Income Tax Refund Status: Usually, ITR refund is processed within 7 to 120 days from the date of filing the Income Tax Return (ITR). However, due to technology, the average processing time for refunds has reduced significantly. If your tax refund has not arrived yet, make sure you have verified your ITR. If you do not e-verify the ITR, your ITR filing is considered incomplete, making your ITR invalid.
How to Check Income Tax Refund Status
Step 1: Visit the Income Tax India website https://www.incometax.gov.in/iec/foportal/.
Step 2: Log in to the portal using your registered user ID (PAN number), password and captcha code.
Step 3: Look for ‘View Return / Form’. Step 4: Then click on the ‘Choose an option’ link from the drop-down list and then on the ‘Income Tax Return’ link. Enter the assessment year and click on Submit.
Step 5: Click on ITR Acknowledgment Number to check the information and view the ITR refund status.
The ‘Refund Paid’ status is also recorded in the ‘Tax Credit Statement’ in Form 26AS.
In some cases, ITR refund may be delayed due to certain reasons, such as –
- Taxpayers may not have entered the correct bank account number while filing their Income Tax Return.
- Taxpayers may have entered insufficient or incorrect information in order to get a higher refund.
- Customers must enter accurate information to get timely refund.
- The discrepancy in the TDS claimed in 26AS may be from the employer or the TDS deductor (such as a bank). Filing of incorrect TDS Return may result in delay in refund.
- In such a case, taxpayers will need to contact them to correct their TDS Return.
- Apart from this, one of the most prevalent reasons for non-issuance of refund is the requirement of additional documents or information. Taxpayers may have overlooked some information while reporting their ITR.
