ITR Verification: The last deadline for filing returns was given by the Income Tax Department as 31st July, but the ITR of many people has not been processed yet.
Income Tax Return: The last date for filing income tax return for financial year 2023 or assessment year 2023-24 has long passed. However, many taxpayers are still waiting for their ITR processing.
After filing tax return, it is necessary to verify. You are eligible for refund only after verification. However, the refund comes only when the IT department processes it. In such a situation, income tax refund of many people has not yet come and they are waiting for ITR refund.
If you are also waiting for ITR refund and the refund has not come yet, then there may be some reason due to which the refund is not coming. Here information about those reasons is given. One of the biggest reasons could be that the information you have submitted in the return is not matching with Form 26AS or AIS.
Why is the refund not coming?
This means that if you have declared some more amount in ITR and the AIS documents claim more or less amount then your ITR may get stuck, for which you will have to file ITR again.
Whereas if you have paid less tax and filed ITR, then a notice will be sent to you by the Income Tax Department and you will be asked to make the full payment. Also will ask to declare the correct amount. You can get refund by filing revised ITR.
When will the processing happen?
Unless all the information in the return is filled correctly and verified, the Income Tax Department will not process your return, which means there will be further delay in getting your refund. In such a situation, you should complete this work as soon as possible.
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
