Sending ITR-V | How to Check Status of ITR V online | Intimation under section (u/s) 143(1) | Keeping Income Tax Records | How to Verify ITR V online
If without signature income tax returns are filed online then one have to send ITR-V, to Central processing Center (CPC) Bangalore get acknowledgement of Receipt of ITR-V, then from Income Tax Department under section 143(1) wait for information.
With or without digital signature on-line filing can be done. But it is mandatory for those filing it without using digital signature to submit the ITR-V form generated on-line at Bangalore the income tax officials within 120 days of filing the return then the process of return filing is complete.
ITR-V – Income Tax Return-Verification, below the sample form is shown.
- When without using a digital signature you file your I-T return online then an ITR-V is generated. It is a one page pdf file.
- After filing your return electronically you also receive an acknowledgement email in your inbox from the Income Tax Department.
- From the https://incometaxindiaefiling.gov.in website you can also download the ITR-V form after login into it from my account ->My Return.
- This ITR-V also contain the electronic transmission acknowledgement number and as an evidence of filing for the benefit the date of the transmission of the assesses.
- How To Open ITR V: password to Open ITR V is combination of PAn no and Date of birth ie if for example Mr Tyagi with PAN number FHYDG2547V and date of birth as 15-May-1980 then the password would be FHYDG2547VD15051980.
- In dark black ink the ITR-V should be printed and clear to read.
- In blue ink you have to sign the copy of the ITR-V. Below the Bar code, bar number and bar code should be clearly seen and the signature should not be on bar code of the Form.
- In case by a Tax Return Preparer (TRP) the return was prepared, the particulars of TRP also are filled and by the TRP this verification form is countersigned.
- Along with the ITR-V you do not need to send any supporting documents. Only the one signed page ITR-V.
- On the form of ITR-V do not use stapler and also do not fold signed ITR-V.
- In an A-4 size white envelope enclose the same. From the date of filing within 120 days through the ordinary post or speed post send the envelope. You cannot courier the ITR-V.
- You can also send several ITR-V forms inside a single envelope.
- The envelope should be send to Income Tax Department CPC Post Box No. 1, Electronic City Post Office, Bangalore-56010, and Karnataka. Anywhere else in India you cannot submit ITR-V.
Your e-filing will be considered invalid if within 120 days you miss submitting your ITR-V. It will be considered that you have not filed your return yet. Then you have to file a revised return, get a new ITR-V and within 120 days submit the same. The last date of submission of ITR-V has been extended by Income Tax Department but don’t postpone or procrastinate sending your return.
For those who file on-line income tax returns without any digital signature, a new way of submitting income tax e-return has proposed by Ministry of Finance. Please note that till now this is just a proposal and in any way for this assessment year 2015-16 it would not be applicable.
How to Check Status of ITR V online
Upon the receipt of signed ITR-V, the Central Processing Centre (CPC) Bangalore dispatches an email of acknowledgement. By the following ways you can check the status of whether ITR-V is received by CPC or not.
- Check Your Email : The e-mail confirmation from CPC is sent to the email ID motioned in the ITR. Check your spam folder if you don’t get the acknowledgement.
- Login into Efilling site : On the income tax website https://incometaxindiaefiling.gov.in, it is also available. Under the tab My Account you can login in your account and check Views and Forms.
- Call as Income tax department Customer care: To enquire about the e-filing status you can also call from 9am to 8 pm to the CPC call centre number 1800-4250-0025.
- Under Service section on the e-filing website, by filing details of your assessment year and PAN or by filling the e-filing acknowledgement number on the ITR-V Receipt Status tab.
How to Verify ITR V online
Now ITRV is no longer required to be send bangalore CPC. Income tax assess can verify ITRV online by any of these two ways:
- Aadhaar card
- Net banking
Visit here on how to verify ITRV online .
Processing of Income Tax Return ( Intimation under section (u/s) 143(1)
What is Intimation under section (u/s) 143(1) of income tax Act ?
Another email is sent to the assessee after the income tax return is processed, which is called Intimation under section (u/s) 143(1). By the tax payers in response to tax return filed in response by the IT Department the information under section 143(1) is sent. The intimation as the name suggests intimates the tax payer about, any interest payable and tax or for refunds if the assessee is eligible after providing all the necessary adjustments relating to tax deducted at source, advance tax paid on self – assessment or any other amount in the nature of tax or interest.
- Through email these intimations will be received to the email address providing in filing income tax returns online and would also be sent by post.
- Before the expiry of one year the intimation shall be sent from the end of the assessment year in which the income was assessable. So intimation for FY 2013-14 or AY 2014-15 will be sent.
- With the password the intimation letter is protected. Enter your PIN number to open your document and in ddmmyyyy format enter Date of Birth/ Date of Incorporation.
Between the amounts of income it states any difference, Income Tax Payable and Deduction, Income Tax Paid or TDS as in your return started by you with respect to that computed by your Income Tax Officer u/s 143(1). You will see that there are two columns if you look at the notice:
a) As in return of Income provided by taxpayer and
b) As computed under section 143(1).
In both the columns if there is no difference i.e details provided by the taxpayer and as verified by the Income Tax Department match, then as final assessment of the return on the part of the taxpayer nothing to be done.
If tax paid is less than what is computed by Income Tax Department then this intimation becomes Notice of Demand u/s 156.
For example, by taxpayer if income as disclosed is Rs. 6, 00,000 but the department compute his income as Rs. 6, 50,000 then there will be a shortfall of tax paid. If he feels that computations by income tax department are correct then he will have to pay such tax if he thinks that the demand is wrong then with necessary procedures he must prove his case.
By the department if the tax paid is more than the income computed then such intimation will have a refund and to the taxpayer such refund will be generated. Amount of refund will be credited into the bank account as mentioned in Income Tax Return.
Keeping Income Tax Records
You need to keep the paper work even if your income tax returns are processed successfully. Under the income tax act legal proceeding can be initiated up to six year prior to the current financial year, at least seven year you must maintain Income Tax related documents. The records that you need to keep are:
- Filed return
- Form 16, Form 12 B
- Tax exemption documents
- Tax deducted at Source (TDS), Form 16A
- Gift deed
- Bank account statement
- From Income Tax Department intimations and hardcopy