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Waiting for your Income Tax Refund? Your wait might be over!

While the ITR filing due date has been extended, a lot of people filed their ITR for FY 2019-20 long ago and are still waiting for their refunds. We've got some good news for these early bees.

CPC has started processing Income Tax Returns now! A few people have started receiving an Intimation for processing of ITR. Sit back, ensure your ITR has been e-verified and wait for the refund to be processed!


Based on past trends, CPC takes 30-60 days to process an ITR and issue refund. This year has been slow (obviously), because of the Covid situation. A technical update (CPC 2.0) has further delayed matters. However, it looks like taxpayers will finally start receiving their refunds.


We can assume the following based on past years:

  • ITRs filed earlier will probably be processed earlier - Those filed in June 2020 should be processed first.

  • E-verified ITRs will probably be processed before ITRs verified through the old ITR V method.

  • Nil returns will be processed in lesser time.

  • ITR 1 & 4 will be processed before other ITRs. Other ITRs (especially ITR-3) may take more time to process.

Still haven't filed your ITR? What are you waiting for? The last date is 31 December 2020. Start moving quickly!


Get a personalized quote for filing your Income Tax Return for FY 2019-20 STEP 1 Download our Sources of Income File

Sources of Income_FY 2019-20
.xlsx
XLSX • 66KB



STEP 2 Fill up file with your sources of income ​


STEP 3 Send us the file at support@thegalacticadvisors.com


STEP 4 Sit back and relax as our team shares with you a personalized quote for filing Income Tax Returns within 24 hours!


ABOUT US

Your one stop shop for Tax, FEMA, NRI taxation, Accounting and Advisory

We bring the archaic advisory practice to the 21st Century. Advisors have long been dragged down by their age old practices which just do not hold up in the current business environment.

 

We provide specially designed and multidisciplinary expert services that meet every single need of our clients. We are defined by our drive to make a difference. Just ‘good’ isn’t good enough anymore. We aim to deliver the absolute best service to our clients whether it is in providing expert tax advisory services, return filing services, book-keeping, investment advisory, or profit maximization strategies.