4 min
23-April-2025
Filing your income tax return feels like a job well done — but it is only half the journey. The real action begins when the Income Tax Department starts processing your return. This crucial step determines if you are eligible for a refund, owe more tax, or are all set.
Whether you are a salaried professional, a freelancer, or a retiree investing in tax-saving FDs, understanding this phase helps you stay compliant, avoid penalties, and receive refunds on time.
Want your money to grow while you save tax? Open a Fixed Deposit Account with Bajaj Finance and enjoy competitive returns.
Planning to invest tour money in safe investment instrument like PPF?
FD should be your choice! Check FD Interest Rates provided by Bajaj Finance and plan your investments better.
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Looking to park your money safely while earning inflation beating returns? Check Eligibility for Fixed Deposit now and plan smarter.
If you are investing in tax-saving instruments like PPF or ELSS, don’t leave things to chance. File on time, verify early, and track your ITR status regularly.
Your ITR isn't truly complete until it’s processed. Stay compliant, stay ahead.
Calculate your expected investment returns with the help of our investment calculators
Whether you are a salaried professional, a freelancer, or a retiree investing in tax-saving FDs, understanding this phase helps you stay compliant, avoid penalties, and receive refunds on time.
Step 1: Filing and Verifying Your ITR
Before your return gets processed, it must be filed and verified.- Filing reflects your total income, tax-saving investments (like under Sections 80C and 80D), and the taxes paid.
- Verification confirms your submission — without it, your return is treated as not filed. You can verify:
- Online using Aadhaar OTP, net banking, or your Demat account
- Offline by sending the signed ITR-V form to the CPC, Bengaluru
Want your money to grow while you save tax? Open a Fixed Deposit Account with Bajaj Finance and enjoy competitive returns.
Step 2: ITR Processing Under Section 143(1)
The Income Tax Department processes your return under Section 143(1) — a quick check done without a formal audit. Here’s what they look for:- Math errors – Did you miscalculate anything?
- Incorrect deductions – Are any claims not supported by proof?
- Mismatch in TDS or tax paid – Does your Form 26AS match what you declared?
- No discrepancy – Your return is accepted as-is.
- Refund due – You paid more tax than needed.
- Tax payable – You owe additional tax.
Planning to invest tour money in safe investment instrument like PPF?
FD should be your choice! Check FD Interest Rates provided by Bajaj Finance and plan your investments better.
INVERT Widget–
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Topic | Mandatory/ Optional | Char Limit | Content to update on page |
Heading Text | Mandatory | 90 Char | Highest Credit Ratings | Trusted with 1.4 million Deposits | Assured Returns on FD |
CTA Text | Mandatory | 40 Char | Open FD |
CTA Link | Mandatory | https://www.bajajfinserv.in/webform/Deposit/depositLandingPage#fd | |
Nudge 1 | Mandatory | New Product Launch | |
Title 1 (Rate of Interest) R1 | Mandatory | 17 Char | Bajaj Finance FD Max |
Value | 10 | Up to %$$FDMAX-senhighest-interestFD$$% p.a. | |
Title 2 (Min. Deposit) R1 | Mandatory | 17 Char | Flexible Tenure |
Value | 10 | 12-60 months | |
Title 3 (Min. Tenor) R1 | Mandatory | 17 Char | Deposit Amount |
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Nudge 2 | Mandatory | Only on Website and App | |
Title 1 (Rate of Interest) R1 | Mandatory | 17 Char | Bajaj Finance Digital FD* |
Value | 10 | Up to 8.40% p.a. | |
Title 2 (Min. Deposit) R1 | Mandatory | 17 Char | Tenure |
Value | 10 | %$$FDmaxintresttenureFD$$% | |
Title 3 (Min. Tenor) R1 | Mandatory | 17 Char | Deposit Amount |
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Nudge 3 | Mandatory | Regular FDs | |
Title 3 (Senior Citizen) R2 | Mandatory | 17 Char | Interest Rate* |
Value | 10 | Up to 8.25% p.a. | |
Title 1 (Max Deposit) R2 | Mandatory | 20 Char | Flexible Tenure |
Value | 12-60 months | ||
Title 2 (Max Tenor) R2 | Mandatory | 20 Char | Deposit Amount |
Value | %$$FDexistingmindepositFD$$% to %$$FDnewmaxdepositFD$$% | ||
Title 1 (Rate of Interest) R1 | Mandatory | 17 Char | Bajaj Finance FD Max |
Value | 10 | Up to %$$FDMAX-senhighest-interestFD$$% p.a. | |
Title 2 (Min. Deposit) R1 | Mandatory | 17 Char | Flexible Tenure |
Value | 10 | 12-60 months | |
Title 3 (Min. Tenor) R1 | Mandatory | 17 Char | Deposit Amount |
Value | 10 | %$$FDmindepositFD$$% to $$FDMAXmaxdepositFD$$% | |
Field 1 | Enter your mobile number | ||
Field 2 | Please enter your 10-digit mobile number to proceed | ||
Disclaimer text | Mandatory | By proceeding, you agree to ourTerms and Conditions | |
XF Path | /content/experience-fragments/bajajfinserv/web/in/en/investment/deposits/fd/form-widget/master |
Step 3: What to Expect After ITR Processing
Once the return is processed, your dashboard will show one of these statuses:- ITR processed with no demand/refund – You are in the clear.
- ITR processed with refund – Expect the amount soon.
- ITR processed with demand – You may have to pay more tax.
Also read: Tax saving Fixed Deposit
Step 4: How to Track Your ITR Processing Status
Staying updated helps you avoid surprises. Here is how to track your ITR status:- Log in to the Income Tax e-filing portal
- Go to ‘e-File’ > ‘Income Tax Returns’ > ‘View Filed Returns’
- Select the correct Assessment Year and click on “View Details”
- You’ll see statuses like:
- Processed
- Pending
- Refund Issued
- Demand Raised
Why ITR Processing Matters More Than You Think
Income tax return processing is not just backend admin work — it directly impacts your financial clarity. It ensures that:- Your refund is released quickly
- Any errors are flagged and corrected in time
- Your tax-saving investments like Bajaj Finance FDs are properly claimed
Looking to park your money safely while earning inflation beating returns? Check Eligibility for Fixed Deposit now and plan smarter.
Component – Fixed deposit variants:-
For Web :–Topic | Mandatory/ Optional | Char Limit | Content |
Heading Text <H2> | Fixed deposit variants | ||
Description text | Highest Credit Ratings | Trusted with over 1.4 million Deposits | Assured Returns on FD | ||
Nudge 1 | Mandatory | New Product | |
Text 1 | Mandatory | FD Max | |
Subheading | Mandatory | INTEREST RATES UP TO 8.60% p.a. | |
CTA | Mandatory | Invest Online | |
CTA Link | Mandatory | https://www.bajajfinserv.in/investments/fixed-deposit | |
Text 2 | Mandatory | Digital FDOnly on App/Web | |
Subheading | Mandatory | INTEREST RATES UP TO 8.60% p.a. | |
CTA | Mandatory | Invest Online | |
CTA Link | Mandatory | https://www.bajajfinserv.in/investments/fixed-deposit | |
Text 3 | %$$FDmaxintresttenureFD$$% | ||
Subheading | Mandatory | INTEREST RATES UP TO 8.60% p.a. | |
CTA Text | Mandatory | Open FD | |
CTA Link | https://www.bajajfinserv.in/investments/fixed-deposit | ||
Text 4 | Mandatory | FD - Age below 60 | |
Subheading | Mandatory | INTEREST RATES UP TO 8.25% p.a. | |
CTA Text | Mandatory | Open FD | |
CTA Link | Mandatory | https://www.bajajfinserv.in/investments/fixed-deposit | |
Text 5 | Mandatory | FD - Senior Citizen | |
Subheading | Mandatory | INTEREST RATES UP TO 8.60% p.a. | |
CTA Text | Mandatory | Open FD | |
CTA Link | Mandatory | https://www.bajajfinserv.in/investments/fixed-deposit | |
Text 6 | Mandatory | FD – Special Tenure | |
Subheading | Mandatory | INTEREST RATES UP TO 8.60% p.a. | |
CTA Text | Mandatory | Open FD | |
CTA Link | Mandatory | https://www.bajajfinserv.in/investments/fixed-deposit | |
XF Path | /content/experience-fragments/bajajfinserv/web/in/en/investment/deposits/fd/fd-variant/fd-variant |
Final Thoughts
From filing and verifying your return to tracking the Section 143(1) intimation, every step of ITR processing matters. It is what transforms your filed return into actual outcomes — whether it is a refund, tax payable, or smooth clearance.If you are investing in tax-saving instruments like PPF or ELSS, don’t leave things to chance. File on time, verify early, and track your ITR status regularly.
Your ITR isn't truly complete until it’s processed. Stay compliant, stay ahead.
Calculate your expected investment returns with the help of our investment calculators
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