The Income Tax Department has issued a tax refund of more than Rs 71,000 crore to more than 21 lakh taxpayers between April and July of this year. Your IT refund was yet to be found, but has not been received, there could be several reasons. Some of these reasons may also be from your side.
Income Tax officials say that if a person or firm does not get an IT refund on time, there can be many reasons. The party itself is responsible for some reasons. We are giving you some reasons, due to which there is a delay in getting refund.
Do not reply to emails from income tax department on time
The Income Tax Department (IT Department) says that when taxpayers do not respond timely to emails sent from the Income Tax Department, their refund gets stuck. From time to time, the Income Tax Department emails the taxpayers about their outstanding demands, any difference in their bank accounts and refunds. Until this information reaches the department, they do not process refunds.
Bank account not prevalidated
The second biggest reason for not getting refund on time is the lack of pre-validate of the bank account. If the taxpayers do not prevalidate the bank account in which the income tax refund is due, then the IT refund gets stuck. Therefore, taxpayers should prevaluate or verify the bank account associated with the Income Tax Department. After filing the tax return, whatever returns will be generated will be sent to the same account through the Income Tax Department Centralized Processing Center.
IT returns not verified on time
After filing IT return (ITR), he has to verify online or offline. Many times it happens that taxpayers fill their Income Tax Return on time, but they do not verify their returns. Your return is not processed until you verify it. Therefore, if you want your return form to be processed on time, then verify it immediately.
Returns are processed in 2 to 3 months
Officials of Income Tax Department say that it usually takes 2 to 3 months to process Income Tax Return. As soon as this is processed, their refund is sent to the taxpayer’s account. Sometimes it is delayed for unexpected reasons, but the situation is not common.
Check refund online
If a taxpayer does not get a refund within these days, then immediately go to the Income Tax Department website https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html. Log in by entering your user ID and password and some more information. After this you go to My Account and click on “Refund / Demand Status”. You will get your desired information.