes around 15 to 45 days for an ITR to be processed after e-verification on average. However, in some cases, it may take longer.
How Long Could the Tax Department Take to Process ITRs?
According to the rule, the tax department has nine months from the end of the fiscal year to process your return. If it remains unprocessed beyond that, the department is legally required to examine it. So, rest assured that your filed return won’t remain in limbo forever.
Based on the latest statistics from the Income Tax Department, here’s an estimate of how long it might take for the remaining ITRs for FY 2023-24 to be processed:
- ITRs processed as of Aug 24: 54,466,177
- ITRs processed as of Aug 19: 49,423,760
- Total ITRs filed by July 31: 72,880,318
- ITRs left to be processed by Aug 24: 18,414,141
With an average of 1,008,483 ITRs being processed daily, it is estimated that the remaining returns will be processed in approximately 18 to 20 days.
How to Check Your ITR Status Online
Worried about the status of your return? The Income Tax Department’s e-filing portal lets you track the progress of your ITR in just a few steps:
- Visit the e-filing portal: Log in with your PAN and password.
- Go to the “e-File” section: Select “Income Tax Returns” and then “View Filed Returns.”
- Check the processing status: Click on “Processing Status” to see where your return stands.
Understanding Different ITR Statuses
- Submitted and Pending for e-Verification / Verification: You’ve filed your return but haven’t completed e-verification yet.
- Successfully e-Verified / Verified: Your return is verified, but processing hasn’t begun.
- Processed: Your return has been successfully processed.
- Defective: The department has flagged your return for missing information or inconsistencies. If you receive a notice under section 139(9), you’ll need to fix the defect or your ITR will be invalidated.
- Case Transferred to Assessing Officer: The CPC has forwarded your case to your jurisdictional AO for further review.
What to Do If Your ITR Still Isn’t Processed
If your ITR has not been processed for an extended period, you can lodge a grievance on the income tax portal or contact the Central Processing Centre (CPC) through their helpline.
Factors Contributing to Delayed ITR Processing
Several factors influence ITR processing times. These include the form used, the complexity of the return, claims for deductions or exemptions, and whether these details align with Form 16.
In cases where a more complex form is used, or if the department requires more verification, processing may take longer than expected.
By tracking your ITR status and ensuring your details are complete and accurate, you can stay on top of the process and minimize delays in receiving your refund.
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