ITR refund: Income Tax Department said that in the current financial year so far refund of 1.14 lakh crore has been issued. Refunds have been issued to 1.97 crore taxpayers. So far 1.55 lakh updated returns have been filed.
ITR refund: In the first five months of the current financial year i.e. between April and August, the Income Tax Department has so far issued a refund of Rs 1.14 lakh crore. This information has been given by tweeting on behalf of Income Tax Department. According to the tweet, individual tax refund of Rs 61252 crore and corporate tax refund of Rs 53158 crore have been issued. Individual refund has been issued to 1 crore 96 lakh 998 taxpayers, while corporate refund has been done in 1 lakh 46 thousand 871 cases.
Check refund status on NSDL website
If you also want to get income tax refund, 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. For this, first after login, click on View Return / Forms. Now select Income Tax Returns and enter the assessment year. Now the status of your refund will be known.
CBDT issues refunds of over Rs. 1.14 lakh crore to more than 1.97 crore taxpayers between 1st April, 2022 to 31st Aug, 2022.
Income tax refunds of Rs. 61,252 crore have been issued in 1,96,00,998 cases &corporate tax refunds of Rs. 53,158 crore have been issued in 1,46,871 cases— Income Tax India (@IncomeTaxIndia) September 3, 2022
Fill the bank account details correctly
Many times it happens that even after the refund is issued by the Income Tax Department, the taxpayers are not able to get the refund. A major reason for getting refund stuck can be wrong bank account information. If you had 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 again be eligible for this refund.
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 on working days between 8 am to 8 pm. Apart from this, complaints can also be lodged on the e-filing portal of the Income Tax Department.
Finance Act 2022 introduced a new provision of filing Updated Income Tax Returns u/s 139(8A) of the Income-tax Act, 1961.
Over 1.55 lakh Updated ITRs have been filed upto 2nd September, 2022.
More than 20,000 taxpayers have filed Updated ITRs for both AYs 2020-21 & 2021-22#ITRU— Income Tax India (@IncomeTaxIndia) September 4, 2022
1.55 lakh updated returns have been filed
According to another tweet made by the Income Tax Department, 1.55 lakh updated returns have been filed till 2 September 2022. More than 20 thousand taxpayers have filed updated returns (ITR-U) for assessment years 2020-21 and 2021-22. Explain that the provision of updated returns was announced in the Finance Act 2022.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
