Income Tax Calculation 2017-18

Income Tax Calculation 2017-18

Once you've filed your income tax return and verified it, the Income Tax (I-T) Department starts processing your return. Refund, if any is due, is issued only after processing is complete. Normally, after verification the 'status' of your ITR would be 'Successfully Verified' or 'Successfully e-Verified'. After processing is complete, the status would be 'ITR Processed'. 


During processing, the department checks if there are any discrepancies between the income declared and the tax paid by you and the data available to them. After processing is complete, the department will normally send you a notice under section 143 (1) informing you as to whether your return as filed has been accepted or there is some discrepancy. In case of a discrepancy in the department's tax calculations and yours, the notice under section 143 (1) will show additional tax payable. In case there is any refund due this will be reflected in the notice. thank you vinodbhai pate

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