Income Tax Refund Status: If you have not yet filed ITR Filing, then do this work as soon as possible. Because this time also the last date to file ITR is 31st July.
Yes, you may face problems after a few days due to increase in traffic. Apart from this, it was told by the Income Tax Department that till July 11, 2023, more than 2 crore income tax returns have been filed for the financial year 2023-23. This number is more than last year’s figures.
Maybe you have also filed ITR. In this, the next question is whether your refund has come yet or not. If it does not come, then you may have made a mistake. That’s why it is necessary to cross check it once. However, now the process of return is very fast and now Income Tax Refund comes in 7 to 10 days. Still, if your refund has not come, then you may have made some mistake.
Reasons for delay in refund
1. Not giving complete information in ITR
If incomplete information is given in your ITR, then your refund can be stopped. For this you can check ITR preview. After this you can connect with your assessing officer with other information and documents.
If you have not paid any kind of tax due to tax or if there is some kind of mistake in your calculation, then also you can get income tax notice. Your refund of any kind can be stopped by the Income Tax Department on receipt of the notice.
3. Mistake in refund request
You may receive a notice from the Income Tax Department if there is any mistake in your refund request. In such a situation, your calculation may be wrong, then you need to file Rectification ITR.
4. Irregularity in deduction:
Many times this thing gets caught after ITR filing. On checking, you can see that you have made some kind of mistake regarding ITR deduction. In such a situation, if you have not claimed the correct deduction, then you will have to file Revised ITR.
5. Incorrect bank account information
If in any way your bank account information is entered incorrectly, your refund may be withheld. Actually, it is most important for your account details to be correct for refund. Check once, if the details are not correct, in this case you will have to request a ‘refund re-issue’.