ITR Refund 2025 Many people who filed ITR for the financial year 2024-25 are still waiting for their refund. It has been more than a month since many taxpayers filed their ITR but a large number of people have still not received their refund. This year it seems that the refund process is moving slower than usual.
ITR Refund 2025: Income tax refund is available when the tax you have paid to the government is more than your actual tax liability. This excess tax may be due to higher TDS deduction or advance tax payment during the year. You can claim the refund while filing your income tax return.
Once the process is completed, the refund is usually deposited in your bank account within 4 to 5 weeks of e-verification. But just filing ITR does not give the return. Many important things have to be done for this. Let us know what to do along with filling ITR if you want to get the return money.
What is Income Tax Refund?
Before we tell you further about ITR refund, it is also important to know what is Income Tax Refund. Income Tax refund is issued by the Income Tax Department when the taxpayer has paid more tax than his actual liability for the financial year.
That is, if you have paid more than the tax, then the government will refund you the money. Generally, taxpayers pay their tax while filing returns after calculating their tax dues under the concept of self-assessment.
It is necessary to do this work to get the return
If you have not added your bank account number on the Income Tax portal, then your refund may get stuck. Because for this, it is necessary to add a bank account. Sometimes accounts are closed or deactivated, in such a situation you are not able to get the return money. Therefore, you have to go to the portal and add the bank account.
The refund amount also includes interest at the rate of 0.5% per month (6% per annum) from the date of payment to the date of issue of refund.
How to add bank account to get ITR refund?
- If you want to get ITR refund and have not added a bank account on your income tax portal, then you can add and verify the bank account by following the steps given below.
- First of all you have to login on the e-Filing portal. For this, it is necessary to have a user ID and password.
- After logging in, you have to go to your My Profile section.
- After going to the profile, you have to go to My Bank Account.
- After this go to Add Bank Account.
Now a new page will open in front of you and enter your bank account number, select account type and holder type and fill the IFSC code of the bank and click on Validate.
When this process is completed i.e. validation is successful, you will get a message. Along with this, its information will also appear on your screen.
