Income Tax Return: Many people have not received their income tax return refund yet. What should they do in such a situation and what could be the reasons due to which there is a delay in getting the ITR refund. Generally, in how much time does the income tax return refund come? Know here:
Income Tax Return: Delay in refund after filing Income Tax Return (ITR) is common, which troubles many taxpayers. It is important to know when the refund money should come and what can be done if the refund is delayed so that you can exercise your rights and get your refund money.
Verification process has to be completed
Speaking to news agency IANS, CA Adarsh Jha, MAG Auditor of GMR Group, said that if taxpayers have not completed the verification process of their ITR through Electronic Verification Code (EVC) or by submitting signed ITR-V to the Central Processing Center (CPC), then the refund may be delayed and the taxpayer has to e-verify the return within 30 days from the date of filing the return.
Delay in processing of Income Tax Return (ITR) may cause delay in refund. He said that if the taxpayer has not completed the e-verification process of his ITR then the refund may get delayed.
Is there any mistake in filling ITR? Mistakes in ITR like difference in income, error in bank account information, error in PAN details etc. can also cause delay in refund. Apart from this, non-matching of income with 26AS and AIS, incorrect bank account information, error in PAN details can also cause delay in refund. He said that nowadays the Income Tax Department uses advanced tools to verify the details in the Income Tax Return before issuing the refund.
Adarsh Jha said that if there is a delay in getting the refund, then first of all you should check the status on the Income Tax e-filing portal. This will give you information about the current stage of processing and any issue that needs your attention.
Request re-issue of tax refund
If the delay is excessive and unexplained, you can lodge a complaint through the ‘e-Nivaran’ section on the e-filing portal or contact the CPC helpline for updates. If a refund fails due to mismatch of bank account, first update the bank details in the income tax portal and then request re-issue of tax refund.
How to request for re-issuance of ITR?
Regarding this, CA Adarsh Jha told that log in to the ITR e-filing portal and go to the ‘Services’ tab and click on the ‘Refund Reissue’ button. After this a new web page will open, click on the ‘Create Refund Reissue Request’ option there.
After this, select the ITR for which you want to re-issue the refund. After this, select the bank account in which you want to receive the refund. If your bank account is not verified, then first it has to be verified and then proceed and choose Aadhaar OTP, EVC or DSC for verification.