Income Tax Refund: Waiting for income tax refund sometimes becomes difficult. When you have filed your return on time and need money. When you have filed your return correctly and are expecting money back on time, any delay is not good. Here is how to correct the delay and mistakes in income tax refund.
Reasons for Delay in Income Tax Refund
E-Verification Pending: This is the most common reason. Processing cannot begin until your ITR is e-verified. If you have not e-verified your ITR yet, complete it immediately.
Delay in physical verification: If you opt for physical verification by sending ITR-V to the Centralised Processing Centre (CPC) in Bengaluru, delay in the same may also delay the refund.
Processing time: After e-verification, the Income Tax Department usually takes 20-45 days. If the number of returns is high, it may take longer.
Mistakes in ITR: If the Income Tax Department finds any mistakes in your returns, the refund may get delayed. In this case, you may also get a notice to correct it.
Wrong Bank Account: If you have provided wrong bank account details, or the account is closed, there may be problem in crediting the refund.
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Tax arrears: If you have any tax dues, your refund can be adjusted against that dues. There can also be a delay in refund if there is a mismatch between the tax paid and the declared tax.
System Error: Sometimes technical problems in the Income Tax Department system or your bank’s system may also cause delays.
Portal Updates: Any updates or changes in the Income Tax Portal may also cause delay in processing.
Refund Reissue Request: If a refund has been issued but not credited, you may need to request a reissue.
How to check refund status
You can check your refund status by visiting the official website of the Income Tax Department.
What to do if the refund is delayed?
Verify e-Verification: Make sure that your ITR has been e-Verified.
Check for discrepancies: Review any communication from the Income Tax Department carefully and respond as required.
Check bank account details: Verify your bank account details on the e-filing portal.
Check refund status online: Check your refund status regularly.
Contact your Assessing Officer: If the refund is getting delayed considerably, you can contact your local Assessing Officer.
Lodge a complaint: You can also lodge a complaint on the e-filing portal of the Income Tax Department.
