Friday, September 30, 2016

How to check the status of your tax return acknowledgement sent by post

How to check the status of your tax return acknowledgement sent by post

 

A large number of taxpayers are likely to send physically signed ITR-Vs to the CPC. In that case, here's how you can track your acknowledgement

 

According to a press release by the Central Board of Direct Taxes (CBDT), 7.53 million taxpayers used the e-verification facility to verify their income tax return (ITR) this year (till 5 August). Popularity of e-verification soared this year compared to assessment year (AY) 2015-16, when about 3.29 million taxpayers had used this facility till 7 September 2015, the last date that year. For AY 2016-17, the last date for filing ITR was extended to 5 August this year.
 
 

Aadhaar as a means of e-verification also found favour with more people. While about 1 million had used it in 2015, about 1.77 million used Aadhaar this year. Roughly 22.7 million e-returns had been filed till 5 August, "thus, over 35% of taxpayers have already completed the entire process of return submission electronically. The Department encourages all taxpayers who have submitted their ITRs to use the e-verification as an easy alternative to sending their ITR-V form to Centralized Processing Center (CPC), Bengaluru," the release stated.

 

Data, however, also shows that a large number of taxpayers are likely to send physically signed ITR-Vs to the CPC. If you are among them, do track the acknowledgement. Here's how.

 

Verification of ITR-V

ITR-V is an acknowledgement-cum-verification form that needs to be submitted after filing the ITR. It contains a summary of the return filed by the taxpayer, and can be used as proof of income for various purposes. It can be verified either electronically or physically by mailing a signed copy to CPC. There are various processes through which you can e-verify your tax return-using digital signature, Aadhaar, internet banking and even ATMs. On the other hand, offline verification can only be done by downloading the ITR-V, signing it physically and mailing it to the CPC within 120 days from date of uploading the ITR.

 

If the e-verification is not done, or the signed copy of the return is not received by the tax department within the stipulated time, the ITR filed would not be treated as a valid return.

Check your status

If you have sent a signed copy of ITR-V to the CPC, you can check whether it has been received or not. To do so, log on to the e-filing website of the income-tax department:

https://incometaxindiaefiling.gov.in Click on the e-Filing tab and under "Services", you will find the option "ITR-V Receipt Status". Enter your Permanent Account Number (PAN) here and relevant AY for which you want to check the status or e-Filing Acknowledgement Number.

 

If the duly signed ITR-V has been received within the stipulated time limit, it will reflect in the status. If it has not been received, status will not be displayed. If status is not shown, and the time limit of 120 days has not lapsed, you can resend the signed ITR-V or e-verify. Failure to do so will invalidate your return and it will not be processed by the CPC. If you fail to file your return on time, the department can impose penalties.



-----------------------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saver Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Religare Tax Plan

4. DSP BlackRock Tax Saver Fund

5. Franklin India TaxShield

6. ICICI Prudential Long Term Equity Fund

7. IDFC Tax Advantage (ELSS) Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

-----------------------------------------------

0 comments: