In this article, we are going to look at the biggest query of the current time regarding income tax. Some people are seeing some issues in that their returns have not been verified even though they have not been processed till now. This is one of the biggest problems with many people at this time. The return hasn’t been verified even now they have not been processed. So many people are searching for a solution to this issue. So we have brought the answer to this question and also given the reason for this issue. So read this article till the end to know about this problem.
As we all know the last date to file the income tax return (IR) is long over. However according to the source, till now many taxpayers have been struggling with an issue as they are still waiting for the processing of their returns. or they are waiting for their refunds by processed. There are many stages of filing tax returns which include filing of return, verification, followed by the processing of return. When all these procedures are completed then the taxpayers can see the processing completion notification in the tax filing portal. Continue to understand more about it.
Recently, the income tax department has released data that clearly shows the number of days that it takes to process the returns has been shortened in the past few years. As per the data it took around 82 days to process a return in the assessment in the year 2019-20. In 2022-23 it took an average of 16 days. and it has been reduced to 10 days in the assessment year 2023-24. So now some people are facing that they have already paid the income tax return before the deadline date which was 31st July 2023. But till now their return has not been verified. There might be a reason behind this. Scroll down to know.
One of the biggest reasons behind this issue is that the information you have submitted in the returns has not been tallied till now with the form 26AS or AIS (Annual Information Statement). Like for example if you have declared your income to be X amount and your document claims this to be Y amount, the income tax department will send a question asking for the reason for the discrepancy. So you have to justify your reason after that your return will be processed.