Income Tax refunds delayed despite ITR processing? Step-by-step guide
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Don't panic if you haven't received the refund. Photograph: (AI-generated)
Income Tax Returns: The Income Tax Department takes between 7 and 21 days from the filing of the returns to start processing the refund of eligible taxpayers
The last date for filing the income tax returns was September 16. Now the Income Tax Department has started to credit the income tax refunds to the bank accounts of taxpayers who are eligible for returns. Many taxpayers, however, have complained that their income tax returns had been processed by the department, but they haven't received the refunds. Here's what can be done to rectify delays.
Normally, the Income Tax Department takes between 7 and 21 days from the filing of the returns to start processing the refund of eligible taxpayers
The Income Tax Department says that it takes around 4-5 weeks for it to credit the refund into the account of taxpayers.
Here's what to do if the ITR refund is delayed
Don't panic if you haven't received the refund, even if your income tax return is processed.
Here are the possible reasons for Income Tax refund delays
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1. You may have put the wrong account details or the IFSC code.
2. TDS errors could also delay your refunds.
3. Sometimes, banks take 15-30 days to issue refunds.
4. There could be discrepancies in Form 26AS.
Here's what you can do. Check the step-by-step guide.
1. Visit the Official Portal. Use your credentials to log in.
3. Check Refund/Demand Status: Navigate to this section to see the status of your refund.
4. Verify Bank Details: Ensure your bank account number and IFSC code are correct. Incorrect details are a common reason for delays.
5. Submit Refund Reissue Request: If details are correct and you still haven't received the refund, submit this request to initiate reissue.