ITR Refund– Big news for taxpayers. The deadline for filing your ITR (Income Tax Return) ended on September 16th. Many taxpayers are now awaiting their refunds. Many have received their refunds, but others are still waiting for them to arrive in their bank accounts. Here’s how you can find out when you’ll receive your income tax return.
If you paid excess taxes this financial year, you may receive an income tax refund. This occurs when the amount of tax you paid through TDS, TCS, advance tax, or self-assessment tax exceeds your actual tax liability. The government refunds this amount to your bank account. Sometimes, the tax department may take time to process or examine your return.
Refunds are processed only after you e-verify your return. Refunds typically arrive in your bank account within 4-5 days. If the money doesn’t arrive within this timeframe, taxpayers should check their ITR and look for email notifications from the IT department.
How to check ITR refund status?
Step 1: First of all go to the official website of Income Tax e-filing www.incometax.gov.in.
Step 2: Log in. If your PAN isn’t linked to Aadhaar, a notification will appear. Click Link Now to link it, or click Continue.
Step 3: After logging in, go to the e-File tab and click on Income Tax Returns.
Step 4: Select View Filed Returns. Here you can view the refund status for your respective assessment year. Click View Details to view the complete status of your filed ITR.