Things To Do After Filing Your Income Tax Returns
You have filed your Income tax return and you think that it’s done and now it's time to sit back and chill. Right! But wait, there are still certain things to do even after filing ITR. These things are very important for taxpayers to stay organized and out of trouble.
Making sure that you have followed all the obligations after filing your income tax returns gives you a different level of satisfaction and vibes of staying away from any sort of problems. We have talked below about the 5 most important things that you must do after filing income tax returns. Stay on Reading!
- Verifying You Returns
The foremost crucial step to take after filing income tax returns is to verify your tax returns within the given time. The income tax department provides you 120 days to verify your tax returns in your preferred online mode or offline mode.
In case of offline, you need to send a copy to CPC (Central Processing Centre) in Bengaluru. Although, the online process is more simple and more convenient for verifying your ITR.
Note - If you forget to e-verify your income tax returns or send an ITR-V to CPC Bangalore then the income tax department will consider your return as invalid or not filed Tax Return.
- Keep All Documents Safe - After e-filing and verifying your income tax return, you may think what to do with used documents?? You may be in rush to destroy your documents related to the e-filing procedures after using those in the verifying process of ITR.
But wait, here it is crucial to remember that the income tax department may raise any issue or query related to your ITR while processing for the same. Thus, keeping these documents safe and secure is crucial for further reference.
In case the IT department raises a need to showcase your documents then you can present your documents to them. Moreover, you can also utilize these documents to revise your income tax returns.
- Cross-check Bank details & Addresses -
Filing your income tax returns is only one aspect of the process. When filing your income tax returns, make sure that you cross-check your details. Because it may happen that you might be living in another city or have more than one bank account.
Therefore, it is a must to provide correct details about your bank account and contact information. To make sure that the tax refund is acquired timely, keep an eye on your tax refund status.
- Keep checking your emails-
Many of us do not even give look at our emails after the filing process is done. Right? It is to be noted that the income tax department makes communications through your registered email address. Thus it is more important to read your emails from time to time.
The IT department may send you an email pertaining to the notices, refund status, and tax dues. You also get notified through emails when you successfully file your income tax returns. Therefore, keep checking your emails is crucial to not miss any important communications sent by the income tax department.
- Tracking Your Refund
If you are eligible for a refund on your income tax return, it is crucial to track the status of your refund status on the income tax portal whether it has been processed or not. It is simple and convenient to check your refund status. You need to have your PAN number and the assessment year to check your refund status.
However, your task does not end here, as mentioned above. You need to keep checking on the notifications to ensure that you do not miss any important steps.
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