ITR Refund Delay: The deadline for filing Income Tax Returns (ITR) on September 16th has come and gone. While most folks have received their refunds, a lot of taxpayers are still in limbo. If your refund hasn’t hit your bank account yet, there could be a few reasons for the hold-up. On the bright side, if you submitted your ITR before September 16th, the Income Tax Department will start charging you 0.5% interest each month from April 1st. If you filed late, the interest kicks in from your filing date. Let’s dive into the reasons behind the refund delays and how you can track them…

3 Key Conditions for Processing ITR Refunds

An income tax refund will only be processed if three essential conditions are satisfied: You need a valid user ID and password; your PAN must be linked to your Aadhaar number; and you must have submitted a refund claim in your ITR. If you miss any of these three requirements, your refund could be held up.

How Long Does It Take to Get an Income Tax Refund?

According to the ITR portal, it usually takes about 4-5 weeks for a refund to be credited. If it’s been longer than that, it’s a good idea to check if the IT department has sent you any notifications, emails, or messages regarding scrutiny.

How to Check Your ITR Refund Status?

1. Visit the e-Filing portal.
2. Log in with your user ID and password.
3. Click on the e-File tab and select View Failed Returns under Income Tax Returns.
4. Choose the assessment year for which you’re expecting the refund.
Here, you can view both the refund status and the entire process timeline. This can help you pinpoint where your refund might be stuck.

5 Major Reasons for Delayed Refunds

1. Your ITR doesn’t match the TDS reflected in Form 26AS or AIS.
2. If you’ve incorrectly claimed exemptions like 80C or 80D, your refund might be halted.
3. People with salaries often make errors in HRA, LTA, or other allowances.
4. If there’s a mismatch in your income, the department may classify it as a defective return and hold it.
5. If the department had any doubts last year, your return might face extra scrutiny this time around.