Income Tax Refund: Income Tax Refund: Have you filed an Income Tax Return (ITR) on time but have not received a refund yet, then you are not alone. Many taxpayers face delays in getting income tax refunds. Tell us why this happens and what to do if your rebate is stuck.
Why is there a delay in the income tax refund
It is normal to take some time to get a refund after filing an income tax return. But if this delay is becoming too much, then there may be some reasons behind it:
The complexity of ITR form: Simple forms like ITR-1 and ITR-4 get processed quickly, while ITR-2 and ITR-3 may take time due to more information.
Demand for more refunds: If you have demanded more refunds, then the Income Tax Department can do a thorough investigation of your information.
Wrong information: Giving wrong information in the return can delay the refund, even a notice can come.
Incorrect bank account details: If you have entered the bank account number, IFSC code, microcode, or name of the account holder incorrectly, then the refund will not come.
No verification of bank account: If the bank account is not verified on the e-filing portal, the refund may be delayed.
Not complete KYC: If your KYC is not complete, then the refund will not be received.
Incorrect filling of account type: If you have entered the account type incorrectly, then there may be a problem with the refund.
How to check the refund status
You can check your refund status by opening the concern Income Tax e-filing portal. If the refund is getting delayed, then you can contact the Income Tax Department.
When will the refund come
Usually, the refund comes within 2-3 weeks of ITR processing, but in some cases, there may be a delay. If the refund does not come even after so many days, then you can check the refund status by visiting the Income Tax Department website.
What to do if a refund is not received
First of all, be patient.
Go to the official Income Tax Department website and know the refund status.
If there is any problem, contact the Income Tax Department.
Contact your bank as well, it is possible that the refund has arrived but has not been deposited in your account.
Tips to get a refund
Fill in all the information correctly.
Make sure to verify the bank account.
Keep KYC complete.
Check the refund status regularly.