Content
- How to Check Income Tax Refund Status With The Help Of E-Filing Websites?
- How to Check Income Tax Refund Status With The Help Of TIN NSDL Website?
- What are The Different Types of Income Tax Refund Statuses?
- How to Pay Income Tax Refund via Direct Credit and Cheque?
- How to Request for Refund Reissue?
- Reasons for a Delay in Receipt of TDS Refund:
- How to Raise a Complaint Against Delay in TDS Return?
How to Check Income Tax Refund Status With The Help Of E-Filing Websites?
The issuance of an Income tax return comes into play when the total amount of paid tax is higher than the amount of due tax. In such cases, the taxpayer can receive the extra tax paid as a refund. You can easily track down the refund status through the E-Filing website. But how to check the TDS return status? Here's all you need to know! There are several steps that you need to follow to check the status. These are mentioned below:
● Go to the Income Tax e-filing website
● Use your PAN ID and password to log in to your account
● After logging in, the option 'View Returns/Forms' option will be visible on the dashboard.
● Click on it and select the year of assessment for which the tax return has been filed
● Next, you need to click on the acknowledgement number of the income tax return whose refund status you need to check.
● All the details will be instantly displayed on the screen. Search for the tab called 'refund status' and click on it.
● You will automatically display the refund status with the payment mode and total amount.
If you have already received, your payment or the payment has been successfully initiated and credited to the recipient's bank account. You will find the status to be displayed as 'Refund paid'.If there has been any problem with the refund processing, the status will show as 'Refund cancelled' or 'failed'. You must contact the Income Tax Department for more relevant information in such a situation.
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Frequently Asked Questions
In the case of delay concerning income tax refund, the department will offer no compensation. However, the tax department usually offers commitment regarding processing funds as early as possible. This ensures a quick and hassle-free procedure for taxpayers. If you are facing a delay, you can raise your complaint with the Tax department.
But it is also essential to know that the procedure involved in tax refund includes multiple stages, which take a considerable amount of time. Sometimes delays might also occur due to technical glitches or errors on the taxpayer's part. Therefore, filing the tax refund correctly is advised to avoid any hassle or delay.
You can become eligible for an income tax refund only if you have paid more tax than the amount required for a specific financial year. The overpayment might occur due to some calculation errors or as a result of disregarding any tax reductions you are eligible for while filing the tax.
Considering the Income Tax Act regulation, there's no particular time limit for claiming a refund for Income Tax. But it would always be wise to claim the rebate as early as possible once the tax return has been successfully filed for the current assessment year.
At the time of filing the original income tax, if you have not claimed a refund, what you can do is you can file a revised return to claim it. This can be filed in a year, counting from the end of the previous year's assessment.
Usually, the time taken to reflect the income tax refund in the recipient's account depends on several factors. These factors include the accuracy of all the details provided, including the bank account, time involved in processing the refund by the bank, and the total workload of the tax department for the particular year.
Generally, the department of income tax processes returns within a few weeks after filing the return after processing the refund and approval on the part of the tax department. It sends a notification to the bank for a refund. The further time that the bank takes depends on several procedures and policies. Generally, the process is completed within a few days to a few weeks.
Yes, you can check the status of your income tax refund online by visiting the tax e-filing website. Follow the steps mentioned below after visiting the website:
● Log in to the account through the user ID and enter the password.
● After logging in, click on the option called "View Returns/ Forms" that you will find on the dashboard.
● Click on the assessment year whose refund status you want to check.
● Click on the number of acknowledgement of the concerned income tax return
● Move down to see the quality of the income tax refund successfully.
There exists a vast difference between the both, and the difference encompasses mainly in the concept, which is explained below:
Income Tax Return: It is a kind of form that needs to be filed by the taxpayer with the Income Tax Department to make the department aware of the total income earned in a particular financial year, along with claiming exemptions and deductions and calculation of the total tax liability for the year. The individuals annually file this, firms, companies and anyone with taxable income.
Income Tax Refund: This is a payment that the Income Tax Department makes to the concerned taxpayer. This is done when a taxpayer's paid amount of tax exceeds the required payment of yearly tax liability. The excess amount as the refund is paid back by the department of Income Tax to the taxpayer.