Income Tax department has issued a press release in which they have provided the data regarding return e filed ,return processed and refund issued in Fy 2015-16 .Further they have thanks all the taxpayers for e filing return in such a Large numbers.
As given in headline above that 22 lakhs refunds has already been issued but if you are not part of Lucky 22 lakh then please check the following.
- Have to filed the Income Tax return ? if not, you should now , Income Tax refund is issued only after filing of Income Tax return.
- If you have already upload/filled the online return then next point is Have you verified your e filed return ? Return filing process is complete only if you have verified your return .Return e filing is not complete without completing verification process.Verification can be done through three modes
- Through Digital signature :Return can be verified through digital signature but you have spend Rs 500-600 to get a digital signature from the market. However,, If you have filed return with digital signature then no further action is required from your side
- Verification by Sending ITR-V :Second process is download ,print sign ITR-V and send it to CPC ,Bangalore office (address given on ITR-V) within 120 days from uploading of XML file or online submission of ITR form.
- Verification through Electronic verification code(EVC) : The third method is verify you return through EVC mode.EVC can be done at Later stage even if you have not selected this option at the time of uploading of return .This method is recommended in comparison to method no -2 .EVC can be done through three methods.After EVC no need to send ITR-V .As per income tax department press release out of 2.06 lakh returns filed only 38 Lakh have selected this option ,though it is the best option
- Generate EVC Directly through E filing site in one click ,However this method can be used only by persons having Income up to Five lakh and having no refund due.
- Generate OTP after Linking Aadhaar card at e filing site.
- Generate EVC through Net banking
- Generate EVC through ATM (no details available with us)
- If above steps are ok then wait for Intimation of processing of return under section 143(1) of the Income tax act and take action if any required as per details available in such intimation.
