- Advertisement -
Home Personal Finance Income Tax Refund has not arrived yet? Is your money stuck due...

Income Tax Refund has not arrived yet? Is your money stuck due to this reason? What to do now?

0
Income Tax Refund has not arrived yet? Is your money stuck due to this reason? What to do now?

Check Income Tax Refund Status for FY 2023-24: In the last few years, the department has caught many fake claims of tax returns and has implemented a risk management system to prevent such claims.

Even after filing the income tax return on time, many taxpayers have not yet received their refund (ITR Refund). There can be many reasons behind this. Even if your ITR is verified, it is not necessary that you will get a refund. Getting a tax refund also depends on many other factors. The Income Tax Department completes certain checks and procedures before issuing a refund. One such process is the ‘Risk Management System (RMS)’, which the tax department uses to identify ITRs that may need further investigation.

Has your Income Tax Refund not arrived yet?

If your ITR has been identified through the tax department’s risk management system, information about it will be sent to your email address. You can also see this intimation of the tax department on the e-filing portal. If your return is stopped under the Risk Management System (RMS), then the return will not be processed further until you resolve the issue due to which it has been stopped.

Pay special attention to the fact that if you do not take any action on this intimation sent by the tax department, then the department can also issue you a notice.

RMS identifies wrong claims

S Ramakrishnan, former Chief Commissioner of the Income Tax Department, says that in the last few years, the department has caught many fake claims of tax returns and has implemented the risk management system to stop such claims. That is why such emails are issued to taxpayers to confirm their claims before issuing refund.

If your income tax return has been identified under the department’s risk management system, then your confirmation is required on the claims/deductions/defaults in the return made by you. That is, when your ITR is selected under this process, it indicates that the department wants to verify certain aspects of your return to ensure the accuracy of your tax refund claim.

Where to check if you have received this information from the Income Tax Department

According to the Income Tax Department website, for this you first have to login to the e-filing portal. Once this is done, go to Pending Action and click on Worklist. Under the ‘For Your Action’ tab, you can find it.

What to do to submit a response?

To submit your response, first log in to the e-filing portal. Then go to Pending Action and click on Worklist. After this, choose the correct option and submit your response for refund confirmation.

Related Articles:-

Ayushman Bharat Scheme: How to apply for Ayushman Bharat card, who are eligible for free health insurance, which diseases are covered

Government has changed the rules of PPF and Sukanya Samriddhi, do the work before October 1! Otherwise the account will be closed

Indian Railways Festive Special Train: Railways will run 6,000 special trains on Diwali and Chhath, check train list

- Advertisement -DISCLAIMER
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

Exit mobile version