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How to Check ITR-V Receipt Status?

Income Tax Return – Verification, commonly known as ITR-V, is an acknowledgement that the Income Tax Department sends after it successfully receives the income tax return form of a taxpayer. After checking the verification, the applicant needs to take out a print of it, sign it and send to CPC Bangalore so as to complete the process of filing the returns. After submitting it online to the Income Tax Department the user has the leverage to check the ITR-V receipt status. For this, all they need to do is to enter his or her Permanent Account Number (PAN), an acknowledgement number of e-filing as well as the assessment year.

The user also has the leverage to check whether the Central Processing Centre (CPC) received the ITR-V and whether a digital signature was used at the time of filing the returns or not. Therefore, you need to be very careful as a little negligence of yours to follow the ITR-V receipt status can lead to serious issues, for instance, loss of refunds from taxes or payment of extra taxes. Therefore, in order to save yourself from these mishaps, it is important to find out your ITR-V receipt status via online portal.

Verifying the Income Tax Returns 

One of the first things that you need to do immediately after filing income tax returns online is that the taxpayer needs to verify the ITR-V receipt status via online portal or dispatch the ITR-V to CPC Bangalore. The process to know about how to go for it is as follows:

In order to verify your Income Tax Returns (ITR), you have two ways:

The first way is to go for electronic verification. For this, you need to log in to the official portal of the Income tax return by the government. Then you need to visit the main menu and go down to the option of ‘E-Verify Return’. Then the Aadhar Card number can be linked to PAN in order to generate an OTP (One Time Password). The password gets delivered to the registered mobile number of the applicant, which is used in order to validate the e-filing of the taxpayer. In order to verify the ITR, an electronic verification code gets generated. The EVC will be delivered to the registered mobile number along with email id of the applicant. If the annual income of the applicant exceeds Rs 5 lakhs then the EVC method to verify is used by the taxpayers.

Plus, there is a non-electronic method for ITR verification too. In this method, you need to mail a signed copy of your ITR-V has to CPC, Bangalore. The acknowledgement form needs to be sent through speed post. This must be done within 4 months or 120 days of filing the tax returns.

The mail is to be sent to the following address:

Income Tax Department-CPC,

Post Box No-1,

Electronic City Post Office,

Bangalore-560200, Karnataka

If the acknowledgement form comprises of a digital signature, then you do not have to send it to CPC, Bangalore. Moreover, if the ITR is not verified and dispatched, it is considered as a default case by the IT Department and this is the reason ITR is not processed.

Steps to Track ITR-V Receipt Status

In case the applicant has opted to go for a verification of ITR, then they need to track the status of their policy regularly. There are cases when the IT department is unable to get the receipt of the ITR because of postal loss, so this is conveyed by the IT department. So, if you do not track your ITR-V receipt status you can miss this. After Bangalore CPC receives the form, it sends an acknowledgement email to the taxpayer. This email is sent after a month of the receiving the document for income tax returns verification.

To check ITR-V Receipt Status form you need to follow these steps mentioned below:

Then an acknowledgement email is sent to the verified email ID of the taxpayer that he or she mentioned in the ITR. There are times when these mails land into the Spam folder, thus make sure that you check all folders.

One can also check the ITR-V receipt status using their PAN, e-filing acknowledgement number or year of assessment, that is located under the status tab of the ‘Services’ section of your e-filing website.

Further, to check the ITR-V receipt status the applicant also has the facility to call CPC Bangalore. 

Steps to Track the Intimation ITR-V Receipt Status

After e-verification, which is a month long process, the IT department sends the applicant an intimation email, which is under Section 143(1). Details such as total tax paid, deductions, and total TDS deducted if any will be displayed in the intimation. Moreover, information regarding the difference in the amount of income tax paid, income, deductions, income tax payable or TDS is provided along with it to the audience.

The list comprises of two columns where the status is communicated to the applicant. One is that the income tax paid on income of the taxpayer. The next detail is the income tax to be paid which is computed under Section 143(1). It is quite important for you to analyse the suggestions given under Section 143(1) which the IT Department provides. The reason for this is that the applicant knows about any mistakes or changes in details that they need to provide.

In several cases, the intimation is for the difference between the amount computed by the IT Department and the tax paid. This is referred to as Notice of Demand as per Section 156. In such cases, the taxpayer needs to pay extra tax if the intimation specifies it.

Steps to Track the Status of Income Tax Refund

The applicant can claim the refund if the IT Department computes an amount greater than the tax paid. In such cases, the refund gets deposited in the bank account of the applicant, as mentioned in the form of income tax return. To check the status of your tax refund you need to login to the Government Website using your registered account. Once your income tax return (ITR) is processed, you can check it at TIN Website.

Documents you need to retain as a Proof

Make sure you keep the income tax record along with the paperwork carefully, as the IT Department can also go for legal proceedings for the returns filed within a period of 6 years. Therefore, you need to keep all the required documents safely for a time period of about 7 years.

Following is the list of records you need for future references:

Filed ITR along with ITR-V

Form 16

Tax deducted at source (TDS) or Form 16A

Form 12 B

Bank account statements

Statements of tax exemption

Copy of Challan for tax paid

Gifts deeds

The intimation from the IT department, email copy and print out or photocopy of the same. 

A majority of us think that our job is to only file the tax returns, which certainly not true. We do not pay heed to ITR-V receipt status because we are not aware of the issues we might come across even after filing tax returns. There are a lot of taxpayers who face several issues when it comes to payment as well as refunds. Do not postpone or neglect the fact to check your ITR-V.

You may like to Read: How to e-filing income tax
Written By: PolicyBazaar - Updated: 05 November 2020
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