ITR Refund Status: Important news for taxpayers. If you have also filed income tax return and your refund has not yet come, then definitely read this news once. Actually, today in this news we are going to tell you about 5 such mistakes, which are very important to keep in mind during ITR filing.
If you have filed Income Tax Return (ITR) and your refund has not yet come, then this news is for you. Actually, taxpayers make some mistakes while filing ITR, due to which the refund received gets delayed or gets stuck. We are going to tell you about 5 such mistakes, which are very important to keep in mind during ITR filing.
Income Tax Department warns –
Even before the deadline for filing ITR, the Income Tax Department often advises through social media and messages that the information entered in ITR should be submitted only after checking it thoroughly. Because in case of mismatch of these information, the income tax refund you get may get stuck. Apart from this, this hindrance can also arise in case there is no e-verification of the income tax return filed by you.
Bank detail mismatch –
After filing the income tax return, the refund is usually directly credited to the taxpayer’s account within 30 days or a check or demand draft is sent to his address. In such a situation, it is most important that the bank details are completely correct while filing the return, because the refund money also comes into this account. If there is a mismatch in the bank account details, there may be a delay in getting the refund or it may get stuck.
Mismatch of 26 AS –
Due to mismatch of details during ITR filing, you may face delay in refund. Whenever you file Income Tax Return, Form 26AS is required. It is only with the help of this form that you come to know how much income tax you have paid on what kind of earnings you have paid in the entire financial year. If understood in simple words, Form 26AS is a kind of tax statement document. It is important to check this form before filing the return.
AIS mismatch –
While filing returns, not only 26 AS but also AIS is required. This document has the same importance in filling ITR as 26AS. In fact, in case of mismatch of data present in both, the ITR filed by you can be rejected. Such a taxpayer will have to file a revised return again. The department has already clarified that both the forms are required to file the return.
Let us tell you that while 26AS contains the details of taxes paid and transactions during a financial year, in AIS, apart from the tax paid by you, the income from different sources throughout the year, interest, dividend, long term profit and There is other information including refund.
E-verification of ITR-
E-verification of ITR is required within 30 days of filing it. If this is not the case, your income tax return will not be considered filed. Therefore, it is important to take special care of this matter. Let us tell you that only after e-verification, your ITR submission is considered complete and after this, refund is also issued by the department. Along with this, let us tell you that the date of e-verification is also considered as the filing date of the income tax return filed by you. If this is not done your refund may get stuck.
If there is a delay in e-verification, then taxpayers may also be fined. There is a provision to pay a fine of Rs 1,000 for those with an annual income of less than Rs 5 lakh and Rs 5,000 for those with an annual income of more than Rs 5 lakh.
Dues of the previous financial year –
The taxpayer filing ITR should make it clear that he does not have any dues of the previous financial year. If you have some outstanding from the previous financial year, there may be a delay in the ITR refund you get. In such a situation, it is important that your refund will be used to settle those outstanding amounts. However, the department also gives you information in this regard through a notice.
