ITR Refund: Several months have passed since the September 16 deadline for filing income tax returns. Still, there are many taxpayers who are still waiting to get their share of refund. Most people have received refunds from the Income Tax Department, but there are still lakhs of taxpayers whose money is still stuck. Due to this delay, people are repeatedly checking status updates or cross checking their submissions. But despite this, leave alone any refund, not even a single message has been received. Many people are worried because of this.
Why is there delay in refund?
Central Board of Direct Taxation Chairman Ravi Aggarwal had informed in November that the department is analyzing some refund claims which have been ‘red-flagged’ by the system due to ‘high-value’ or some deduction claims. He also said that if there is any problem, he has also suggested the tax payers to ‘file a revised return’.
The Income Tax Department starts processing the refund only when the ITR is e-verified. According to the Income Tax Department website, after this step is completed, the refund is usually credited to the account in four to five weeks. If there is a delay in getting the refund, then there are some special reasons for it. For this, first we have to understand why there is a delay in getting the refund?
- If there is an error in the bank account, there may be a delay in getting the refund. If the account number or IFSC code mentioned by you is wrong, then there will be problem in receiving the money, hence it is better to pre-validate the account so that the money comes directly into the account.
- If your PAN and Aadhar card are not linked together or there is some discrepancy in the name-date of birth, in this situation also there may be a delay in getting the refund. Apart from this, the refund money may also get stuck if the information given in the form does not match the information given in Form 26AS or AIS.
- Another major reason for halting of refund is wrong deduction or credit claim in ITR. If you have exaggerated the deduction in 80C and the Income Tax Department somehow gets suspicious about it, your refund may also get stuck. In this situation, the money remains withheld until the correct documents are received from you.
How to check refund status?
- First of all go to the income tax portal eportal.incometax.gov.in/iec/foservices/.
- Then go to the e-filing portal homepage and log in to your account using your user-registered ID and password.
- After login, click on the ‘e-File’ tab above, then click on ‘Income Tax Returns’ and then ‘View Filed Returns’ or ‘View Filed Returns’ one by one.
- Select the correct assessment year and open view details. Here you can check the refund status for the desired year.
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