Income Tax Refund: The Income Tax Department has issued a tax refund of Rs 1.93 lakh crore to 2.26 crore taxpayers till March 20 in the current financial year (2021-22).
Income Tax Refund: The Income Tax Department has issued a tax refund of Rs 1.93 lakh crore to 2.26 crore taxpayers till March 20 in the current financial year (2021-22). According to the department, of these, 1.85 crore refunds worth Rs 38,447.27 crore are for assessment year 2021-22 (financial year ending March, 2022).
CBDT tweeted
The Income Tax Department wrote in a tweet on Thursday, “The Central Board of Direct Taxes (CBDT) has issued refund of Rs 1,93,720 crore to 2.26 crore taxpayers during April 1, 2021 to March 20, 2022.” This includes personal income tax refund of Rs 70,977 crore and corporate tax refund of Rs 1,22,744 crore.
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.
You can complain to the Income Tax Department sitting at home
Even after there is no disturbance, the refund has not come, then it can be complained to the Income Tax Department. The Income Tax Department has issued a toll free number for this. Taxpayers can also register complaints through the e-filing portal of the Income Tax Department.
