Filing your income tax return can be a long and tedious process. Multiple documents and verification processes make it difficult.
The tax payment process can often be delayed due to missing documents or information.
While online ITR filing is still in the bill, the Income Tax Department will send a notification via SMS or email, reminding the taxpayer to complete it. The notification from the Income Tax Department carries information about all refunds.
There can be many reasons for queue suspension. It may be because the taxpayer did not have a special document at that time, or he forgot it.
Filing of ITR is not only done by filing the return; taxpayers also need to verify their returns. Verification can be done online or offline.
Online verification of ITR can be done through Aadhaar OTP, digital signature certificate of electronic verification code generated by bank account, net banking or Demat account.
For online verification, the signed ITR-V must be sent to the Central Processing Center (CPC) in Bengaluru, Karnataka.
If you are still waiting for your ITR to be filed, you can also check its status through the income tax department’s e-filing portal. ITR filing status can be checked by submitting ITR acknowledgment number.
Income tax filing is mandatory for people with income above Rs 2.5 lakh per annum. In case of tax deducted at source, people with income less than Rs 2.5 lakh per annum have to file ITR as well.
Failure to file your income tax return by the deadline set by the IT department can attract a fine of up to ₹ 10,000 and other penalties.
Additionally, the income tax department can also issue notices in case of delay or failure, which can lead to long-term legal problems.
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