The last date to file Income Tax Return (ITR) for AY 2025-26 is September 15. If the return is incorrect or incomplete, the refund may be blocked. To check the ITR status, it is essential to review ITR-V, filing status, bank details, refund tracking, Form 26AS and AIS reconciliation, deductions, and the intimation under Section 143(1).
Income Tax: The deadline for filing Income Tax Return (ITR) for Assessment Year 2025-26 is fast approaching on September 15. Tax experts have warned that waiting until the last minute can be risky due to potential technical glitches on the portal. If you have already filed your ITR, it is crucial to ensure it is accurate and complete. For this, verifying the ITR-V acknowledgment, e-verification status, bank details, matching Form 26AS and AIS, and the intimation under Section 143(1) is vital to avoid issues like refund delays or notices.
Confirm with ITR-V
After filing your return, an acknowledgment form, known as ITR-V, is generated on the Income Tax portal. This document serves as proof that your return has been submitted. Download it and carefully check your PAN number, assessment year, filing date, and return status. If this information matches, your return is considered to have been submitted correctly.
Checking Filing Status is Important
You can check your filing status by logging into the portal. It should display 'Successfully e-Verified' or 'ITR Filed and Pending Verification'. If it shows pending verification, it is necessary to complete it within 30 days. Verification can be done through Aadhaar OTP, net banking, demat account, or by sending a signed ITR-V to CPC Bengaluru. Without e-verification, your return will be considered invalid.
Any refund due from the Income Tax Department is directly transferred to your bank account. Therefore, it is essential to enter your bank details accurately. Verify that the account number, IFSC code, and bank name are correct. Also, ensure that the bank account is pre-validated and e-verified. Incorrect details can lead to your refund being held up.
Keep an Eye on Refund Status
If you have claimed a refund in your return, it is important to know its status. You can track your refund status on the NSDL portal or the official website of the Income Tax Department. If the refund is not received on time, it could be due to errors in bank details or a mistake in the return.
Don't Forget to Reconcile Form 26AS and AIS
Form 26AS and AIS contain your complete tax information, including details of TDS, advance tax, and other income. It is crucial to reconcile this information with the details provided in your ITR. Any discrepancies can lead to a notice from the department or your refund being withheld.
Verify Deductions
Often, taxpayers fail to claim deductions correctly while filing their ITR. Therefore, it is important to check if you have correctly included tax deductions such as 80C, 80D, and exemptions like HRA. Incorrect or incomplete information can lead to errors in your tax calculation.
After your return is processed, the Income Tax Department sends an intimation under Section 143(1) to your email. This compares your filing with the department's records. If everything is in order, it confirms the correctness. However, if any differences are found, it will mention a demand or refund adjustment.
Potential Issues Near the Deadline
Tax experts advise that as the deadline approaches, the portal load increases, leading to technical difficulties. It is therefore essential to ensure well in advance that your ITR has been correctly filed and e-verified. It is best to rest easy only after checking every detail of your return.
