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Home News Feed Advisory

How many days for ITR processing: Tax department could take approximately 18 days to process your ITR; here’s why

FinanceLaneby FinanceLane
August 24, 2024

Filed your income tax return on time, i.e., before July 31, 2024 and it still has not been processed by the tax department? If the ITR is not successfully processed, the income tax refund will not be credited to the bank account.

These ITR filers have only 10 days left to verify their ITRs else ITR invalid

Here is how long it takes the tax department to process an income tax return.

Time it takes for ITR to get processed successfully

Tax professionals suggest that typically, the processing of income tax returns usually takes an average of 15-45 days from the e-verification date of the ITR.

According to the rule, after you file your income tax return, it must be processed within nine months of the end of the fiscal year. If the processing time is longer than expected, the tax agency must check your return. This means that your filed return cannot stay unprocessed.

How long it might take the tax department to process FY 2023-24 ITRs

Here is a calculation of how long approximately the tax department could take to process the remaining filed ITRs for FY2023-24. ITR processed on
Aug 24: 54466177
Aug 23: 53431611
Aug 22: 52553097
Aug 21: 51577573
Aug 20: 50161742
Aug 19: 49423760

Average number of ITRs processed in a day: 1008483 (difference of daily ITRs processed/number of days taken into consideration (i.e., 5 days))

Total ITRs as on July 31: 72880318
ITR left to be processed Aug 24: 18414141 (Total ITRs filed – total processed)

Days it will take: 18.25 days (ITR left to be processed/average ITRs processed)

(These numbers are taken from the income tax department’s statistics page. )

So, going by these calculations we can expect the tax man to process the remaining ITRs in about 18-20 days.

How to track your ITR processing status?

You can conveniently track the processing status of your ITR through the Income Tax Department’s e-filing portal:
Step 1: Visit the Income Tax Department’s e-filing portal.
Step 2: Login using your credentials (PAN, password).
Step 3: Go to the “e-File” section.
Step 4: Select “Income Tax Returns” and “View Filed Returns.”
Step 6: Click on “Processing Status.”
The portal will display the current processing stage of your ITR.

What are the different types of ITR statuses?

Submitted and pending for e-Verification / Verification: This is the status when you have filed your ITR but have not e-Verified it, or your duly signed ITR-V has not been received at CPC yet.

Successfully e-Verified / Verified: This is the status when you have submitted and duly e-Verified / Verified your return, but the return has not been processed yet.

Processed: This is the status when your return is successfully processed.
Defective: This is the status where the department notices some defect in the filed return due to lack of certain essential information as required under law, or some inconsistencies. In such a case, you will receive a notice under section 139(9) asking you to rectify the defect within a specified time limit from the date of receiving notice. If you don’t respond to a defective return status, your ITR will be treated as invalid, and is not taken up for processing.

Case transferred to Assessing Officer: This is the status when the CPC has transferred your ITR to your jurisdictional AO. If your case is transferred to your AO, you will be contacted by the officer to provide necessary details.

Where can I find my acknowledgement number to enter when checking my ITR status?

You can check your acknowledgement number from your ITR-V received on your registered email after e-Filing your return. Your ITR-V is also downloadable from the e-Filing portal post login: e-File > Income Tax Returns > View Filed Returns > Download Receipt option.
You can also check your acknowledgement number (post login) for a filed ITR on the e-Filing portal using the View Filed Forms service.

26% ITRs yet to be processed after 22 days of the deadline, will your ITR come under scrutiny?

What to do if ITR is not processed

If a taxpayer’s income tax return (ITR) isn’t processed after a significant wait, they can lodge a complaint using the “Grievance tab” on the income tax portal. Additionally, the taxpayer can contact the central processing centre (CPC) using their helpline numbers.

Why does ITR processing take time?

The processing time of an ITR varies based on multiple factors, including the form selected, the complexity of the ITR, the amount of claims in terms of deductions/exemptions, and whether these are already covered in Form 16.
One factor that majorly contributes to the delayed processing of ITR is the ITR form used.
Source Link

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