1. E-Verify Your Return Immediately
This is the single most critical step. Filing your ITR is not complete until it is verified. An unverified return is considered invalid by the Income Tax Department. You have a limited window of 30 days from the date of filing to complete this process.
The quickest and most common method is e-verification through an Aadhaar-linked mobile number. When you select this option on the income tax portal, a One-Time Password (OTP) is sent to your registered mobile number, which you can use to instantly verify your return. Other popular digital methods include using your net banking portal, a pre-validated bank or demat account to generate an Electronic Verification Code (EVC), or a Digital Signature Certificate (DSC). If you cannot use these methods, you can physically sign the ITR-V acknowledgement form and courier it to the Centralised Processing Centre (CPC) in Bengaluru.
2. Track Your ITR Status Online
After e-verification, it's wise to keep an eye on the status of your return. You can do this by logging into the income tax e-filing portal. Navigate to the 'e-File' menu, select 'Income Tax Returns', and then click on 'View Filed Returns'. Here, you can see the status of all your filed returns for various assessment years. The status will progress from 'Successfully e-Verified' to 'Processed'. If the status shows 'Processed', it means the tax department has reviewed your return. If it shows 'Pending for e-Verification', you must complete the first step immediately. Regularly checking the status helps you stay informed and ensures you don't miss any important updates or actions required from your end.
3. Check for an Intimation Notice
Once your return is processed, the Income Tax Department will send an intimation notice under Section 143(1) to your registered email address. This is not a scrutiny notice but an automated summary of the department's assessment of your return. The notice compares the tax computation you submitted with the department's calculations. It will result in one of three outcomes: no tax demand or refund, a refund determined, or a tax demand raised. If your computation matches the department's, no further action is needed. If a refund is determined, the notice will confirm the amount. If there is a tax demand due to a calculation error or a mismatch, the notice will specify the amount you need to pay. It is crucial to review this document carefully.
4. Secure Your Tax Refund
If the intimation notice confirms that you are eligible for a refund, the next step is to ensure it reaches your bank account. A common reason for refund failure is an incorrect or non-validated bank account. To avoid this, log in to the tax portal and ensure that the bank account where you wish to receive the refund is 'pre-validated'. This confirms to the department that the account belongs to you. You can track the refund status separately on the portal. The status will show when the refund is approved and sent to your bank. If there are any issues, they will be flagged here, giving you a chance to rectify them, such as by re-validating your bank account.
5. Organise and Preserve Your Documents
Finally, don’t discard your tax-related documents after filing. It is crucial to maintain a comprehensive record for several years. The Income Tax Act allows the department to reopen assessments for a certain period, which is typically up to eight years in most cases. For cases involving foreign income or assets, this period can extend up to 16 years. Your records should include a copy of the filed ITR, the ITR-V acknowledgement, Form 16/16A, Form 26AS, bank statements, and proofs for all deductions and exemptions claimed (like rent receipts, investment proofs, and loan certificates). Having these documents organised will be invaluable if you receive a notice or need to file a revised return.
