Filing income tax returns can be a long and tedious process. Multiple documents and verification stages make it difficult.
The tax filing process may often get stuck due to a missing document or information.
If the online ITR filing is still in the draft stage, the Income Tax Department will send an intimation through SMS or mail, reminding the taxpayers to complete it. The intimation from the Income Tax Department also carries information on any refund due.
There can be multiple reasons why the filing may get paused mid-way. This could be because the taxpayer did not have a particular document at the point, or they forgot about it.
The ITR filing is not completed by just submission of the return; the taxpayers also need to verify their returns. The verification can be completed both online and offline.
The online verification of the ITR can be done using Aadhaar OTP, a digital signature certificate of electronic verification code generated by a bank account, net banking or Demat accounts.
For offline verification, a signed ITR- V must be sent to the Centralized Processing Centre (CPC) in Bengaluru, Karnataka.
If you have pending ITR filing, you may also check its status through the e-filing portal of the income tax department. The status of an ITR filing can be checked by submitting the ITR acknowledgement number.
Filing income tax return is a must for individuals with an annual income of over ₹ 2.5 lakh. If any tax is deducted at the source, individuals with less than ₹ 2.5 lakh annual income must also file an ITR.
Failure to file your income tax return by the deadline set by the I-T department may result in a fine of up to ₹ 10,000 and other penalties.
Additionally, the Income Tax department may also send a notice in case of a delay or failure, which may result in prolonged legal issues.