ITR ALERT: There has been a big update of Income Tax Department. Taxpayers should give this ITR alert. The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1.83 lakh crore to over 2.09 crore taxpayers.
ITR ALERT: The Income Tax Department (INCOME TAX DEPARTMENT) has an important update for taxpayers filing Income Tax Return (ITR) . The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1.83 lakh crore to over 2.09 crore taxpayers.
Out of the total, income tax refund of Rs 65,938 crore has been issued in 2,07,27,503 cases. Income Tax India tweeted, Corporate tax refund of Rs 1,17,641 crore has been issued in 2,30,566 cases.
This includes 1.70 crore refunds for the assessment year (AY) 2021-22, which is Rs 34,202.31 crore.
Income tax refund status
“CBDT issued refunds of over Rs 1,83,579 crore to over 2.09 crore taxpayers from April 1, 2021 to February 28, 2022. Income tax refund of Rs 65,938 crore has been issued in 2,07,27,503 cases and corporate tax refund. Rs 1,17,641 crore has been released in 2,30,566 cases.
Income Tax tweeted, “This includes 1.70 crore refunds for the year 2021-22, which is Rs 34,202.31 crore.”
CBDT issues refunds of over Rs. 1,83,579 crore to more than 2.09 crore taxpayers from 1st Apr,2021 to 28th Feb,2022. Income tax refunds of Rs. 65,938 crore have been issued in 2,07,27,503 cases &corporate tax refunds of Rs. 1,17,641 crore have been issued in 2,30,566 cases(1/2)
— Income Tax India (@IncomeTaxIndia) March 2, 2022
How to claim TDS refund – If TDS is deducted more than the tax liability, then you can claim refund by filing ITR. In ITR filing, you have to provide the name of the bank and its IFSC code. By giving both these information, the Income Tax Department will give you a quick and easy refund. If you do not have taxable income then you have to apply for lower or nil TDS certificate. You can do this work by filling Form 13 under section 197.
You have to submit this form to the TDS deductor. If you are not earning from the interest of the banks, then you will have to give this information under the 15G form. ITR refund is credited to your bank account within 3-6 months of filing ITR. The tax department takes so much time because it has to do e-verification.
How to Check Your Refund Status
>> First of all go to the new website of Income Tax Department (ITR) http://www.incometax.gov.in .
>> Enter your User ID and Password there.
>> After logging in, you will see the option of e-filing.
>> Now you select Income Tax Returns.
>> After that click on View File Return.
>> After which the details of your ITR will be visible in front.
These could be the reasons for delay in refund
One of the major reasons in cases of income tax refund getting stuck can be a mistake in the bank account details. If you have entered your account details wrong 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.
