new Delhi. According to the notification issued by the Income Tax Department on July 17, from April 8 to July 11, an amount of Rs 24,603 crore has been released to 19.79 lakh taxpayers. Corona virus ( coronavirus ) Due to the economic problems of the people, the department is taxing the taxpayers of the country as soon as possible. At the same time, there are many people who are still waiting for their refund. If you have filed your Income Tax Return within a certain period of time and are still waiting for your tax refund, then let us also tell you what the reasons for the delay can be.
Possible reasons for delay of tax refund
After ITR processing, it usually takes about a month to get a tax refund. According to Kapil Rana, Founder and President of Tax Return Filing Service Provider Hostbook Limited in the media report, processing of ITRs from the centralized processing sector normally takes 20 to 45 days to complete. For refund claims up to Rs 5 lakh, taxpayers get direct bank credit within five to seven days of issue of refund. However, there may be other reasons for delay of tax refund. If the tax department raises any clarification or question regarding the filing of income tax return, then it can also be delayed.
Refunds are withheld
According to media reports, according to Shilpa Bhatia, director (direct tax) of AKM Global, refunds are usually withheld if there is a difference in the ongoing assessment for the relevant year or the information held by ITR and the department. If you get any query from the tax department on your mail, then it is very important to answer it without any delay. At the same time, easy mistakes like writing wrong bank account in ITR form can also be the reason for delay in refund. So, if you have given the wrong account number in the ITR form then you can change it online also.
Check tax refund status from here
– Go to the website www.incometaxindiaefiling.gov.in.
– Details like PAN number, password and captcha code will have to be entered and login.
– Click on ‘Review Returns / Forms’ and select ‘Income Tax Returns’ from the drop down menu.
– You have to select the assessment year for which you want to check the refund. – You have to click on your enrollment number.
– You will see a pop-up on the screen which will give information about the timeline of filing of returns.
Also, the assessment year, status, refund cancellation reasons and payment methods will also be given.
Check refund status from NSDL website
– Tax refund status can also be checked on NSDL website.
– Refund status comes on the website 10 days after the refund is sent to the department.
– You must first go to https://tin.tin.nsdl.com/oltas/refundstatuslogin.html.
– After that you have to enter your PAN number.
– The year you want to check the status of your refund will have to be selected.
– After that you will see captcha code which has to be typed and clicked on submit button.
– After that you will get information about the status of your refund.