The Income Tax Department has said that about 73 percent of ITRs have been processed till August 22. Most of these taxpayers have also received the refund amount. The Income Tax Department gives information about the processing of ITR to the taxpayers through email.
ITRs of many taxpayers have been processed. Refund money has also arrived in their bank accounts. The Income Tax Department has said that the total number of verified ITRs is 7,13,00,901, out of which 73.71 percent ITRs have been processed till August 22. This means that processing of 26.29 percent i.e. 1,87,47,804 crore ITRs is still pending. Many questions are arising in the minds of taxpayers whose ITRs have not been processed. Some are afraid of scrutiny of ITRs, while some are afraid of some kind of mistake in the ITR.
Processing time has reduced significantly
Experts say that taxpayers whose ITR has not been processed need not fear. There can be many reasons for non-processing of ITR. Although the Income Tax Department has reduced the time taken in processing ITR significantly, but due to the large number, this process takes time. So far the Income Tax Department has not told when the processing work will be completed. This means that the processing of ITR is ongoing.
Fear of scrutiny is baseless
Taxpayers whose ITRs have not been processed need not panic. Non-processing of returns does not mean that their ITRs have been selected for scrutiny. This is because processing and scrutiny of ITRs are two different processes. In processing returns, the department mainly looks at the calculation of income and tax due on it. Then, it checks whether the taxpayers are entitled to a refund or not. In case of refund, the money is transferred to the taxpayers bank account.
Due to these reasons, there may be delay in processing
Experts also say that the reason for some ITRs not getting processed may be the difference in the name given in the ITR and the name in the PAN. In such cases, the Income Tax Department does not process the ITR. Then later the taxpayers are asked to explain the reason for this. One reason for ITR not getting processed may be the complexity of some forms. ITR-2 and ITR-3 are considered complex. These are used by taxpayers who have multiple sources of income. Therefore, their processing takes more time.
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