Know your ITR Status: Why is it important to check ITR status?

The Income Tax Return (ITR) is a document that must be submitted to the Income Tax Department of India. It comprises information on a person’s earnings and the taxes that must be paid on those earnings throughout the year.

ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7 are the seven types of ITR forms required by the Income Tax Department, and their applicability is determined by the nature and quantity of income as well as the type of taxpayer.

Why is it important to check ITR status?

Once an income tax return or ITR has been filed and confirmed, the status of the return can be checked. Taxpayers should check their ITR status on a frequent basis to ensure that it has been accepted and processed. “The status indicated in your account will be ‘ITR processed’ if your return is correctly filed and processed by the department.”

If some discrepancies are found or changes are advised by the Centralized Processing Centre (CPC), Bengaluru, the return status may be changed to defective or the matter may be transferred to an assessing officer.

And another reason for checking ITR Status is that:

When you expect a refund from the Income Tax Department. If a person has paid more taxes than his actual tax burden, he will receive an income tax refund. The tax department processes a return when a person claims a refund on his income tax return. Following that, the taxpayer will receive confirmation from CPC of the amount of return to which he or she is entitled.