ITR Refund: It is important to check these possibilities to determine the reason for delay in ITR refund and take appropriate action. Keep an eye on the e-mails and letters coming from the Income Tax Department.
The last date for filing returns (ITR) for salaried income taxpayers was July 31. Returns of many people have been processed and they have also received refunds. There can be many possible reasons for the refund amount not coming to the account of those who have not received the refund yet.
It is important to check these possibilities to determine the reason for delay in ITR refund and take appropriate action. Keep an eye on the e-mails and letters coming from the Income Tax Department. If any additional information is sought through them, provide it immediately.
ITR is still under verification process
If ITR is still under processing then you may get the refund late. It usually takes a few days to process ITR. If it has been a long time since you filed your ITR and you have not received your refund yet, you should check the status of your refund on the official website.
Some cases of ITR filing go for scrutiny through the Income Tax Department to ensure accuracy and compliance. If your return is under scrutiny process, it will take time for the ITR refund to be credited to the account.
ITR Refund Eligibility
You also need to check whether you are eligible to get a refund or not. You will receive an income tax return refund only if the Income Tax Department processes your income tax return and makes you eligible for it. Once the Income Tax Department confirms your eligibility, the refund is usually credited within four weeks.
wrong bank account
If you have given wrong bank details while filing the return then the tax refund will not be credited to your account. It is important to note that the name registered in your bank account should match the details of your PAN card. The refund will be credited to the bank account that you have mentioned in your ITR.
