After filing the Income Tax Return (ITR), many people wait for their refund, especially when they have deposited more tax. In such a situation, the biggest question is how long this refund will be available? According to the guidelines of the Income Tax Department, the refund process starts immediately after filing the return. If you e-verify your return immediately, then the refund does not take much time. But in some cases, the refund can also get stuck, especially if you do not e-verify within 30 days of submitting the return or fill in the bank details incorrectly. Therefore, correct information and timely e-verification are very important.
Necessary steps to get a refund
The entire refund process takes place in several main steps, which are very important for you to know. The first and most important step is to file your ITR with correct and accurate information. Any mistake can stop your refund. After filing the return, it is mandatory to e-verify it within 30 days. If this is not done on time, your return may be invalid, and your refund may be delayed. The refund process starts from the date of e-verification.
After e-verification, the Income Tax Department verifies your return and starts the refund process. If everything is found to be correct, the refund amount is directly credited to your bank account.
Refund time for different ITR forms
The time taken for the refund to arrive for different ITR forms may also vary, as their verification process varies.
ITR-1 10 to 15 days
ITR-2 20 to 45 days
ITR-3 About 2 months
ITR-1 form filers usually get their refund within 10 to 15 days. Last year, for those who submitted their returns based on Form 16, their scrutiny was completed within 10 days. For ITR-2, the time can range from 20 to 45 days, while for ITR-3, it can take up to two months, as it involves in-depth scrutiny of several business details.
How to check refund status
It is very easy to know the status of your refund. You can follow the steps given below:
Visit the Income Tax Department portal (www.incometax.gov.in).
Log in by entering your user ID (PAN number) and password.
Click on ‘My Account’ and open ‘Refund/Demand Status’.
Select ‘Income Tax Returns’ here and view the status.
You can also check your email, as the Income Tax Department sends any information or notice related to a refund through email.
Main reasons for the delay in the refund
If your refund is stuck, there can be some special reasons behind it:
If you have entered the wrong bank account number or IFSC code, the refund may get stuck.
Your bank account must be pre-verified to get a refund.
The refund process can also be stopped if you provide wrong or incomplete information in the ITR.
If your return is under scrutiny, it may take time.
If you have any old tax liability pending, the department can adjust it first.
If your refund claim is rejected, you can request the re-issuance of the refund. In pending cases, you can contact the e-filing portal or your assessing officer. You can also get help by calling the Income Tax Department helpline 1800-103-4455 or emailing ask@incometax.gov.in.