Income Tax Refund: After filing ITR, if your refund has not come yet, then check the 143 (1) notice from Income Tax. It will show the status. At the same time, check the bank account details by logging in to the account.
Income Tax Refund status: The last date for filing Income Tax Return (ITR) by the Income Tax Department was 31 July 2022. However, even after this, taxpayers can file their tax return. But, now it can be filled with penalty. Out of this, there is a penalty of Rs 5,000 for those in the high salary bracket and Rs 1,000 for those in the low salary bracket. But, the question is, those who have filed their tax return in July and their refund has not come till now, then what can be the problem? In how many days will the refund be issued? So let’s understand how to solve this puzzle…
Here’s how to check your income tax refund status
- If you also had to get income tax refund, then you can check its status online.
- The status can be checked on the Income Tax e-filing portal or from the website of NSDL.
- First of all go to the new e-filing portal of Income Tax Department. Login here.
- Then click on View Return/Forms.
- Now select Income Tax Returns and enter the assessment year.
- Now you will know the status of refund.
- Information about refund status can also be found through the website of NSDL.
Why may your income tax refund get stuck?
- Sometimes the refund is not received even after the release of money from the Income Tax Department.
- In cases of income tax refund getting stuck, there can often be a mistake in the details of the bank account.
- If you have entered your account details incorrectly while filling the form, your tax refund may get stuck.
- In such a situation, you have to correct the details of the account on the website of the Income Tax Department.
- After that you will again be eligible for this refund.
- Once the department assesses your verified ITR, you will not get any refund.
- Under section 143(1) of the Income Tax Act, the notice will show whether the tax department will give you a refund or not.
- If the notice shows you refund then it will be issued, if the notice shows zero refund then it means that your refund claim was not accepted. This situation occurs when your calculations do not match with the department’s calculations.
- Your refund has been processed by the department, but you have not received it due to wrong bank details. So you can request the department to re-issue it after providing the correct bank details.
- Once you have filed and verified your ITR, regularly check the status of your return to see if you have claimed refund.
- This helps you track your ITR processing and refund. It also helps in ascertaining whether you have committed any mistake while filing the return.
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