North India Statesman
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Income tax refund: The last date for filing Income Tax Return (ITR) has passed on 16 September. Many people have got their refund, but if you have not yet come, then it is important to take care of some things. The refund process is usually completed in 1 to 5 weeks, but in some cases it may also be delayed. In this article, learn how you can check the possible reasons for your refund status and delay.
How many days does it take to return money?
When you make your ITR e-satisfy, the Income Tax Department starts the refund process. Typically, the refund for simple returns comes within a week, while for complex returns such as business income, capital gains, or high -cut cases, it can take 2 to 5 weeks. If the refund is not available even after this period, then you should check the errors or notice received from the department in ITR.
How to check the condition of refund?
You can see your refund status on the official website of income tax (Incometax.gov.in). For this, follow the steps given below:
Log in: Log in on incometax.gov.in using your PAN card and password. If you have filed a return through a CA and do not have a password, then take a password from them.
PAN-Aadhaar link: Make sure your PAN is link to Aadhaar. If not, click on the ‘Link now’ button to link it.
Services Tab: Click ‘Services’ in the top menu and select ‘Know your money return status’.
Return Status: Go to ‘Income Tax Returns’ in ‘E-File’ tab, then choose ‘View Returns’. Here you will see the status of refund.
Possible cause of delay in refund
There can be many reasons for delay in refund. Some common reasons are as follows:
Bank account priority: Your bank account is not pre-satisfied on the income tax portal.
Non -matching of the name: The name recorded in the bank account does not match the PAN card details.
Wrong IFSC Code: The bank’s IFSC code may have been recorded incorrectly.
Closed account: The bank account mentioned in ITR has been closed.
Lack of PAN-Aadhaar Link: The process may be delayed due to lack of link to PAN base.
Correspondent limit and interest
There is no upper limit of income tax refund. Refunds of more than Rs 50,000 are additional examined, which may delay some. If the refund is delayed, the Income Tax Department takes interest at the rate of 0.5% per month.
What should be done?
If your money refund has been stopped, check the following:
Whether or not ITR has been e-satisfied.
Have you responded to the Income Tax Department notice or not?
Verify bank account details and PAN-Aadhaar link.
You can speed up your refund process by following these steps. For more information, Inometax.gov.in Go to
