Satya (Professional) (92 Points)
05 October 2016For the assessment year a return was filed on Aug 5th. Online status of the return shows as Processed. Also a text message was received saying : ITR for PAN: ACHxxxxx5K, AY 2016-17 and Ack No.XXXC6 has been processed at CPC.Order u/s 143(1) will be sent by email.
What does this status mean ? Is the assessment complete ? Is the return revision not possible any longer ??
Regards
CA Tanvi Sheth
(Consultant)
(232 Points)
Replied 05 October 2016
Hello,
ITR processed means it has been reviewed by the department and is in order with their records and data.
If there is any mismatch then it will be shown under the intimation you will get u/s 143(1).
Return can be revised even after 143(1). The status processed means reviewed and acepted by the Income Tax department.
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