Tax Refund Status: Do you want to check Tax Refund Status, then you have reached the correct place. Here, we will provide you complete details about Tax Refund Status. Income Tax Department gives Income Tax Refund to an Individual if his/her tax liability is less than total Income Tax paid.
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- 1 Tax Refund Status
- 1.1 Eligible Conditions for Tax Refund
- 1.2 Claim for Income Tax Refund
- 1.3 Income Tax Refund Amount
- 1.4 Total time taken to receive tax refund
- 1.5 Payment of Tax Refund
- 1.6 Check Income Tax Refund Status Online
- 1.6.1 1. Refund Status: Expired
- 1.6.2 2. Refund Status: Returned
- 1.6.3 3. Refund Status: Process through direct credit more but failed
- 1.6.4 4. Refund Status : Paid
- 1.6.5 5. Refund Status: Adjustment against outstanding demand for previous year
- 1.6.6 6. Refund Status: Processed through NECS/NEFT and failed
Tax Refund Status
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Eligible Conditions for Tax Refund
There are certain conditions under which all the Individuals are eligible for Tax Refund.
– If a taxpayer pays higher tax as per the self-assessment but his/her tax liability is less via regular assessment.
– Tax Deducted Scheme by the employee or bank is found to be higher as compared to the tax liability after correct assessment.
– When any assessee income is being taxed in the foreign country, Government of India has also made an agreement with the taxpayer in order to avoid double taxation and he/she is taxed in India also.
– If an assessee has not declared any of the investments which will be useful at the time of assessment.
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Claim for Income Tax Refund
One can claim for Income tax Refund if an Individual has paid tax. The last date to file the Income Tax Return is 31st July, which was further extended to August 5, 1027.
Income Tax Refund Amount
The overall difference between the tax liability and the total tax paid is known as Income Tax Refund. IT Department will refund the amount to the taxpayer. An Individual can calculate Income Tax using Income Tax Calculator.
Total time taken to receive tax refund
The total time taken to receive Tax Refund is usually 2 to 6 months. However, if you have paid tax physically, then it will take more time.
Payment of Tax Refund
The Individual will receive the refund directly into his/her bank or by a cheque.
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Check Income Tax Refund Status Online
In order to check Income Tax Refund Status online, you can login into the Income Tax portal. Then go My Account and click on “My Returns/ Form”. Here you will come across various messages, description of each status is given below:
1. Refund Status: Expired
Request for Refund mainly expires after 90 Days. Later, the expiry of refund is resulted into expired and cancelled. Possible steps to take, if you come across this situation.
– If you have applied for refund physically, then contact the liable Assessing Officer.
– If you have applied for a refund online, then you should follow the simple steps given below:
1. Login into Income Tax Portal.
2. Then click on “Refund Reissue” option available under the My Account Tab.
3. Then you have to provide your CPC Communication Reference Number and Refund Sequence Number.
2. Refund Status: Returned
If your Refund Status shows Refund Returned which simply means that refund was sent to you via post but it returned undelivered. Due to this, Cash amount is being returned back to the Cash Management Product (CMP) Center. You should follow the simple steps given below:
– If you have requested physically for the refund, then you should contact Assessing Officer.
– If you have applied online for Refund then follow the simple procedure given below:
1. Firstly, visit the official portal of Income Tax.
2. Log in with your Credentials.
3. Now, click on “Refund Re-Issue” option available under the “My Account” Tab.
4. You have to submit your Central Pay Commission (CPC) Communication Reference number and your Refund Sequence Number.
3. Refund Status: Process through direct credit more but failed
If the refund status says that refund was credit directly into the bank account but failed, then possible reasons for failure could be:
– The account is deactivated
– Operations on the account have been stopped
– The account is other than Saving Account
– The account is owned by an NRI
– Lastly, the account is expired
What steps should you take, if any of such situation arise?
– If you have request physically, then you should contact Assessing Officer.
– If you have applied for a refund online, then follow the steps given below:
1. Firstly, visit the Official Portal of Income Tax Department
2. Login with your credentials
3. Go to “Refund Re-issue” option available under the “My Account” Tab.
4. Then lastly, you have to submit Central Pay Commission (CPC) Communication Reference Number and Your Refund Sequence Number.
4. Refund Status : Paid
If you have received an ECS refund advice slip but the amount is not credit in your account, this mainly happens if the bank uses incorrect information to transfer amount or there is a delay in crediting amount in your account from the bank. Then, follow the steps given below:
– If you have provided correct account information, then you should enquire about the status for NEFT, UTR or NECS sequence number which is provided by TIN website.
– If by mistake, you have provided wrong details, and you should visit the bank and enquire if the amount is a credit to the wrong account.
5. Refund Status: Adjustment against outstanding demand for previous year
Here, your refund from the current year can be adjusted due to outstanding demand of the previous year, either half or full. If you want to verify your amount, then follow the steps given below:
– If you have physically filled, then firstly check details of ECS Advice slip. Then verify your amount with the ward Assessing Officer.
– If you have applied Online, then follow the steps given below:
1. Visit Official Income Tax Portal.
2. Login with your credentials.
3. Select “Submit Grievance” option available under the Helpdesk tab.
4. Now, you have to select CPC as the grievance is related to refund.
6. Refund Status: Processed through NECS/NEFT and failed
Due to some reasons, refund generated through NECS/NEFT could fail. If anything like this happens, then you should verify your account number, account description and MICR/ IFSC code mentioned at the time of filing returns. If NECS/ NEFT return fails, follow steps given below:
– If you have applied physically, then you should visit concerned Assessing Officer, verify all the details and reissue the request.
– If you have applied Online, then follow steps given below:
1. Firstly, visit the official website of Income Tax Portal.
2. Then, click on “My Profile” option available under the “Profile Settings” Tab.
3. Verify all details and make necessary changes.
4. Lastly, issue the refund request.
By following the above procedure, you will be able to apply for tax refund again. We hope, that you got all the important information about Tax Refund Status. If you liked this article, then please share with your family and friends.
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