The due date for filing ITRs for the financial year 2023-24 is July 31, 2024. (Representative image)

The due date for submitting ITRs for the monetary yr 2023-24 is July 31, 2024. (Consultant picture)

Tax Refund Standing Examine On-line: Probably the most prevalent causes for refunds not being issued is the requirement for added documentation or data.

ITR Refund Standing Examine On-line: The deadline for submitting an Earnings Tax Return (ITR) penalty-free for the fiscal yr 2023-24 fell on July 31. Usually, ITR refunds are processed inside 7 to 120 days from the submitting date. Nevertheless, because of technological developments, the common processing time for refunds has considerably decreased.

Additionally Learn: What Is Type 16? Right here’s Why Salaried Workers Want It For ITR Submitting

In case your tax refund hasn’t arrived but, make sure that you’ve verified your ITR. Failing to e-verify your ITR renders the submitting incomplete, rendering your ITR invalid.

Earnings Tax Refund Standing: Steps How To Examine

  • Step 1: Go to the Earnings Tax India web site at https://www.incometax.gov.in/iec/foportal/.
  • Step 2: Log in to the portal utilizing your registered USER ID (PAN quantity), the password, and the captcha code.
  • Step 3: Search for ‘View Returns / Varieties’.
  • Step 4: Then click on on the ‘Choose An Possibility’ hyperlink after which on ‘Earnings tax Returns’ hyperlink from the drop-down listing. Enter the evaluation yr and click on on submit.
  • Step 5: To verify the small print, click on on the ITR acknowledgment quantity to view the ITR refund standing.

The ‘refund paid’ standing can be recorded within the ‘Tax Credit score Statements’ in Type 26AS.

If there may be some challenge in your ITR financial institution particulars, it would present: ‘No Data Discovered, verify your e-filing processing standing by navigating by e-File – > Earnings Tax Returns – > View Filed Returns‘.

In some instances, the ITR refunds could be delayed on account of sure causes corresponding to:

  • It’s attainable that taxpayers didn’t embrace the right checking account quantity or different financial institution data when submitting their revenue tax return (ITR).
  • To acquire a profit, taxpayers could have entered inadequate or false data. To appropriate this, prospects ought to submit correct and related data to restrict the potential for rejection or delay within the refund process.
  • The disparity in TDS claimed in 26AS could possibly be on account of incorrect TDS return submitting by the employer or TDS deductor (e.g financial institution), and taxpayers could have to contact them to repair their TDS return.
  • Probably the most prevalent causes for refunds not being issued is the requirement for added documentation or data. Taxpayers could have ignored some particulars when reporting their ITR.

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