ITR Refund Status: If you have filled ITR and want to know the status of your income tax refund, then you can check like this.
ITR Refund: Only a few days are left for the deadline for filing income tax return to end. Taxpayers are busy these days in filing their ITR. However, if you have already filed your Income Tax Return (ITR) for the assessment year 2023-24 and are eagerly waiting for your tax refund, then you will be happy to know that the Income Tax portal has launched a new service . With which you can verify the status of your tax refund.
When you file income tax return, you disclose income from various sources such as salary, business or profession, house property, capital gains and other income. Based on these incomes, income tax is calculated, and tax dues, if any, should be paid before filing the return.
This is how you get income tax return
If you have deposited tax of more amount than what is your tax in the Income Tax Department, then you get a refund of the extra amount. The IT department sends intimation letters under section 143(1) of the Income Tax Act, 1961 regarding your ITR refund.
Taxpayers need to note that the income tax refund is processed by the State Bank of India (SBI) and is directly credited to the bank account nominated by the taxpayer in his ITR at the time of filing.
While filing ITR, it is important to ensure that you have entered the correct bank account number and IFSC code. Also, the bank account should be pre-verified on the new income tax e-filing portal of the government and the PAN should be linked to the bank account.
Earlier, taxpayers were asked to verify the status of their refunds on the TIN-NSDL website. However, you can still access this information from the TIN-NSDL website. But a more convenient option has been introduced on the Income Tax Portal (I-T Portal). With this new service, users can directly see the status of their refund.
ITR Filing: How to Check Income Tax Refund Status:
- First of all you have to go to the e-filing portal.
- Then you have to click on the ‘Quick Links’ section, you will see ‘Know Your Refund Status’ then click on it.
- In this section you will have to fill your PAN number, assessment year (current year 2023-24) and mobile number.
- After this you will get an OTP. Fill the OTP in the space provided.
- Finally, ITR Refund Status will appear on the screen.
