All you want to know about Intimation u/s 143(1)

Now that you have filed your returns, you may be keen to know what happens post filing returns. Let us go through the process in some detail.

November 14, 2019 1:35 IST | India Infoline News Service
Tax Return Form
August 31, 2019 was the last date to file income tax returns. Now that you have filed your returns, you may be keen to know what happens post filing returns. Further, you may be eager to know how soon your returns will be processed and when will you receive the amount that you have claimed in your bank account. Let’s go through the process in some detail. 

Income tax return processing 

The ITR processing begins once your returns have been filed and verified. As a taxpayer, you need to verify the returns by sending the acknowledgement form (ITR V) by signing it in blue ink within 120 days of filing the returns. You need to send a physical copy of the form duly signed to the Central Processing Centre (CPC).
You can also choose to e-verify your returns through any of the following means: 

ITR verification

  • Netbanking
  • Aadhar OTP
  • Providing bank details on the e-filing website
  • Providing the EVC code through the department website
  • Providing details of your demat account on the income tax e-filing website 

ITR Processing Under Section 143(1) 

Once the ITR has been verified, the income tax department processes the returns and sends an intimation to you, under section 143(1) of the Income Tax Act of India. You receive a message on your registered email id and mobile number as an intimation from the IT department. Once you have verified your returns, you receive a detailed calculation of the tax as computed by you while filing the returns and that of the IT department. The whole process takes anything between 30-45 days.
However, before you can hope to receive the refund of your returns, you need to ensure that the bank account in which you wish to receive the refund amount has been pre-validated. The IT department had previously announced that they will receive e-refunds to the bank accounts in which PAN is linked and the account is pre-validated on the e-filing website of the IT department. 

What happens post the ITR processing?

Once your returns are verified, there are three possibilities that you need to be in the know of as a taxpayer.
  • Refund is determined:  If the returns that you have filed are found to be accurate by the IT department, the refund you have claimed is issued to you. The process of refund may take anything between 20-45 days from your date of e-verification. However, if you have send a physical copy of the ITR V it may take as long as 60-90 days to issue your refund.
  • Demand intimation issued: In case there are any discrepancies found in the tax computation of the return that you have claimed, the IT department sends you a demand intimation under section 143(1). You need to pay the demand intimation within a stipulated time as mentioned in section 143(1). If your case is too complex, an assessing officer may step in to take a re-look at the inconsistent information in the returns that you have filed. However, such cases are rare.
  • No demand, no refund: In case you have filed tax returns despite the fact that you do not fall under the tax bracket, your returns are classified as Nil returns. In case all the information you have provided is correct, the IT department accepts the information. The intimation you will receive under section 143(1) is that of no demand, no refund. This means that that there is no interest or tax payable or refundable to you on behalf of the IT department.
Once you have filed the returns, you should check the status of the ITR. If the returns have been processed, the e-filing account will reflect the same. 

Steps to check the status of your ITR

  • You begin by logging on to the e-filing website of the Income Tax Department
  • On the left side of the page, select ITR status
  • Fill in the PAN and the acknowledgement number of the ITR filed
  • You will then be led to Income Tax returns page
  • Select the relevant year of assessment.
  • If the status shows successfully verified it means that you have done your bit to submit and verify your return. The ITR in that case is in under processing.
  • If the status reflects processed, it means that no discrepancies have been found in the returns you had filed and the return that you had claimed should be arriving shortly in your savings account.
  • In most cases, you receive an intimation under section 143 (1) on your email id and mobile number stating that the return has been successfully processed.

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