Good news! CPC has started to process Income Tax Returns from 23rd November 2020. Hope some taxpayers have already got Intimation from Income Tax Department u/s 143(1) at their registered email id. So, if you filed and verified your ITR successfully, your ITR will be processed soon.
Generally, CPC takes 30-60 days to process ITR and issue a refund (if any). But the situation is different this year due to COVID-19. Also, a technical upgrade (CPC 2.0) for faster processing of ITRs could be the reason behind the delay in processing ITRs.
According to observation, it can be said that :
- ITR filed in June 2020 will be processed first and then ITR filed in subsequent months will be processed.
- Electronically verified ITR will be processed in lesser time and physically verified (via post) ITR will take more time to process.
- Nil returns will be processed in lesser time.
- ITR 1 & 4 will be processed in lesser time and other ITRs (especially ITR-3) will take more time to process.
Also, the format of the Intimation letter u/s 143(1) has been changed a little bit (The intimation letter is starting with the Hindi version and followed by the English version).
Tags income tax