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Haven't received your Income Tax Refund yet? Here is what to do..

On 8 April, the govt had announced that processing of pending tax refunds of up to five lakh are going to be expedited to supply taxpayers some relief amid the covid-19 lockdown.

Sharing the update on 15 April, the Central Board of Direct taxes (CBDT), in press release, had said that it had issued over 10.2 lakh refunds totaling around 42.5 billion until 14 April. These refunds were over and above the 2.50 crore refunds, worth 1.84 trillion, issued till 31 March.

The CBDT had also said that Rs. 1.75 lakh more refunds were in the process of being issued. These refunds would be credited to the taxpayers' bank accounts with in 5-7 business days from issuance.

Are you wondering why haven't you received your tax refund yet despite having filed your returns within the maturity for assessment year (AY) 2019-20?

  • CHECK STATUS:

If you've got not received your tax refund yet, first check your email to ascertain if there's any communication from the income-tax department, seeking your response. The CBDT had said "in around 1.74 lakh cases, email responses are awaited from taxpayers regarding reconciliation with their outstanding tax demand that a reminder email has been sent asking them to reply within 7 days in order that the refund are often processed accordingly."

Respond to the e-mail , if any, at the earliest.

However, if you've got not received any such email, check the refund status online on www.incometaxindia.gov.in or www.tin-nsdl.com. Click on “Status of Tax Refunds" tab, enter your PAN and therefore the AY that you would like to trace the refund. If the refund has been processed, a message will crop up , giving the mode of payment, a reference number, status and date of refund.

On the opposite hand, if there's a problem due to which refund has not been processed or declined, the message will say so. “Some of the possible reasons for delay in issuance of tax refunds are queries raised or clarifications asked by Centralized Processing Centre (CPC) of tax department while processing the ITR, mismatch in ITR and Form 26AS, assessment proceedings initiated by tax authorities, certain claims made by taxpayer in ITR which the CPC wants jurisdictional tax officer to verify then on,"

Besides that, in many cases tax refunds aren't issued or are rejected thanks to simple mistakes like furnishing incorrect checking account details within the ITR form. therein case, check your checking account details you've got mentioned in your ITR. Taxpayers who filed returns for AY2019-20 were also required to make sure that the checking account chosen for the refund is pre-validated with the e-filing account and linked with their PAN.

  • THE SOLUTION

If you discover you've got made an error in providing your checking account details, you'll update it online by logging into the e-filing portal 'www.incometaxindiaefiling.gov.in' together with your user ID (Permanent Account Number) and password after that click on “My Account" then click on “Refund re-issue request". Follow the instructions and enter the new checking account number or make a correction within the already mentioned bank details and submit the request. Once you update the checking account and place an invitation for reissue of refunds, it'll presumably get credited to your account during a few days.

However, if you fail to seek out any reason behind delay in tax refunds, “you can approach the jurisdictional tax officer for issuance of refund if the ITR is transferred to such officer". you'll find details of jurisdictional tax officer or assessing officer on the tax website.

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Location: New Delhi, Delhi, India

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