- Tax Department gives 120 days from the date of filing to verify the return.
- The documents submitted during filing need to be kept securely for future reference.
- The bank details and communication address should be verified to avoid any delay in receiving tax refund
- Registered email address needs to be checked regularly should there be any intimation mail
- Refund status should be checked periodically
Filing tax returns is a chore for most salaried taxpayers. You need to collect Form 16 and all relevant supporting documents before you get on with the task of actually filing returns. If some people thought that TDS and any other deduction by the employer was as good as paying taxes, several other taxpayers think that tax filing is the end of their tax job with tax payments. Here are a few points to note after you have filed your tax returns.
Verify tax return - Although tax filing has become very easy and convenient, your task does not end with the filing. Income tax filing process is incomplete as long as you don't verify your Income Tax Return. You don't have to verify tax returns immediately after you have filed it, as the Income Tax Department gives you 120 days from the date of filing to verify your return. You have the choice to do it either physically, or take the online route.
Safe keep documents: In your eagerness to wrap up the proceedings of tax filing, do not destroy or dump the documents that you used to file returns. The Income Tax Department can pick up any tax return from your past for random scrutiny. So remember to keep your tax related documents safely. In case, you are required to file a revised return, these documents will prove handy.
"Filing income tax returns is just one part, your task as a taxpayer does not end with it"
Double check bank details and address: One may have multiple bank accounts or may be stationed in a different city when filing returns. To ensure that you get timely tax refund, you should check that the bank account details and your contact address are correct and as mentioned in the returns. Do not be a victim of your oversight to find a delay in receiving your tax refund.
Check emails: The Income Tax Department sends communication on email do not ignore mails from the tax department. For instance, the Income tax department sends confirmation email once you file your taxes successfully. They can send you important notices in case you filed a wrong return, or your taxes are due etc.
Check refund status: In case the tax authorities owe you a refund, you should keep checking its status. All you need is your PAN and Assessment Year.