New Delhi: ITR filing 2024 deadline for FY24 (Assessment Year 2024-25) is July 31, 2024. If yopu have filed the ITR well ahead of the deadline, an verified it, then it is now time for you to understand how to check your income tax refund status online.
E-Verification Process
The Income Tax (I-T) department offers multiple methods for e-verification: Aadhaar-based
Via Net Banking
After e-verification, the department will proceed with evaluating your return for any discrepancies or outstanding taxes. You will receive a notification confirming the processing status and details of any potential refunds if everything is correct.
How to check income tax refund status
If your notice confirms a tax refund, the department will initiate the transfer to your bank account. Typically, this process takes 4-5 weeks after e-verification.
You can monitor the refund status on the department’s website at www.incometax.gov.in. Two pre-requisites are crucial for a successful Income Tax refund deposit:
1. Pre-validated Bank Account:
Refunds are transferred only to bank accounts that are pre-validated. Ensure that your bank account details (such as account number and IFSC code) linked to your PAN are verified on the Income Tax e-filing portal before initiating the refund process.
2. Accurate Bank Account Information:
When filing your ITR, ensure you provide correct bank account details where you wish to receive the refund. Errors or discrepancies compared to the pre-validated account can lead to delays or failed deposits.
What if you don’t receive your refund?
If you do not receive your refund within the expected timeframe (typically 4-5 weeks after e-verification), you can take the following steps:
Review your ITR for errors:
Check if there are any errors or miscalculations in your filed ITR which may have caused delays. You can access notifications regarding this through the e-filing portal.
Monitor email Notifications:
The department may send emails updating you on your refund status, including any processing delays or requests for additional information.
Use the Online Refund Status Tracker:
The Income Tax Department’s website offers a tool to track your refund status. By entering your PAN and assessment year details, you can monitor progress and identify reasons for any delays.
Follow these steps for further escalation
If these steps do not resolve the issue, you can escalate the matter by:
Contacting the CPC Helpline: The Central Processing Centre (CPC) manages tax return processing and provides helplines for inquiries related to refund statuses.
Submitting a Grievance on the E-Filing Portal: Taxpayers can use the portal to lodge grievances regarding their tax returns or refunds, providing a formal channel to escalate and resolve issues.
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