After filing income tax return, the wait is for refund. The deadline for filing income tax returns for the financial year 2021-22 and assessment year 2022-23 was July 31, 2022. The IT department has sent refunds to many taxpayers, but there are many such taxpayers who are still awaiting refund. If you are one of the taxpayers waiting for the refund, then it is very important for you to know that the tax department will issue the refund only when your income tax return is processed. This information is sent to you through email and SMS about the processing of tax return under U/S 143(1).
State Bank of India (SBI) processes ITR refund. The refund is credited directly to the taxpayer’s account or a check or demand draft is sent to his address. In such a situation, you can find out the status of refund by visiting the e-filing website of the Income Tax Department. There are two ways to track this. First, TIN can be found by visiting the Income Tax e-filing website and second by visiting the NSDL website.
How to Check Tax Refund Status on Income Tax E-Filing Website?
- Firstly visit www.incometaxindiaefiling.gov.in
- Login to your account by entering PAN, Password and Captcha code details
- Click on ‘Review Returns/Forms’
- Select ‘Income Tax Returns’ from the drop down menu. Here select the assessment year for which you want to check the IT refund status.
- Click on your acknowledgment number i.e. hyperlink.
- Now a pop-up will appear on the screen, which will show the timeline of filing of return. For example when your ITR was filed and verified, date of completion of processing, date of refund issue etc.
- Apart from this, it will also show assessment year, status, reason for failure and mode of payment
TIN can also check IT refund status on NSDL website?
- Firstly visit https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
- Enter your PAN details
- Select the assessment year for which refund status is to be checked
- After filling the captcha code, click on submit, now a message will appear on the screen based on the status of your refund
increase in tax collection
According to the Income Tax Department, the gross direct tax collection in FY23 till 17 September 2022 was Rs 8,36,225 crore, which is 30 percent more than the same period last year. Net direct tax collection has also increased by 23 per cent to Rs 7,00,669 crore. During April-September, the total advance tax collection till September 17 has also increased by 17% to Rs 2,95,308 crore from the previous year.