8 Ways to Receive Income Tax Refund in Quick Way

Posted on Posted in Income Tax, Income Tax Return, IT Return

8 Ways to Receive Income Tax Refund in Quick Way

The tax payers who had claimed Income Tax returns than the actual amount, then there is a chance of getting back the additional amount as a refund. The tax payers can receive the Income Tax refund to their valid and registered bank account. The process of claiming for Income Tax Refund is pretty simple via the online mode. Sometimes, the tax payers fund it difficult in receiving their Income Tax refund little late. There are some simple ways to receive Income Tax refund in a faster way by the Income Tax department in India. Check it out!

  1. File ITR within Stipulated Time

The tax payers need to file their Income Tax returns in the given time before the completion of the due date. If the tax payers file IT returns earlier, the Income tax department processes the returns faster and they are eligible to get refund instantly.

  1. File ITR via Online Mode

The Income Tax department has made it compulsory for all the citizens of India to file their Income Tax returns via online web portal. Instead of doing it in a manual way, it is quite simple and quick for all the users file their Income Tax returns via online process.

8 Ways to Receive Income Tax Refund in Quick Way

  1. Pick Precise ITR

Usually, most of the tax payers fail to file the right Income Tax return form at the time of e-filing. If you are a regular tax payer, you need to know the precise ITR form. Otherwise, you need to take guidance from an expert before choosing the form in order to file the Income Tax Returns for the current financial year. There are many possibilities of receiving IT refund faster if you submit your ITR in a right way within the due date.

  1. Refer the Correct TAN

TAN is quite important for each and every individual associated with the service tax. If you provide the TAN number in a wrong way in the Form No. 16 or 16A, then the tax payer may be unable to find all his credits, The tax payer will no more applicable for the IT refund. In order to make sure whether you have provided the precise TAN number or not, you need to recheck the form before filing the Income Tax returns online.

  1. Match 26AS with Form 16

You need to make sure that the Tax Deducted at Source or TDS must be mentioned correctly on both the forms namely Form 26AS and Form 16/16A.

  1. Provide Correct Bank Details

At the time of filing the Income Tax returns, the tax payer needs to provide valid bank details to the Income Tax department. If you provide wrong details of your bank, there will be delay in receiving the IT refund.

  1. Send ITR-V Copy to Bangalore

Most of the people forget to send ITR-V copy to the CPC Bangalore after filing their Income Tax Returns. After paying their tax online, the payer is accountable to take the print out of ITR-V and sign it on the form. Later, the tax payer needs to submit the copy of ITR-V to the concerned CPC Bangalore within a period of 20 days.

  1. Track the Status Online

After the successful filing of IT Return, the payer has an option of tracking the status of the returns via online. From the IT department, they will receive a confirmation that they are liable for refund.

These are the different ways a tax payer needs to follow in order to receive the Income Tax refund faster online.

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