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.
Income Tax Refund: CBDT has issued refund to 1.59 crore taxpayers. The IT department has given information about this by tweeting. Here you are being given this information that if the refund has not come in your account, then how can you find out by checking the status.
Income Tax Refund: In a tweet on Thursday, the Income Tax Department informed that a refund of Rs 1.54 lakh crore has been issued to the income tax payers so far. According to the CBDT, from April 1, 2021 to January 10, 2022, 1.59 crore taxpayers have been paid. The IT department said that in 1.56 crore cases, income tax of Rs 53,689 crore has been refunded, while corporate tax of Rs 1,00,612 crore has been refunded in 2.21,976 cases.
CBDT issues refunds of over Rs. 1,54,302 crore to more than 1.59 crore taxpayers from 1st Apr,2021 to 10th January,2022. Income tax refunds of Rs. 53,689 crore have been issued in 1,56,57,444cases &corporate tax refunds of Rs. 1,00,612 crore have been issued in 2,21,976cases(1/2)
— Income Tax India (@IncomeTaxIndia) January 13, 2022
The Income Tax Department said in a tweet that for the assessment year 2021-22, so far more than 4 crore people have filed their Income Tax Returns. If you haven’t filed your return yet, file it now.
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.
