How much time it IT Department take To solve the issue the assessment order after the Online Income Tax Return Verification?
It is not just enough of filing the IT returns, but getting the intimation under Section 143 (1) or the Income-tax Act, 1961 from the CPC or the central processing center of the Income-tax department, Banglore is very important. The responsibility of paying the tax and filing income tax does not end with it but till the assessment order of the filed returns is got from the IT department. For this, the first step is the online income tax return verification.
How do I get online income tax return verification?
Once you have finished your efiling Form ITR V or the acknowledgment form the IT department will be sent. This should be immediately saved and also a print out taken. This has got the CIN or the challan identification number which is the reference number for future communications with the IT department for the fate of your It returns and the refunds. Once the acknowledgment of receipt is got it is the work of the IT department to verify your returns and match your details and the details available with them. Any excess or deficit of tax or other discrepancies will be checked and your status will become verified successfully in the official website for your returns. This could be done by logging in and checking the status of the return of ITR in the website.
What is the time limit for IT returns to be verified?
The maximum time limit for verifying your ITRs is 120 days from your efiling date. After some two to three weeks if your status is not showing as successfully verified it is better to send the signed ITR V by post to the CPC, Banglore. The email address for the confirmation to be sent by the CPC should be given correctly. Within 1 to 2 weeks the confirmation will be sent by the CPC to the email mentioned. If not received proper checking in the spam and trash is to be done on daily basis. This is because only the confirmation is the future correspondence between the taxpayer and CPC. Also, check the official website with your ITR V for any confirmation received there or SMS will be sent by CPC for the ITR V to be sent to them for verification.
After receiving the ITR V the CPC will process the IT returns and send the 143(1) intimation which is proof of your IT returns are processed and any refund or further tax to be paid intimated and done.