ITR Refund Delay : If you filed your Income Tax Return (ITR) by the deadline and its status shows “Processed,” but your refund hasn’t yet been credited to your bank account, there’s no need to worry. This isn’t just happening to you. Many people are facing this problem. Everyone’s question is when will their ITR refund be returned.
The Income Tax Department has begun depositing ITR refunds into the bank accounts of eligible taxpayers who filed their returns on time. However, many taxpayers have complained that they have not yet received their ITR refunds despite the processing being completed. It takes the Income Tax Department 7 to 21 working days to process refunds after confirming your ITR filing. According to the Income Tax Department, it typically takes 4-5 weeks for the refund to be credited to a taxpayer’s account.
Know the status
Visit the e-filing website of the Income Tax Department https://www.incometax.gov.in/iec/foportal/.
You login with login details and OTP.
Go to the ‘Refund / Demand Status’ section. Here you will find information about when the refund was processed and the amount sent.
If the status shows ‘Processed’ but the money has not arrived, carefully check the bank details such as bank account number and IFSC code.
If all your details are correct then you will have to submit a refund reissue request.
Once this request is submitted, the refund process begins again, and the money can arrive within a few days.
Why are ITR refunds delayed?
If your bank account number or IFSC code is incorrect, or your bank account is not e-verified, discrepancies between Form 26AS and ITR, TDS errors, the bank rejecting the refund amount, or your bank account not being linked to Aadhaar are some of the reasons that can cause delays in ITR refunds.