Income Tax: Even after about a month and a quarter of the last date of 31st July for filing ITR, many people have not received their refund. Taxpayers are worried about this and are constantly querying about it on Google. Due to which Income Tax Refund has become one of the top searches on Google.
Income Tax Refund: If you are also waiting for the refund even after filing the income tax return on time, then instead of getting upset, you need to find out why your refund has not come yet? This time the last date for filing income tax return was 31 July 2024. Income tax refund has been issued by the Income Tax Department to those who filed their ITR on time. Right now there are many taxpayers who are waiting for the refund. But you may not know that there can be many reasons behind the ITR refund not being processed.
Time for refund to come within 30 to 45 days
The main reasons for the delay in refund include wrong bank account information or claiming wrong income tax refund. Refund is issued by the Income Tax Department to any tax payer when the amount already paid is more than the actual liability. The tax refund is calculated by the Income Tax Department keeping in mind all the deductions and exemptions. Usually the income tax refund money is transferred to the bank account within 30 to 45 days. In some cases, the tax refund is also given to the taxpayer within two weeks.
Steps to take if you do not get refund
After filing the Income Tax Return (ITR), you have to get the ITR verified. After this, it is processed by the department. If the information given by you is found to be correct, then you are informed under section 143 (1). If you are to be given income tax refund, then it is paid along with interest (if any). If you do not get the refund within 30 to 45 days, then you need to take some steps on your part.
Request to re-issue refund
The reason for delay in refund can be any mistake made by the taxpayer. Apart from this, the reason for delay in refund by the department can also be any other problem, which you will come to know about only when you take action. If there is more time, you can request for re-issuance of the refund. Experts say that re-issuing income tax refund is a process under which the taxpayer requests that the refund which has not been processed properly be re-issued.
How to request for re-issue of refund
>> First of all go to the ITR filing portal and login with your user ID and password.
>> After this click on the ‘Services’ tab and click on ‘Refund Reissue’ here.
>> On clicking here, a new webpage will open and here you have to click on ‘Create Refund Reissue Request’. After this, select the ITR for which you want to request for refund re-issue. Once this is completed, click on Next and select the bank account where you want to get the refund.
>> After this click on Next and then select Aadhaar OTP, EVC or DSC from the verification method. After getting the OTP, enter it and process it.
