Income Tax Refund Delay 2025: Millions of taxpayers filed their income tax returns months ago, but they still haven’t received their refunds. Every morning, taxpayers are checking their bank accounts, but their refunds haven’t arrived. Why are ITR refunds so delayed? CBDT Chairman Ravi Agarwal himself has provided the answer. Let’s explore the details.

CBDT Chairman Explains These Reasons
Inaugurating the Taxpayers’ Lounge at the India International Trade Fair 2025 on Monday, CBDT Chairman Ravi Agarwal said, “In many cases, incorrect or excessive deduction claims have been made. These are being investigated. While small refunds are being issued regularly, the department is taking precautions with suspicious returns. Many taxpayers have been sent messages asking them to file revised returns.” He further stated, “We are trying to ensure that all remaining refunds are issued this month or by December.”

Interest will be charged if the refund is delayed.

Furthermore, he stated that if the refund is delayed through no fault of yours, the government will transfer the refund along with interest. Under Section 244A of the Income Tax Act, taxpayers receive simple interest at the rate of 0.5 percent per month for delayed refunds. However, there are certain conditions.

1. If the ITR is filed on time, interest will be charged from April 1, 2025.

2. If the ITR is filed late, interest will be charged from the date of filing.

3. Interest continues to accrue even during scrutiny, provided the delay is not due to you.

4. However, if the refund is less than ₹100 or is due to an overpayment of self-assessment tax, no interest will be charged.

Refunds can also be withheld due to these five reasons:

1. If the form does not match Form 26AS, AIS, or TIS, the refund is withheld. Refunds can also be withheld due to TDS credit errors, such as incorrect TAN, outdated invoices, or differences in net-gross interest.

2. Furthermore, returns with foreign income, capital gains, income from multiple sources, or high-value transactions face increased scrutiny. This often results in refund delays.

3. Refunds can also be withheld if the taxpayer’s PAN is inoperative, TDS credit is denied, e-verification is not performed, the bank account is not active, or the PAN is not linked to Aadhaar.

4. Furthermore, if e-verification is not completed within 30 days of filing the return, the return is considered invalid.

5. Refunds can also be withheld if there is any outstanding tax from the previous year.

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Income Tax Refund: For the past few months, a large number of taxpayers have been worried about the delay in their income tax refunds. People are constantly questioning on social media platforms why refunds haven’t been issued even weeks, even months, after filing.

In many cases, returns are showing as “Under Processing,” some have received “Defective Return” notices, while many taxpayers are simply at a loss for the reason for the delay. This begs the question: why are refunds delayed, and what steps should taxpayers take to receive their refunds on time?

Increasing complaints on social media

Delays in tax refunds have become common in the past few months. Many people have written that they have filed revised returns or are awaiting refunds due to complex entries such as foreign investments, capital gains, or advance tax payments.

Many taxpayers have received their refunds, while others have been waiting for months. Tax experts say that factors such as high CTC, multiple income sources, or investment complexity slow down the refund process.

5 Major Reasons for Refund Delays

• The department conducts additional scrutiny on refunds exceeding ₹1 lakh, which delays processing.
• Returns that include foreign income, capital gains, or multiple income sources must undergo manual verification.
• Refunds that receive a ‘Defective Return’ notice under Section 154 may be withheld until a new ITR is filed.
• Sometimes, government liquidity constraints cause large-scale refund delays.
• If you filed a revised ITR, it takes longer for the system to process the new data.

What types of refunds are processed quickly?

Tax experts say that delays in refunds are due to technical scrutiny as well as administrative reasons. The department, especially for high-value refunds, requires additional verification. If there are any defects in the return, the system blocks it and requires the taxpayer to file a new ITR.

Simple return forms like ITR-1 (Sahaj) are generally processed quickly. However, complex forms like ITR-2 and ITR-3 may experience delays. Therefore, it is important that taxpayers periodically check the status of their returns on the Income Tax e-Filing Portal to determine if there are any pending notices or information from the department.

Other Reasons for Refund Delays

• Refund delays can be caused not only by departmental investigations but also by minor errors made by the taxpayer.
• If you fail to verify your ITR after filing, the return becomes invalid and the refund is not issued.
  If the tax credit shown in the return does not match Form 26AS or Annual Information Statement (AIS), the department may withhold the refund.
• Sometimes, even minor discrepancies in the amounts reported by the bank, employer, or financial institution can stall the refund process.
• In such cases, you should visit the CPC portal to file a grievance and resolve the mismatch.

ITR Filing Deadlines and Rules

The last date for filing ITR for non-audit cases for the financial year 2024-25 (FY25) was September 16, 2025. This date was previously extended twice from July 31. First, to September 15, due to major changes to the ITR form. Then, it was extended by one more day, to September 16, due to technical issues with the portal.

Those who have not yet filed their ITR can file a belated return by December 31, 2025. However, they will be subject to a late fee.

Filing your return before the end of the year is essential to avoid penalties or notices.

What to do if your refund is stuck

• If your refund hasn’t arrived for a long time, there’s no need to panic.
• First, check whether you’ve verified your return.
• Then, match the data in your Form 26AS and AIS with your return.
• If there’s a mismatch, file a grievance on the CPC portal.
• If you’ve filed a revised return, be patient. Its processing time is longer.

Delays in tax refunds are not uncommon. But by being vigilant and providing correct information, you can quickly overcome this problem. Keep your documents updated, regularly check your refund status on the portal, and respond promptly to any notices. This increases your chances of receiving your refund quickly.

Property Buying Tips : Before buying your dream home, keep these important things in mind, otherwise you may incur huge losses.

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Income Tax Refund Delay: Many people are worried about their income tax refunds because their money hasn’t yet reached their bank accounts. If you’re one of them, there’s good news. If you’ve filed your return without any mistakes, you’ll receive your money soon. Some people are wondering if the Income Tax Department will charge interest on late refunds due to the delay in their refunds. Let’s find out the Income Tax Department’s rules.

If you filed your ITR before September 16th and your refund hasn’t yet been credited to your bank account, there’s no need to despair. The Income Tax Department charges interest on late refunds. According to Income Tax Department rules, taxpayers receive interest from April 1st until the money reaches their bank account.

However, if you filed your ITR late, you won’t receive interest starting April 1st. You’ll receive interest from the date you filed your ITR. Consequently, late ITR filers may lose interest. In such a situation, if your ITR hasn’t been received yet, the Income Tax Department will pay you interest on the late refund. However, if you made a mistake while filing your ITR, your refund could be delayed.

Let’s find out why refunds are delayed.

• If the bank details in the ITR are incorrect or the IFSC code is mismatched, the refund is not credited to the bank account.
• If there is a discrepancy between the information provided in the ITR and Form 26AS (TDS/Tax Credit Statement), the refund process gets stalled.
• For those who have filed a revised ITR, the refund process may take longer than usual.
• The Income Tax Department selects some ITRs for scrutiny. In such cases, the refund process gets prolonged.
• Refunds for those who file ITRs close to the due date are often processed late.

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Why is there a delay in refund?
If taxpayers have made any mistakes in the refund, they may have to file a revised return. As per the guidelines of the Income Tax Department, the refund process starts as soon as the ITR is filed. In case of e-verification, the refund is received quickly. However, in some cases the refund gets stuck. Most of the cases are those where e-verification has not been done within 30 days of filing the ITR or the bank details have been entered incorrectly.

Therefore, it is important that ITR is filed correctly and e-verification is done within 30 days. If this is not done, the return may be invalid. The Income Tax Department starts the refund process only after e-verification.

What to do if you don’t get a refund?

• Those who file ITR-1 usually get their refund within 10 to 15 days.
• Those filing ITR-2 may take 20 to 45 days.
• It may take about two months for those filing ITR-3 to receive their refund.

If there is a delay in the permit, one can call the Income Tax Department’s passport number 1800-103-4455. Apart from this, officials can also be contacted through mail by emailing at Ask@incometax.gov.in.

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What is the matter- As per the current rules, if your income does not come under the tax bracket but TDS has been deducted from the bank or job, then it is necessary for you to file ITR to get a refund.

If you do not file ITR on time, then there is a risk of penalty or prosecution – even if you do not have any tax liability.

What will be the effect-

This provision has the greatest impact on people whose income is limited, such as:

Senior citizens

People living on pension

Temporary/contract employees

Small investors from whose FDs TDS is deducted

Most of these people do not come under the tax bracket, but still they are forced to file returns just for the refund.

What the committee says-

The Lok Sabha Select Committee has recommended the removal of sub-clause (1)(ix) of Section 263, which makes filing of ITR mandatory for refund.

The committee report says that forcing people with low income to file ITR only for refund is an undue burden. Failure to do so also creates a fear of punishment – which is wrong in practice.

What will change if the recommendation is accepted?

People whose income is less than the basic exemption limit will not be required to file ITR for refund. There will be no fear of penalty or legal action. Simplicity and justice will increase in the system.

What does it mean for taxpayers- If you file ITR every year only for refund, then now this compulsion can end. This will provide great relief to the elderly and people with limited income. The tax system will become more taxpayer-friendly.

What happened in Parliament

Bill introduced: 13 February 2025

Sent to committee: Same day

Report presented: 21 July 2025 (Select Committee Chairperson Baijayant Panda)

Members in the committee: 31 Lok Sabha MPs

Overall- If your income is less than the tax and you file returns only for refund, then the upcoming law can give you freedom from this hassle. This change is being considered a big step towards a simple tax system and respect for honest taxpayers.

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The last date for filing Income Tax Return (ITR) is approaching. ITR can be filed till September 15, 2025 without any charge. Also, if you think that it takes a lot of time to get income tax refund, then now the times have changed. In the last 11 years, tax refunds have not only increased rapidly, but the time taken to process them has also reduced significantly.

The Income Tax Department had issued a total refund of ₹ 83,008 crore in the financial year 2013-14, but this has increased to ₹ 4.77 lakh crore in the financial year 2024-25. Thus, there has been a tremendous increase of 474 percent in refunds in the last 11 years.

Long waits for refunds are now a thing of the past!

Not only that, while earlier it took an average of 93 days to receive a tax refund, this time has now been reduced to just 17 days, meaning taxpayers will no longer have to wait long.

The number of people filing ITRs has also doubled.

In addition, the number of people filing Income Tax Returns (ITRs) has also more than doubled. There has been a 133 percent increase in income tax returns filed since 2013. While 3.8 crore income tax returns were filed in 2013, now in 2024, this number has increased to 8.89 crore. In addition, total direct tax collection has increased by 274 percent from Rs 7.22 lakh crore in 2013-14 to Rs 27.03 lakh crore in 2024-25.

Reforms in the tax system

Government sources say that digitization of the tax system, faster processing and better technology are the reasons behind this reform. Digital India and transparent tax system have made this entire change possible.

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According to NPCI, the new system has been created specifically for government departments. It will connect directly to the main system of banks and verify the PAN details, bank account status and name of the account holder instantly. Since this is a service provided to the government, all member banks have been instructed to implement it on priority.

Impact on customers

This new facility will make income tax refunds and government benefit transfers faster and error-free. It will reduce delays by verifying details instantly and also reduce the risk of fraud. This facility will help taxpayers get their refunds faster, as bank account and PAN details can now be verified instantly.

Instructions to banks

To implement this facility, banks will have to upgrade their systems as per NPCI’s secure software standards, which may require major changes. This will ensure faster and error-free refunds to taxpayers. This step is another strong effort towards the Digital India campaign.

This will be beneficial

1. Instant verification of PAN-bank account will be possible in real-time

2. The process of income tax refund will now be faster and more accurate

3. Benefits of government schemes (DBT) will also reach the correct accounts.

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Last year, from April 1, 2023 to November 30, 2023, the Income Tax Department had issued a tax refund (ITR Refund) of Rs 2.03 lakh crore.

In a statement issued by the Finance Ministry, it was said that the acceleration in the refund process this year reflects the concrete efforts of the Ministry and the Central Board of Direct Taxes (CBDT) has played an important role in achieving this feat.

The Finance Ministry in its year-end review said that 26.35 per cent of IITRs for FY 2024-25 have been settled within just one week of processing, as against 22.56 per cent during FY 2023-24. This year-on-year jump not only reflects the capacity of the system but also the active participation of taxpayers in adhering to the deadlines.
According to data, at its peak this year, the Income Tax Return portal handled over 900 filings a second and around 70 lakh ITRs (Income Tax Returns) in a day.

Record 1.62 crore ITRs processed in a day

The statement further said that a record 1.62 crore ITRs have been processed in a day for the assessment year 2024-25. The highest number of 69.93 lakh ITRs were issued on 31 July 2024. As of November 22, about 8.50 crore ITRs have been submitted. This is 7.32 percent more than the ITRs submitted last year.

“The Central Board of Direct Taxes strives for greater transparency by timely release of data and assists taxpayers through timely awareness campaigns,” the statement said.

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ITRs in which refund is not made, their processing is done in just a few hours, but cases with higher refund amount take time. Many taxpayers have received tax refund within 10 days but sometimes it can take a few months.

Didn’t get refund even after filing ITR?

If you had filed Income Tax Return (ITR Filing 2024) on time, and have not received the refund till now, then there can be many reasons for this. In such a situation, taxpayers waiting for the refund can know the reason for the delay in getting the refund with the help of the steps given below. Here we will also tell you what you have to do to get the refund quickly now? So let’s understand it step-by-step…

Know why there is delay in getting Income Tax Refund?

If your Income Tax Refund has not arrived yet, one reason for this could be delay in processing (ITR Processing Delays). It is also possible that you have not seen the notice sent by the Income Tax Department, in which you would have been asked to correct the mistake made in filing the return.

Tax refund not deposited in bank account? Do this immediately

Step 1- First of all log in to your income tax account. You can use your PAN number as a login ID. Or you can also log in to the income tax portal through your net-banking account.

Step 2- After logging in, check the status of your income tax return. If it has not been processed yet, it means that you will have to wait for some more time.

Step 3- If your return has been processed (ITR Processing), it means that the refund amount should be deposited in your given bank account within a few days.

Step 4- If you see this message there – ‘Refund failed due to bank validation’ then it means that you have to validate your bank account.

Step 5- If you have received an Income Tax Intimation Notice from the department under section 143 (1) and the refund is less than the claim made by you, it means that some deduction has been rejected by the tax department or any tax credit is not available in your 26AS. In such a case, after making corrections in the information given earlier, you will have to file a rectification request. For this, you can take the help of your chartered accountant or tax advisor.

Step 6- If you have not verified your income tax return, then you should verify it immediately (Tax return verification). You can verify it both online and offline (e-Verify Your Income Tax Return Online). If you have sent the signed ITR- to the Central Processing Center (CPC) within 30 days of filing the return but the status has not been updated, then you will have to go to the income tax portal and file a complaint. The ITR filing process is considered complete only when it is verified (E-verification of ITR). If you do not verify your ITR within 30 days of filing, then you will have trouble.

With the help of these steps, you can understand the reason for the delay in issuing the refund and resolve it. This will process your refund quickly. And after this the refund amount will also come to your account.

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Income Tax Refund: Refund has not come after filing Income Tax Return (ITR) . This time many taxpayers are facing this problem. If you are also among those who are waiting for refund after filing your ITR, then there is no need to worry. Delay in getting refund is a common problem, which troubles many taxpayers. It is important to know when the refund money should come and what can be done if there is a delay in the refund so that you can exercise your rights and get your refund money. Let’s know.

Due to this there may be a delay in getting the refund

CA Adarsh ​​Jha, MAG Auditor, GMR Group, said that if the taxpayer has not completed the verification process of his ITR through Electronic Verification Code (EVC) or by submitting signed ITR-V to the Central Processing Centre (CPC), the refund process may be delayed, and the taxpayer has to e-verify the return within 30 days from the date of filing the return.

Refund may also be stuck due to these reasons

Discrepancies in ITR, such as difference in income, error in bank account information, error in PAN details etc. can also cause delay in refund. Apart from this, non-matching of income with 26AS and AIS, incorrect bank account information, error in PAN details can also cause delay in refund. He said that nowadays the Income Tax Department uses advanced tools to verify the details in the Income Tax Return before issuing the refund.

Also Read- Tax Saving Tips: Invest money in these 5 schemes, get huge profits and save income tax also

What to do now if there is a delay in refund?

Adarsh ​​Jha said that if the refund is delayed, the first thing you should do is check the status on the Income Tax e-filing portal. This will let you know the current stage of processing and any issues that need your attention. If the delay is too much and unexplained, you can lodge a complaint through the ‘e-Nivaran’ section on the e-filing portal or contact the CPC helpline for updates. If a refund fails due to mismatch of bank account, first update the bank details in the Income Tax portal and then request for re-issue of tax refund.

Request a refund to be issued this way

How to request for re-issue of income tax refund? Regarding this, CA Adarsh ​​Jha told that log in to the ITR e-filing portal and go to the ‘Services’ tab and click on the ‘Refund Reissue’ button. After this a new webpage will open, click on the ‘Create Refund Reissue Request’ option there. After this, select the ITR for which you want to re-issue the refund. After this, select the bank account in which you want to receive the refund. If your bank account is not verified, then first it has to be verified and then go ahead and choose Aadhaar OTP, EVC or DSC to verify.

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Income Tax Refund: Rahul, who works in the IT sector, had filed ITR on time this year as well, like every year. Last year his tax refund came after a week, but this time it has not been processed yet. Now Rahul is worried. Actually, filing ITR timely does not mean that you will get your refund soon. There are many steps in the tax refund process. If something goes wrong in any step, then the entire process may get delayed.

This can cause delay in tax refund

You are eligible for tax refund when the tax already paid by you is more than your actual tax liability. The Income Tax Department calculates it after considering all deductions and exemptions during assessment. Income Tax Return (ITR) refund can be delayed due to many reasons. If the taxpayer has not done his ITR through Electronic Verification Code (EVC) or through Central Processing Center (CPC), then his refund can be delayed.

Income figures not matching is also the reason for delay

Apart from this, errors in ITR details like non-matching of income figures, wrong bank account information or error in PAN details also cause delay in ITR processing and refund. In cases where the ITR involves complex income sources or various deductions, such ITRs need to be proceeded manually. This is the reason why processing and refund of such ITRs can usually take more time.

Apart from this, delays can also occur due to backlog in CPC. Especially during peak filing or due to non-compliance of the notice or request of the Income Tax Department by the taxpayer. Therefore, any taxpayer should try to file his return well before the stipulated time limit.

Also Read- Belated ITR: What is the process for filing belated income tax return, what is the penalty?

What to do in case of delay in ITR refund?

If your refund is also getting delayed, then you should first check the status on the Income Tax e-filing portal. This will give you information about the current status of processing. If the reason for the delay in your refund is not clear, you can register a complaint by going to the ‘e-Nivaran’ section on the e-filing portal or you can also contact the CPC helpline for updates. It is important to respond quickly to any notice or request from the Income Tax Department as delay in your response may increase the processing time.

How to raise the issue of tax refund

If your refund process is stuck for a long time, then you may have to file a re-issue request for refund. How can you do this? Let’s know-

• First of all go to the ITR e-filing portal and login with your credentials.
• After this go to the ‘Service’ tab and click on the ‘Refund Re-issue’ button.
• Now a new webpage will open. Click on ‘Refund Reissue Request’. Now select the ITR here and you want to request for re-issue of refund.
• Here select the bank account where you want to receive the refund. If the selected account is not verified then you have to verify it first.
• Now click on Proceed and choose a verification method Aadhaar OTP, EVC or DSC. Complete the process after receiving the OTP.

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The last date for filing ITR was 31 July. According to the information given by the Income Tax Department, 7.28 crore returns have been filed till the last date. After filing ITR, tax payers wait for their refund. Because now after July, the month of August is also going to end, so everyone is eagerly waiting for the refund.

Income Tax Refund Delayed: If you are still waiting for the refund even after filing ITR on time, then this information is going to be useful for you. Here you need to understand that there can be many reasons for the delay in getting income tax refund. These reasons are listed here-

Also Read:- Income Tax Notice: Did you also get 143(1) intimation notice? How to answer? Know everything

Why is there a delay in getting income tax refund?

• ITR not verified
  Not only filing ITR, but also verifying ITR is important. It is necessary to verify ITR using Aadhaar OTP. If this is not done, there may be a delay in refund.
• Error in account details
  If you have given wrong information about your bank account, then this can also be the reason for delay in refund. This can happen due to bank account number, IFSC code, micro code or wrong name.
• Filing wrong return
  If you have filed ITR return but any kind of information in the return is incomplete or wrong, then a notice is received under section 139 (9). 15 days are also given to correct this mistake. In such a situation, this can also be the reason for delay in refund.
• High amount
  If you have filed ITR and are now waiting for refund, then high amount of refund can be the reason for delay. Income Tax Department closely examines the refund of high amount. Only after this the refund is processed.

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After filing income tax returns, taxpayers are now waiting for their refund. The income tax department first processes the ITR. If it finds any discrepancy, it can ask questions to the taxpayers. If it does not find any discrepancy in any ITR, it processes it. Its information is sent to the taxpayers via email. The department has started the work of processing the ITR. The information of the ITRs which have been processed has been given to the taxpayers. Many taxpayers have also received refund. Have you received the refund money?

Income tax department is sending message

The Income Tax Department is giving information about refund through SMS. Therefore, you should check your SMS once. If there is no such message, then you should check your email. Then you should check the balance of the bank account. If your refund has not arrived, then you can log in to the e-filing portal of the Income Tax Department and check the status of the refund.

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Check status on e-filing portal

You can log in to the e-filing portal with the help of your IT and password. After that you have to go to the ‘View Return/Forms’ option. After that you have to select ‘Income Tax Return’. To see the status, you have to click on the acknowledgement number. Here you will know whether your return has been processed or not. If you have any issue with the return, then you will also know about it. If it is written here ‘Processed with no demand no refund’, then it means that your return has been processed, but no refund is being made for you.

check bank account details

Many times, refunds are delayed due to incorrect bank account details. Therefore, taxpayers should check whether the bank account details given in the ITR are correct or not. The Income Tax Department sends refund money only to pre-validated bank accounts. Experts say that your refund can also get stuck due to any error in the ITR. If this happens, you can file a revised return under section 139(5) of the Income Tax Act, 1961.

If you have received a notice, respond to it

The Income Tax Department sends notices to some taxpayers. This may contain some questions related to ITR. You need to log in to your email ID and e-filing portal to check whether any income tax notice has been sent to you. If you have been sent a notice, then you have to respond to the notice sent under section 143(1).

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Reasons for Delay in Income Tax Refund

E-Verification Pending: This is the most common reason. Processing cannot begin until your ITR is e-verified. If you have not e-verified your ITR yet, complete it immediately.

Delay in physical verification: If you opt for physical verification by sending ITR-V to the Centralised Processing Centre (CPC) in Bengaluru, delay in the same may also delay the refund.

Processing time: After e-verification, the Income Tax Department usually takes 20-45 days. If the number of returns is high, it may take longer.

Mistakes in ITR: If the Income Tax Department finds any mistakes in your returns, the refund may get delayed. In this case, you may also get a notice to correct it.

Wrong Bank Account: If you have provided wrong bank account details, or the account is closed, there may be problem in crediting the refund.

Also Read: ICC Women’s T20 World Cup 2024: BCCI rejected the proposal of Bangladesh Cricket Board

Tax arrears: If you have any tax dues, your refund can be adjusted against that dues. There can also be a delay in refund if there is a mismatch between the tax paid and the declared tax.

System Error: Sometimes technical problems in the Income Tax Department system or your bank’s system may also cause delays.

Portal Updates: Any updates or changes in the Income Tax Portal may also cause delay in processing.

Refund Reissue Request: If a refund has been issued but not credited, you may need to request a reissue.

How to check refund status

You can check your refund status by visiting the official website of the Income Tax Department.

What to do if the refund is delayed?

Verify e-Verification: Make sure that your ITR has been e-Verified.

Check for discrepancies: Review any communication from the Income Tax Department carefully and respond as required.

Check bank account details: Verify your bank account details on the e-filing portal.

Check refund status online: Check your refund status regularly.

Contact your Assessing Officer: If the refund is getting delayed considerably, you can contact your local Assessing Officer.

Lodge a complaint: You can also lodge a complaint on the e-filing portal of the Income Tax Department.

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About 1.5 crore returns were filed

According to the dashboard available on the Income Tax Department’s portal, more than 12 crore taxpayers have registered themselves so far. More than 1 crore 42 lakh returns have been filed so far. Taxpayers have also verified more than 1 crore 33 lakh filed returns on their behalf. About 40 lakh of them have been processed by the Income Tax Department.

When will the money come into your account?

After the income tax return is processed by the department, taxpayers start getting refunds. If you too have filed income tax returns for the financial year 2023-24 i.e. assessment year 2024-25 and are now waiting for the refund, then today we are going to tell you how long your wait is going to be, that is, when will the refund money be sent to you by the Income Tax Department.

Also Read: RBI governor Shaktikanta Das asks banks to step up efforts against mule accounts

Usually the process takes this much time

An important step in filing income tax returns is verification. Taxpayers have to verify their returns after filing them. This facility is now available online as well, which is called e-verify. After the return is verified, it usually takes 15 to 45 days to process. If the verification is done offline, it may take longer to process.

This is why the processing takes time

In the income tax return, the taxpayer gives information about the tax deductions and payments made during the entire year. If the tax paid in the relevant period is more than the tax liability of the taxpayer, then a refund is claimed through the return. This is the reason why the Income Tax Department verifies every return carefully. If the information of the claim made by you is recorded in Form-16, then it takes less time to process. If the information in Form-16 is not updated, the processing time increases. After the return is processed, the refund amount is credited to the taxpayer’s bank account.

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Taxpayers should not wait till the last minute to file returns. Experts say that filing returns at the last minute increases the chances of mistakes.

The Income Tax Department has cautioned taxpayers through social media

To get a refund from the Income Tax Department, it is necessary for your bank account to be validated. Many times the details of a person’s bank account change. The branch or IFSC of the bank changes. Sometimes the account details change due to differences between two banks. In such a situation, the taxpayer will have to re-validate the bank account. The Income Tax Department has posted about this on social media X. It has been said that a validated bank account is necessary to get a refund. It has also been asked to check the account validation status on the e-filing portal for ease of refund.

Also Read: Gift Tax in India: Do you have to pay tax on gifts received on birthday or marriage? Know these important rules

Bank account validation process

Taxpayers can validate bank account online. Its process is very easy. For this you have to go to https://incometax.gov.in/iec/foportal/. After logging in with the help of user ID and password, you have to click on profile. Then after selecting ‘Bank Account’, you have to click on Revalidate. You have to update the account number, IFSC, account type and then click on Validate.

Process to add new bank account

For this, you have to log in to the portal mentioned above. Then click on profile. Then click on my bank account. This will show you the tabs of added, failed and removed bank accounts. You have to select the add bank account tab. Then click on validate. Know that you can add a new account and delete the old account at any time. You can also validate the old account.

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One way of doing validation is to validate through bank account. If your account is not already linked, then you will have to add the bank account to it and then validation will be done. Your refund will come in this account only.

What has the Income Tax Department written?

The Income Tax Department has written- ‘It is necessary to have a validated bank account to get the refund. Please check your bank account validation status by visiting the e-filing portal.’ Along with this, the Income Tax Department has also explained the process of validating the bank account.

View your profile on Income Tax Portal

First of all you have to login to the income tax portal. If you are a new user then you will have to first create a username password and if you are an old user then you can login using your username password.

Also Read: PPF Account Extension Rules: How many times can PPF extension be done in a block of 5 years? Check Details here

What to do next?

After logging in, you will have to go to the profile, where you will find a drop down menu. As soon as you click on this menu, many options will open in front of you. You have to choose the option of profile settings and proceed further.

Provide bank account details

In the profile settings, you will see the option of pre-validate your bank account or bank account e-verification. Click on it. After this, you will be asked for bank account information. Here you have to enter your bank name, account number, IFSC code and mobile number. Enter the mobile number which is registered with your bank.

How to validate your account

After this, you will have to validate the account, which you can do either through Electronic Verification Code (EVC) or through internet banking. If both your bank account and mobile number are linked with Aadhaar, then you should choose the EVC option. An OTP will come on your mobile, which will validate your bank account as soon as you enter it on the portal.

Then a confirmation message will come

If internet banking is active on your account then it will redirect you directly to the bank’s site. Login to your bank account and your account will be validated. When the validation process is over, you will also get a confirmation message.

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How To Boost Tax Refund: With the beginning of the new financial year, the process of filing Income Tax Return (ITR Filing) started. Most of the companies will give Form-16 to the employees by the end of May. At the same time, some self-employed people have completed the process of filing ITR. This time the last date to file Income Tax Return (ITR) is 31 July 2024. While filing ITR, you can claim certain deductions to reduce the income tax return. Many times people are not aware of the deductions under which you can claim deductions.

No exemption of any kind in the new tax regime

There is no benefit of any kind of exemption or deduction under the new tax regime. But in the old tax regime, there are many investment options on which you can avail tax deduction. There are some tax deductions about which people do not have much knowledge but the tax payer definitely gets benefits by claiming under them. Let us know about such options-

National Pension Scheme

You can get the benefit of additional deduction of Rs 50,000 under section 80CCD (1B) on investment in Tier-1 account of NPS. This is different from the benefit of deduction available under section 80C on investments up to Rs 1.50 lakh.

Deduction made on rent payment

Those in the salaried class who do not get the benefit of House Rent Allowance (HRA) and those running their own business can claim tax deduction on rent under section 80GG for the rented house under certain conditions. For example, if your monthly rent is Rs 10,000 and your annual income is Rs 7 lakh. In such a situation, you can avail deduction of Rs 50,000. Let us understand this calculation like this-

Rent paid: Rs 10,000 per month
Total income: Rs 7 lakh annually
10% of income: 7,00,000 x 10/100 = Rs 70,000
Deducting 10% of the rental income: Rs 10,000 – (70,000 / 12) = 10,000 – 5,833 = approximately Rs 50,000 per annum

Medical expenditure

Taxpayers can also avail tax deduction on the medical expenses of their parents. Many people are aware that they can claim tax deduction on health insurance premiums taken for life partner, dependent children and parents. But, if your parents are senior citizens and do not have any health insurance, then you can also avail tax deduction of up to Rs 50,000 under Section 80D on their medical expenses. Apart from this, you can claim a deduction of Rs 5000 under Section 80D on the health related check-up of your life partner and parents.

Deduction on electric vehicle

If you have bought an electric vehicle and taken a loan for it, then you can also get income tax exemption on the interest paid on its loan. Under Section 80EEB, you can claim a deduction of up to Rs 1,50,000 on the interest paid on loan taken from the bank. But the benefit of this deduction will be available only if your loan is approved between January 1, 2019 and March 31, 2023.

Discount on donations

Apart from this, you can also claim income tax deduction on donations made to some organizations. Donations given to these organizations get tax exemption under section 80G. But depending on the type of donation given by you to the registered organization, you get the benefit of different tax deductions.

These are also options for tax reduction

Apart from the tax deductions mentioned above, there are many more tax deduction options under the Income Tax Act, 1961. You can invest in PPF, EPF, ELSS, NSC under section 80C. In Section 24, you can claim deduction on the interest paid on your home loan. Tax deduction is also available on interest paid on loan taken under Section 80E. You can also get the benefit of tax deduction on House Rent Allowance (HRA).

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A very good news has come for the taxpayers. The Income Tax Department has made a big plan regarding tax refund. The interim action plan of the Income Tax Department is to close the pending tax refund cases by April 30..

What is the plan of Income Tax Department?

There are still many taxpayers whose tax refund of the last assessment year is stuck. After filing the tax return, the refund has not been processed yet. But the department plans to settle the remaining pending refund cases by April 30. During this time, the department will have to complete the scrutiny of the refund and make the refund payment in April. The department has set a target to settle e-redressal cases by May 5.

Will speed up processing

Apart from this, the department plans to share information with agencies like CBI, ED, SEBI, SFIO by April 30. Information on applications received till 31st March should be given by 30th April. After this, information has to be shared within 15 days on the applications received after April 1. In cases where penalty is confirmed by ITAT, processing will take place till June 30.

Also the target is to speed up the matters of international taxation and transfer pricing. Every AO (Assessment Officer) will identify the top 30 TDS non-filers by June 30.

7th Pay Commission: Finance Ministry gave big relief to government employees, order issued

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There is a good news for income taxpayers. Tax payers whose old income tax refund is stuck will no longer have to wait long to get it. The Central Board of Direct Taxes (CBTD) has said in a circular issued on March 1 that the income taxpayers will get the pending tax refund money for the financial year 2020-21 i.e. assessment year 2021-22 by April 30, 2024.

If your tax refund is also due then you must keep checking your e-mail. It is necessary to do this because the Income Tax Department is giving information to every defaulter through e-mail. If you have not received the e-mail yet, it will come soon.

CBDT in its circular said, “It has been brought to our notice that due to some technical issues or other reasons, many of the valid returns filed for the assessment year (AY 2021-22) 2021-22 under section 143 of the Act have not been returned. Could not be processed under sub-section (1).

As a result, the information regarding processing of such returns could not be sent within the time limit prescribed under sub-section (1) of section 143 of the Act. “This has led to a situation where taxpayers are unable to receive their valid refunds as per the provisions of the Act, although they are not responsible for the delay.”

Refunds of many income taxpayers are stuck

After the income taxpayer files the return request in the Centralized Processing Center within a specified period, the Income Tax Department issues an intimation notice under section 143(1) of the Income Tax Act, 1961.

This notice means that the ITR filed by the income taxpayer has been successfully processed. After this, usually the refund amount, if any, is released. Now income tax refund does not take much time. However, many ITRs filed for the financial year 2020-21 (AY 2021-22) have not been processed yet and due to this the refunds of many tax payers are stuck.

Complete information will be in intimation e-mail

All the information related to the income tax refund due to the income tax payer will be given in the intimation email being sent by the Income Tax Department. It is noteworthy that now the Income Tax Department does not take much time in issuing refunds. Only a few days after filing the income tax return,

he gets the information about processing of ITR. After the ITR is processed, the taxpayer is informed through intimation e-mail how much refund he is going to get and the refund amount is deposited in the bank account of the income tax payer after a few days.

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The Income Tax Department has said that tax refund of Rs 2.48 lakh crore has been given for the assessment year 2023-24 from April 1, 2023 to January 10, 2024.

You can also know your tax refund status sitting at home

If you have filed your income tax return and are waiting for your tax return, you can also do so online. Actually, a new type of service has been started on the Income Tax Portal. Through this you can directly check the status of your refund.
You can check the status of refund like this

After logging into the new Income Tax website, you will get information about your income tax refund at the top. Whether your tax refund has been cleared or not. There is also another method in which one has to go to the e-filing portal. After this you have to click on the section of quick links.

After this you will have to scroll down until you see Know Your Refund Status. You have to click on it. After this you will have to enter your PAN number, assessment year and mobile number. After this you will get an OTP. After entering the OTP, your refund status will be visible.

These people will not get the previous stuck income tax refund

– The ITRs which are to be scrutinized.

– Due to some reason, ITR has not been processed by the assessee.

– ITR process in which more refund is demanded after the ITI process.

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A survey by industry body CII said that 89 percent of individuals and 88 percent of companies believe that the time taken to receive income tax ‘refunds’ has reduced in the last five years. The CII Income Tax Refund Survey submitted to Finance Minister Nirmala Sitharaman also found that 75.5 per cent of individuals and 22.4 per cent of companies did not pay TDS (Tax Deduction at Source) in excess of their estimated tax liability.

Benefits of technology and automation

The survey participants (84 percent individuals and 77 percent companies) also believe that the process of checking the status of tax refund is now better and smoother. CII President R Dinesh said, “The measures taken by the government in recent years to streamline, simplify and automate the taxation system have brought considerable benefits. This is evident from the results of CII’s survey on assessing the speed and efficiency of income tax refunds.

The survey said that surprisingly 87 per cent of individuals and 89 per cent of companies feel that the process of claiming income tax ‘refund’ is convenient. CII Director General Chandrajit Banerjee said, “There has been a significant reduction in the waiting time for individuals and companies to receive income tax refunds in the last five years (2018-2023). This is encouraging. This reflects the government’s efforts to simplify and efficient the process of obtaining income tax refund over the last few years.

Survey conducted with 3531 respondents

CII conducted this survey at all India level among 3,531 participants in October 2023. Of these, 56.4 percent were individuals and 43.6 percent were companies/enterprises/organizations. There was participation of major states in this. The survey said that automation and simplification in the income tax ‘refund’ process has increased the trust in the Income Tax Department among the taxpayers.

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Now this is only a few days’ work left. Because of this, taxpayers get the refund within a few days of filing the return. However, this does not happen with everyone and in many cases the refund of taxpayers gets stuck.

So many people have received refunds

According to the data of Income Tax Department, taxpayers have filed a total of 7.09 crore returns in the assessment year (Assessment Year 2023-24). Out of them, 6.96 crore returns have been verified. The Income Tax Department has processed 6.46 crore returns so far. The Income Tax Department says that out of the returns processed, refunds have been given to taxpayers in cases of Rs 2.75 crore.

The department gave this update

The data clearly shows that there are still many taxpayers who have not received income tax refund. The Income Tax Department has given information about this in a latest social media update. If you too have not yet received the refund from the Income Tax Department, then this update from the department can prove to be useful for you.

Due to this reason the refund is stuck

The Income Tax Department says that there are many such cases in which old demands are pending. In such cases, the Income Tax Department adjusts the old dues in the refund. In this regard, Section 245 (1) of the Income Tax Act 1961 provides that the taxpayer should be given an opportunity to present his case before adjusting the old dues in the refund.

Department’s request to taxpayers

The department says that in all such cases, it has sent notices to the concerned taxpayers and informed them. This step is to protect the interests of taxpayers and thus they are being given a new chance under the principles of justice. The department has requested all such taxpayers to go to the department’s office on receiving the notice and clear the old demand.

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Crores of taxpayers across the country have filed ITR on time this time. But despite this, if your income tax refund has not been received yet, then you need to cross check some information related to you. In the information given by CBDT, it was said that this time till September 5, about 7 crore people have filed ITR.

Notification issued on twitter

In the notification issued by the Income Tax Department on Tuesday evening regarding tax refund, it was said that the bank accounts in which tax refund is being deposited. Those accounts are valid and verified. The Income Tax Department has issued a notification in this regard through its official Twitter account @IncomeTaxIndia. The department was asked to ensure that the bank accounts in which the tax refund is to be deposited are valid and verified.

Why is account verification necessary?

In the process of income tax refund, the refund amount is directly deposited in the bank account of the taxpayer. Validate the bank account information on the Taxpayer e-filing portal to streamline the process and avoid any errors.

How to Verify Bank Account

Taxpayers can follow these steps to validate or update their bank account details:
– First of all visit the official website of Income Tax Department http://incometax.gov.in .
– After this log in to your e-filing profile.
Now go to the Profile section and select ‘My Bank Account’.
– Re-verify or add bank account details as required.

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The last date for filing returns (ITR) for salaried income taxpayers was July 31. Returns of many people have been processed and they have also received refunds. There can be many possible reasons for the refund amount not coming to the account of those who have not received the refund yet.

It is important to check these possibilities to determine the reason for delay in ITR refund and take appropriate action. Keep an eye on the e-mails and letters coming from the Income Tax Department. If any additional information is sought through them, provide it immediately.

ITR is still under verification process

If ITR is still under processing then you may get the refund late. It usually takes a few days to process ITR. If it has been a long time since you filed your ITR and you have not received your refund yet, you should check the status of your refund on the official website.

Some cases of ITR filing go for scrutiny through the Income Tax Department to ensure accuracy and compliance. If your return is under scrutiny process, it will take time for the ITR refund to be credited to the account.

ITR Refund Eligibility

You also need to check whether you are eligible to get a refund or not. You will receive an income tax return refund only if the Income Tax Department processes your income tax return and makes you eligible for it. Once the Income Tax Department confirms your eligibility, the refund is usually credited within four weeks.

wrong bank account

If you have given wrong bank details while filing the return then the tax refund will not be credited to your account. It is important to note that the name registered in your bank account should match the details of your PAN card. The refund will be credited to the bank account that you have mentioned in your ITR.

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Income Tax Department: If you have also done ITR (ITR Filing) till 31st July, then you must read this news. It is always advised by tax experts that you should be careful while claiming tax exemptions and deductions while filing income tax returns. The Income Tax Department may ask you for proof of claimed deductions and exemptions while processing ITRs filed for the current year or previous years.

No need to worry

If you can give the evidence related to this to the department, then you do not have to worry about any kind of claims. However, if a person is unable to provide proof or the Income Tax Department is not satisfied with the proof provided by you, then the claimed deduction and tax exemption will be treated as uncertified. Not only this, in such cases, you can be fined by the Income Tax Department.

Evidence was sought from the salaried clause

According to tax experts, claiming wrong deduction leads to wrong reporting of income. Claiming exemption of HRA in excess on the basis of fake rent receipts or claiming deduction on the basis of false documents is considered as misreporting of income under the Income Tax Act, 1961. Recently, it was told that by sending notices to the salaried class persons, the Income Tax Department has sought proof of deduction claimed for the ITR filed for the financial year 2021-22.

Income Tax Department can identify such cases

Chartered Accountant Ashish Mishra told that the Income Tax Department has found that taxpayers are claiming fake deductions and exemptions to claim tax refund while filing ITR. Such fake people can be tracked by the Income Tax Department. For example, if one has claimed deduction for HRA on the ground that rent has been paid to parents. And if the parents fail to report this rental income in ITR, the Income Tax Department can identify such cases.

If the taxpayer is not able to provide the documents when asked by the department, then the Income Tax Department can impose both fine and penalty for giving wrong information about income. Under Section 270A of the Income Tax Act, a penalty equal to 200% of the tax payable on such misreported income will be levied. Let us tell you that the amount of interest can also be included in the fine. That’s why it is important that while filing income tax return, you should give only that information for which you have strong proof.

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So many returns in one week

According to the information available on the Income Tax Department portal, 11.31 crore individual taxpayers have been registered on the portal so far. More than 2.61 crore income tax returns have been filed so far for the current assessment year 2023-24. About a week ago their number was around 1.30 crore. Thus, more than 1.25 crore returns have been filed in a week.

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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.

2.
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’.

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Like every year, this time also the season for filing Income Tax Return (ITR Filing) has started. Along with this, people have also started getting Income Tax Refund. The Income Tax Department issues crores of refunds every season after processing the Income Tax Returns filed by the taxpayers. In the last few years, there has been a vast change in its process. Earlier, where it used to take months, now this entire process is being completed in a few days.

So many refunds issued in just 30 days

Nitin Gupta, chairman of the Central Board of Direct Taxes (CBDT) recently gave interesting information about this. He has said in a program during the week that there has been a significant reduction in the average time for tax refund. He told that during the last financial year 2022-23, refunds were issued to taxpayers within 30 days of filing returns in 80 percent cases.

Due to these reasons the whole process was accelerated

The CBDT chairman also pointed out that the use of technology has made the process of processing income tax returns and issuing refunds faster. He said that ease of doing business is being ensured for taxpayers by promoting voluntary compliance. We have expedited the process of processing returns and due to this, the average time taken to process tax refunds has come down to only 16 days in the financial year 2022-23, which was 26 days in 2021-22.

Record settlement started in a day

The CBDT Chairman said that there has been a significant increase in processing ITR within one day. This assessment was 21 percent in the year 2021-22, which has now increased to 42 percent in 2022-23. The department disposed of the maximum number of 22.94 lakh returns in a single day on July 28, 2022.

In order to facilitate voluntary compliance and reduce legal disputes, he said that the provision of updated return i.e. ITR-U has been made on the e-filing portal, so that the taxpayer can access his returns at any time for two years after the end of the relevant assessment year. Update the return.

Faceless system made this work faster

According to Gupta, till March 31, 2023, more than 24.50 lakh updated returns have been filed. From these, the government has received about Rs 2,480 crore as additional tax. Gupta also said that in the last financial year more than four lakh assessments have been completed in a faceless manner. There has been a 60 percent reduction in complaints related to the faceless process during 2022-23 as compared to the previous financial year. Under the faceless system, tax officials have disposed of more than one lakh appeals.

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Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta has said that there has been a significant reduction in the average time taken to refund taxes. In the last financial year 2022-23, in 80 percent cases ‘refunds’ were issued in the first 30 days of filing returns.

Returns will come in just 16 days

The CBDT chief also said that the use of technology has speeded up the income tax return process and is working to ensure ‘ease of doing business’ for taxpayers by promoting voluntary compliance. Gupta has said that we have speeded up the process of returns and tax refunds are being processed at a faster rate. In the financial year 2022-23, the average time taken for tax refund was only 16 days, which was 26 days in 2021-22.

Income Tax Department gave information

In the online ‘Samvad’ session organized by the Income Tax Department on Thursday, Gupta has said that there has been a significant increase in the matter of completing the process within a day of filing ITR. This assessment has increased from 21 percent in the year 2021-22 to 42 percent in 2022-23.

22.94 lakh returns were settled

Referring to the use of technology, he said that the department disposed of the maximum number of 22.94 lakh returns in a single day on July 28, 2022. To facilitate voluntary compliance and reduce legal disputes, the CBDT chief said that provision has been made to file an updated return (ITR-U) on the e-filing portal so that the taxpayer can file it within two years after the end of the relevant assessment year. Update your return at any time.

24.50 lakh claims settled till March 31.

He has said that till March 31, 2023, more than 24.50 lakh updated returns have been filed and about Rs 2,480 crore has been collected as additional tax. Gupta also said that in the last financial year, more than four lakh assessments have been completed without the officer and the taxpayer coming face to face.

There has been a 60 percent reduction in complaints related to the ‘faceless’ process in 2022-23 as compared to the previous financial year. Gupta said that under the ‘faceless’ system, tax officials have disposed of more than one lakh appeals.

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However, it has been seen many times that some people have to face a lot of delay in getting the income tax refund. In such a situation, after applying for income tax refund, its status can be checked with easy steps. Let’s know about it…

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Apart from ensuring that their Aadhaar is linked to their PAN (Permanent Account Number), the taxpayer should also ensure that their name (not PAN card) as per the PAN database is updated in their bank account records. The name as per one’s PAN card is generally the name which we want to print on the PAN card or if it is an old card, then there may be a mistake in it. However, the name as per the database is the one that is relevant and it may be completely different from the name printed on the PAN card.

It is suggested that the Income Tax Department may be contacted for the exact name as per the database. Or an easy way to find out is to fill the Tax Payment Challan (on NSDL Income Tax website) and see the name which is automatically generated as per the PAN number. This name is the name as per PAN database.

Taxpayers should also check if there is any old tax due and still payable, and now being raised, and address them. They also need to update their bank details: For example, there could be changes in the IFSC code in case of bank mergers, and also check details such as whether it is an individual account or a joint account.

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Step by Step Process to Check ITR Refund Status

Step 1- First of all go to the homepage of the e-filing portal. After this click on the status of Income Tax Return (ITR) .

Step 2- After clicking on the income tax return status, a new page will open in front of you. There you will have to enter your Acknowledgment Number and Mobile Number and click on Continue.

Step 3- After this a 6 digit One Time Password (OTP) will come on your mobile number. You have to enter it and click on submit. Please tell that this OTP will be valid only for 15 minutes.

Step 4- On successful completion of the process, the ITR status will be displayed on your screen .

This is how you can check the status without login to the website

Step 1- First of all go to the homepage of the e-filing portal.

Step 2- Click on Income Tax Return (ITR) Status.

Step 3- On the ITR status page, enter your acknowledgment number and valid mobile number and click on continue.

Step 4- On successful completion of the process, the ITR status will be displayed on your screen.

The post Income tax refund Released: Government issued income tax refund of Rs 2.40 lakh crore, check your refund status first appeared on Rightsofemployees.com.

What is income tax refund

It is known that the deadline for filing ITR for the Financial Year 2021-22 (FY2021-22) and Assessment Year 2022-23 (Assessment Year 2022-23) was 31 July 2022. The Income Tax Department has also sent their refund money to many taxpayers across the country, but there are many taxpayers who have not received the refund yet. 

process refund again 

The Income Tax Department will issue you the refund only when you process the Income Tax Return. If your refund has not come despite the passage of time, then there is no need to panic. If you want, you can send the request to process your refund again to the Income Tax Department.

Check refund status like this 

• First of all, you have to go to the website of Incometaxindiaefiling.gov.in.
• In this you will have to fill PAN card, password and captcha code, after which your account will be logged in.
• After this you have to click on ‘Review Returns/Forms’.
• Select ‘Income Tax Returns’ from the drop down menu. Select the assessment year for which you want to check IT refund status. 
• After this click on the acknowledgment number. Now the timeline of return filing will appear on the screen.

Follow these steps for re-issue request

• First of all, you have to go to the official website incometaxindiaefiling.gov.in. 
• You have to click on the ‘My Account’ menu of the website.
• After this, again click on the ‘Service Request’ link.
• Select the request type as ‘New Request’.
• Select ‘Request Category’ as ‘Refund Reissue’ and then submit it. 
• After this, PAN, return type, assessment year, acknowledgment number, communication reference number, reason for refund rejection and response will appear on the page.
• Now click on ‘Submit’ in the ‘Response’ column. This will display the pre-validated bank accounts where the enabled EVC will be visible.
• Click on Select the account in which you want the refund.
• Click on ‘OK’ when all the details are correct. Options for e-verification will appear in the dialog box.
• Select the appropriate mode of e-verification.
• After this generate and enter the Electronic Verification Code (EVC) / Aadhaar OTP to submit the request.
• A ‘Success’ message will appear on your screen confirming the refund re-issue submission.

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In the information provided by the Income Tax Department last days, it was told that till now income tax refunds worth Rs 2.15 lakh crore have been issued to the taxpayers. Refund amount is being issued to taxpayers from April itself. To know whether your refund has come yet or not, you need to check the refund status.

Issuing the return Income Tax Department after filing ITR (ITR Filing) If any kind of refund is made, then it is sent to your bank account by the Income Tax Department. Under this, the Income Tax Department is continuously issuing refunds. According to the data released by the Central Board of Direct Taxes (CBDT), from April 1 to November 30, the government has issued refunds worth Rs 2.15 lakh crore to tax payers.

66.92 percent more refund issued

This figure of refund is 66.92 percent more in the same period last year. Earlier, till October 8, 2022, Rs 1.53 lakh crore was issued as refund to tax payers.

Why did not get refund

If you have not received income tax refund till now, then there can be many reasons for this. Tax refund is delayed due to pending outstanding demand of previous ITR filing. In fact, many taxpayers were issued intimation notices by the department in the last financial year. But many people did not respond to these or did not update on the portal. There is a delay in getting refund to such taxpayers.

Check your refund status like this

– First of all, go to the Taxpayer Income Tax Department’s website www.incometax.gov.in .
Now login with password after entering PAN, Aadhaar number or User User ID.
Here go to Income Tax Return under e-file option. After this, select the option of view filed return.
Now check the latest ITR filed and go to view details.
Your refund status will appear here. In this, you will get the information on which date the refund was issued or the date on which the refund will be issued.

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Finance Ministry gave information

The Finance Ministry said in a statement on Friday that the increase was mainly due to the better performance of personal income tax collection. Net direct tax collection after adjustment for refunds stood at Rs 8.71 lakh crore. This includes personal and corporate taxes. This is 61.31 percent of the target fixed for the whole year in the general budget.

The government issued so much refund

The statement said that between April 1 and November 10, refunds worth Rs 1.83 lakh crore have been issued. The ministry said, “The direct tax collection till November 10, 2022 shows that the gross collection is Rs 10.54 lakh crore. This is 30.69 per cent more than the gross collection of the corresponding period last year. There has been an increase of 22.03 per cent and 40.64 per cent in gross corporate tax and personal income tax collection, respectively.

This is how you can check the status of the return

To check the status of your income tax refund, first you have to visit www.incometaxindiaefiling.gov.in . After this, you have to login there by filling the details of PAN card details, password and captcha code.

In the second step, you have to click on Review Return Forms. Then select ‘Income Tax Returns’ from the drop down menu. Here you have to select the assessment year for which you want to check the IT refund status.

In the third step, you have to click on your acknowledgment number ie hyperlink. Now a pop-up will appear on the screen, which will show the timeline of return filing. For example, when was your ITR filed and verified, date of completion of processing, date of refund issue, etc. Apart from this, it will also show the assessment year, status, reason for failure and mode of payment.

The post Income Tax Refund: Big news ! Government issued refund of Rs 1.83 lakh crore, status will be able to be checked like this first appeared on Rightsofemployees.com.

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.

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In the first five months of the current financial year i.e. between April and August, the Income Tax Department has so far issued refunds of Rs 1.14 lakh crore. The Income Tax Department has tweeted this information. According to the tweet, personal tax refund of Rs 61252 crore and corporate tax refund of Rs 53158 crore has been issued. Individual refunds have been issued to 1 crore 96 lakh 998 taxpayers, while corporate refunds have been made in 1 lakh 46 thousand 871 cases.

Check Refund Status on NSDL Website

If you are entitled for income tax refund, then you can check its status online. The status can be checked through the Income Tax e-filing portal or the website of NSDL. For this, first after logging in, click on View Return / Forms. Now select Income Tax Return and enter the assessment year. Now the status of your refund will be known.

Fill correctly bank account details

Many times it happens that even after issuing the refund by the Income Tax Department, the taxpayers are not able to get the refund. Incorrect bank account information can be a major reason for getting refunds stuck. If you have entered the account details incorrectly while filling the form, the tax refund may get stuck. In such a situation, you will have to correct the account details on the website of the Income Tax Department. After that you will be eligible for this refund again.

Where to complain if refund is not received

Taxpayers can lodge complaints on incometax.gov.in. They can also use the toll-free number 1800-103-4455 issued by the IT Department. This number can be called between 8 am to 8 pm on working days. Apart from this, complaints can also be lodged on the e-filing portal of the Income Tax Department.

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ITR being filed with penalty after July 31, this time the last date for filing income tax was 31 July. Till this date not many people have been able to file ITR. Those filing income tax returns after July 31 have to pay a penalty. But hardly you know that in some cases ITR can be filed even after the last date without penalty.

Depends on the Tax Regime Select Doesn’t matter. If you understand in simple language, if a person with an income of up to 2.5 lakhs files income tax return after the due date, then he will not have to pay penalty. However, it also depends on which tax regime you have selected?

Exemption on age and annual income If one selects the old tax regime, then for those below 60 years of age, this exemption is Rs 2.5 lakh. At the same time, income up to Rs 3 lakh for those who are 60 years or more and less than 80 years is tax free. Similarly, the basic exemption limit for those above 80 years of age is 5 lakhs.

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Apart from this, the total income tax refund of Rs 1.14 lakh crore was done by the department. ITR being filed with penalty after July 31, this time the last date for filing income tax was 31 July. Till this date not many people have been able to file ITR. Those filing income tax returns after July 31 have to pay a penalty. But hardly you know that in some cases ITR can be filed even after the last date without penalty.

Depends on the Tax Regime Select Doesn’t matter. If you understand in simple language, if a person with an income of up to 2.5 lakhs files income tax return after the due date, then he will not have to pay penalty. However, it also depends on which tax regime you have selected?

Exemption on age and annual income

If one selects the old tax regime, then for those below 60 years of age, this exemption is Rs 2.5 lakh. At the same time, income up to Rs 3 lakh for those who are 60 years or more and less than 80 years is tax free. Similarly, the basic exemption limit for those above 80 years of age is 5 lakhs.

The post Income Tax Rules: If you file ITR even today, you will not be fined, know this rule related to income tax first appeared on Rightsofemployees.com.

If ITR has not been filled, then you will have to pay a penalty, if you have not filed ITR yet, then you will have to pay a penalty. Late filing fee of Rs 5000 is charged for filing ITR after the last date. This late filing fee is charged under section 234F. Small taxpayers whose taxable income does not exceed Rs 5 lakh are liable to a fine of Rs 1,000.

Refunds can get stuck due to these reasons, many times the Income Tax Department issues refunds, but people are not able to get them due to mistake in bank account details. This error has been observed in many cases. In such a situation, you should also check your bank account details once.

If the details are incorrect, then correct it by visiting the website of the Income Tax Department. On the other hand, once the department assesses your verified ITR, you will not be able to get a refund. The notice will show whether you will get any refund from income tax or not.

If it does not appear in the notice, it means that your claim has not been accepted. At the same time, it will be issued to you on seeing the refund in the notice. If your bank details are wrong, then for this you will have to request from Income Tax that it be issued again.

If you are filing ITR now, then keep these things in mind , you will need Form 16 to fill ITR. Employees should get this done by talking to their employer. Check TDS and TCS details. Check income and TDS details in AIS form. Along with this, after filling the ITR, it is also necessary to get it verified. The filing process of any taxpayer is not considered complete until he gets his ITR verified. Any person can get ITR verified with the help of 6 methods.

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If you have filed income tax return and are waiting to see when the refund will come, then today we are going to tell you the easiest way to check it online.

How to check income tax refund status online

Step 1: First of all go to www.incometax.gov.in website.

2nd Step- Now login to the account by entering your PAN number or Aadhaar number, User ID, User ID, User and Password, Date of Birth and Captcha Code.

Step 3: After that click on My Account.

Fourth Step- Here you have to go to “Refund/Demand Status”.

5th Step- After this, you will be displayed the information of Assessment Year, Reason for Refund Failure and Payment Mode.

After this you can see your refund status.

Refund status can also be known through TIN NSDL

Step 1: First of all go to https://tin.tin.nsdl.com/oltas/refundstatuslogin.html.

2nd Step- Now you will see a window, at the bottom of which you will have to fill PAN number and Assessment year.

Third Step- After this, fill the captcha code and proceed. After this you will be able to see your refund status.

There will be a penalty for filing ITR after July 31

If you do not file your ITR by July 31, then you may have to pay a penalty. A taxpayer with a salary of more than Rs 5 lakh has to pay a fine of Rs 5000. At the same time, those with a salary of less than 5 lakhs face a fine of Rs 1,000.

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The Income Tax Department has fixed 31 July 2022 as the last date for filing income tax returns and Revenue Secretary Tarun Bajaj has also told that there is no idea to extend the deadline yet. In such a situation, it is necessary to file ITR by the stipulated time limit. Even after this, income tax payers can file income tax return. But for that they have to pay late fee. Out of this, a late fee of Rs 5,000 for high income group and Rs 1,000 for low income group has been fixed. In such a situation, after filing the income tax return, the question remains in the mind of the income tax payers that in how many days will the refund be issued after filing the ITR.

How to check status

1. If your income tax refund was to come, then you can check its status online. The status can be checked through the Income Tax e-filing portal or through the website of NSDL.
2. For this, first go to the new e-filing portal of the Income Tax Department. Login here.
3. Then click on View Return/Forms. Now select Income Tax Returns and enter Assessment Year.
4. Now the status of your refund will be known. Refund status information can also be found through the website of NSDL.

These mistakes can happen

• Sometimes the refund is not received even after the release of money by the department. A major reason in the cases of income tax refund getting stuck can be a mistake in the details of the bank account .
• If you have entered your account details incorrectly while filling the form, then because of this your income tax refund may get stuck.
• In such a situation, you will have to correct the account details on the website of the Income Tax Department. After that you will again be eligible for this refund.
• Once the department has done a preliminary assessment of your verified ITR, it is found that no refund is due to you.
• This will be reflected in the notice under section 143(1) of the Income Tax Act that the tax department will send you regarding the Income Tax Act which the tax department will send to you after processing your return.
• So, if the notice shows you refund due then it will be issued but if the notice shows zero refund then it means that your refund claim was not accepted as your calculation did not match with the department’s calculation.
• The department has processed your refund, but you have not received it due to incorrect bank details. In case your refund is pending due to incorrect details provided by you, you can request the department to reissue the same after providing correct bank details.
• Once you have filed and verified your ITR, regularly check the status of your return to see if you have claimed refund.
• This helps you track your ITR processing and refund (if any). It also helps in ascertaining whether you have committed any mistake while filing the return.

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At the same time, after filing the income tax return, the round of income tax refund starts. Along with this, let us tell you that in case of tax refund, it is very important for the taxpayers to file the tax return on time, because failing to do so can only harm you. If your refund is of 1.5 lakh rupees, then after a delay of 9 months, you will lose some percent interest.

Apart from this, the taxpayer has to pay a late filing fee of about 5000 for delay, so you have to do all these things on time. It is often seen that people miss out on claiming the tax refund of the previous financial year and get to know about it in the next financial year.

Experts have told that, there are some rules for this, under which if your amount is in the limit of 1 lakh, then for that you have to apply to the concerned commissioner of income tax and if this amount is 1.5 lakh then you will have to file with CIT. Will have to tell about it. At the same time, if it is more than 5 lakhs, you will have to inform CBDT about it.

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