How to Check Income Tax Return Status 87

How to Check Income Tax Return Status

The following article is a guest post.

The general consensus is that income taxpayers are the good lot, the ones who pay their bills on time and are model citizens who uphold the virtues and morals of the nation.

What no one speaks about is that what actually drives them to pay their tax, and how many actually get their share back through income tax return. The fact is that tax is something that is part of the societal makeup, so it is not something that is always done by choice.

Those Who File Returns are The Actual Winners in This Game

But the actual winners here are those who are aware of what the advantage of filing income tax return is, and who actually go ahead with the same.

Many people who start off with jobs are not told about or don’t know what and how to file their income tax return status. They don’t even know what it entitles them, and what its importance is.

So here’s a brief lowdown on what income tax and income tax return for the uninitiated.

What is Income Tax?

Income tax is a form of tax that is imposed on individuals/groups/entities (called taxpayers) that depends on what their income or profit (known as taxable income) is.

In many instances, authorities call tax levied on business organizations as corporate or companies tax. In a partnership firm, the tax is imposed not on the entity itself but on each partner and their share of profits.

Taxation Reforms Are All Modern Additions to Assist Governance

A modern concept, taxing helps make sense of economies, accounts, receipts expenses, profits and helps maintain an orderly society based on the maintenance of records.

The precursor to tax can be seen in the form of practices like tithing, or an offering of fruits, which was prevalent in ancient times.

Criticism Has Been Abound as Well.

If there is any criticism of this modern practice, it has been that individuals/organizations have found ways to maneuver the rules and find ways to either pay less tax than they are eligible to or completely avoid doing so.

This leads to lawmakers having to add extra rules and legislation in order to close said loopholes, which could make the whole process complex and cumbersome. And the fines that are levied on defaulters are such that the more privileged are able to afford them without hassle, which obviously means they are at an advantage.

What is Income Tax Return?

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Income tax return is a kind of refund or repayment that is made to taxpayers by those within the income tax jurisdiction when their tax liability is less than the actual taxes that they have paid.

This refund is normally paid at the end of the tax year. It is also termed as income tax rebate.

There are many criteria under which someone is eligible for income tax return:

  1. If more tax has been paid as self-assessment by the taxpayer whereas he is accountable to pay a smaller amount of tax through regular calculation
  2. If the TDS (Tax Deducted at Source) that is crossed off by the employer of the taxpayer or the bank is more than the latter’s accountability through regular taxation
  3. If an income of the taxpayer has been taxed twice (in an overseas country, where the Indian government has agreed to waiver off double taxation, and India as well)
  4. If there were some investments that could have provided tax benefits to the taxpayer but were not declared by him/her

In India, people can claim income tax return by filing their return of income. The due date for filing their IT return forms is normally the 31st of July each year unless there is an extension of some kind.

How Much Can One Expect Back as IT Refund?

To find out how much income tax return someone is owed, they need to calculate their actual tax liability.

If taxes that were paid are more than what one’s tax liability, then the excess amount will be refunded to the person by the tax department.

There are many online sites that help people calculate how much tax they were liable for, and whether they are eligible for getting any kind of return.

So How Does Someone Who Has Applied for a Return Check The Status in India?

Once someone has filed their income tax return and gotten it verified, the IT department will begin processing the same. As expected, the liable amount is only paid once the processing is complete. here are the following steps:

Without login credentials:

  1. Click on the ITR Status option on the extreme left corner of the screen, under the services tab
  2. A new page will appear, where the PAN number needs to be filled, along with ITR acknowledgment and a CAPTCHA code. Then click submit.
  3. The following page will display the status of the income tax return on the screen.

With login credentials:

  1. After keying in the ID and password on the homepage login option from the above link, a page will appear with an option to ‘view returns/forms’.
  2. Select that option, and in the next screen that appears, select the tax returns option and year and click submit.
  3. The following page will display the status of the process.
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The Importance of Exercise to Your Professional Success 4

The Importance of Exercise to Your Professional Success

In today’s world, most jobs are demanding both physically and mentally. Competition is not always based on the best resume, education, or experience. Having the upper hand in your profession is most likely linked to your ability to think quickly, act appropriately, and carry out difficult duties with the utmost quality.

You need to be able to bring something new, different, and maybe even better to the table. So, how can you get the edge? How can you maximize your professional potential and output?

Believe it or not, the answer to that question might be found outside the workplace. It may be what you do when you are not at work that makes the difference in your work. What is it? EXERCISE, that’s what!

Replace Some Screen Time or Other Time Wasters.

Everyone needs to take a break from the workday. Television, gaming, social media, and video-viewing are what we often go to for this.

Try replacing some of your downtime with exercise, or trying exercising while you are in front of the screen. Exercising instead of sitting will not only help relieve some stress from your day but also help release some built up tension so you can actually rest better at night, helping you be better prepared for the next work day.

Exercising a few hours before bedtime elevates your body temperature. When your body temperature returns to normal, your brain and body are ready to sleep.

Exercise Sharpens Your Thinking.

It is a fact that as we age, our cognitive abilities decline.

While researchers may not have found the cure for dementia-related disorders, they do know that exercise helps delay onset or slow down its progression. Exercising during the years of 25 – 45 can boost the brain chemicals that prevent shrinking of the brain. It has also been shown to create new brain cells and increase proteins found in the brain that help keep thinking skills sharp.

Exercise Reduces Sick Time.

Exercise improves general health functioning and helps build your immunity to illnesses.

It has also been shown to increase our ability to think and work under stress, rather than giving in to the stress and being more susceptible to illness.

This keeps you reporting to work on a regular basis, and taking less sick days. The more you are at work, the more productive you are, and the more your employer values you.

Working Out Increases Your Stamina.

Long work days can leave you drained and listless. If you know you are facing long meetings, strenuous work sessions, or overtime for increased production demands, you can prepare to meet these challenges head-on.

As you exercise, over time your stamina will be able to withstand longer and more strenuous workouts. It also translates into helping you stay sharp during those long, arduous workdays.

Yes, How You Look Does Count.

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While it may never be mentioned, your appearance is noticed by employers, co-workers, interviewers, etc. You do not necessarily need to look like a buff bodybuilder, but having a svelte, strong appearance is a benefit.

Other’s first perception of you is of great importance. Think about interviewing prospective employees. Honestly consider the impact of their first impression on their employment outlook. Healthy looking is definitely a check in the “yes” column.

Energy levels are also higher when you are exercising regularly, and your energy is part of how you are perceived overall. When you start to feel better about yourself, you begin to present a more positive image to your coworkers.

It Boosts Your Confidence.

When you have conquered a goal in your exercise plan, like being able to run an entire mile instead of having to stop and walk some, you know you have accomplished something. You are on your way to bigger and better goals.

There may have been times along the way that you felt like that milestone would never come, but here it is. You feel proud and motivated to keep working toward your next goal. You see the fruits of your labor. You are energized and begin to feel better about yourself overall.

You begin to feel a sense of accomplishment that does not leave when you exit the gym doors. You carry that as a boost in your confidence as you go into work.

Bring the Habits of Exercise to Work.

What else do you learn through exercise? Goal setting, resilience, perseverance, learning new things, taking chances, organizing and managing your time, just to name a few. These are great skills to boost your performance at work, too.

You begin to realize that you can take what you have learned through setting up and sticking with an exercise plan to the workplace. You can use all these skills in your career. As you do, you will become more confident and thus, more effective in your daily tasks.

All of these are learned by starting, committing to, and following through with a fitness plan, and can become more of a life plan.

If you are looking for a job, being physically fit might not get you the job, but it will definitely help your chances. Your first impression is incredibly important, so do not brush off exercise and fitness lightly.

Exercise has so many benefits like sharpening thinking, building stamina, increasing energy, reducing negative effects of stress, building immunity, and boosting self-confidence. This can really help you in your professional success.

The benefits extend beyond your exercise time.

They stay with you day in and day out. If you are not currently exercising regularly, just start today, doing something small. Some sit-ups in front of the television, taking the stairs instead of the elevator, cleaning up your diet, or increasing your walking pace as you move around the office are good ways to get started. You will feel the benefits, even with these small steps.