Income Tax Refund Status | Income Tax Refund Enquiry | IT Refund Status : Have you filed your Income Tax Returns this year? It is quite essential for all the income tax payers to file their income tax returns on time. If you file your income tax returns online, you need to pay some penalties because of late payment. After filing your income tax returns, if you find that you have filed more than the actual amount. In such a case, there is a possibility of getting refund for your income tax. The taxpayers could check their income tax refund status online if the income tax department delayed the refund than the actual time.
There are some myths and queries in several taxpayers’ mind regarding the Income tax refund. You might have some doubts like claiming a refund, receiving a cheque from the income tax department and a lot more queries. In order to help the tax payers, we have come up with a simple guide that assists you in the best way to check the income tax refund status with much ease. Here, in this post, you can check out each and every detail about the process of checking for Income Tax refund status online. Have a look!
Check Income Tax Refund Status
If you have filed Income tax returns in the current financial year and requested for a refund, there is a need of checking for the status of your income tax refund status. In this post, you can check out the simple procedure to check the status of your income tax refund online. Once after sending a request to the income tax department regarding the Income tax refund status, it takes pretty much time from the department to get some reply.
The income tax department usually takes some time so as to process your refund request and authorize your refund claim request. You need to take at least 2 to 3 weeks so as to check the status of your income tax refund online after submitting your request. You need to have your PAN card number alongside your assessment year so as to check the status of your Income Tax refund. There are two different ways to check out the status of Income Tax refund.
One way is to check the status through online mode i.e., directly from the official web portal of Income tax department. The other way is to check out the status through offline mode i.e., through the toll-free numbers. You can check out the Toll-free numbers you can make a call so as to check the status of your Income tax refund. Check it out!
- 1800-425-2229: Call this number to check the status of your refund after claiming your e-filed returns online
- 1800-180-1961: To ask queries regarding IT returns filing and other refunds
- 1800-425-9760: Call this number for queries regarding the banking-related transactions and other doubts
What is an Income Tax refund?
In order to give you a brief idea, we have included the actual meaning of Income Tax refund. In general sense, we pay income tax to the concerned income tax department for the income that we earn on an annual basis. If the limit of your earnings exceeds beyond the limit, you are liable to pay or file the Income Tax returns for that particular amount. In fact, tax deducted at 10 percent on your annual earnings. If the tax is more than the actual amount of tax you need to pay, in that case, you can claim for the income tax refund.
You can send your claim or request to the income tax department asking for the refund on behalf of your filed income tax returns. To be precise, Income Tax refund is nothing but the difference between actual paid tax amount and the alleged tax accountability. If the income tax department finds that your claim request for refund is quite reasonable and true, it refunds your money back. If you submit a detailed data of the income tax you have paid along with the deduction at the source, the government generates your refund as soon as possible.
If the tax amount deducted by the IT department is more than the actual payable amount, you can claim for a refund. In general, the department takes at least 2 to 3 weeks of time for processing so that you can check out your status online. In a period of about 4 to 5 months after claiming your refund request, your bank account credits with the refund amount.
Mode of Income Tax Refunds
There are two different modes that the tax payer receives the Income tax refund from the income tax department. Check it out!
The Income Tax Department credits your IT refund to the authorized bank account of the tax payer. The tax payer needs to give some of their details that include the following:
- Bank Account Number
- MICR Code of the authorized bank
- Permanent Address
Other mode of receiving your income tax refunds is through cheques. The concerned department sends the refund in the form of cheque to the registered address of the tax payer. You need to make sure that the address of the tax payer given correctly in the form.
Reasons for Not Receiving Income Tax Refund
There are numerous reasons behind not receiving your income tax refund even after claiming it.
- Late Processing
If the Income tax department not yet processed your income tax returns refund claim, you will not receive your refund amount. You need to make sure that you have sent the income tax returns in less than 4 months after filing your tax returns.
- Not Requested for Refund
Even if you made a request for the refund but the department does not receive your request or claim with proper deductions. You will not get your refund amount from the department.
- Incorrect Computations
If the calculations that you submit to the department are incorrect or wrong, then the Income tax department computes all of them and find out that the computations are wrong. In such a case, the department do not send your refund amount. Instead, it sends you a notice regarding wrong calculations.
This is all you need to know about the process of checking for the income tax return status.