The new income tax e-filing portal has made the filing income tax return (ITR) or any other tax-related services easy, seamless and paperless in an efficient manner. A taxpayer is always advised not to delay in filing his tax return, this is because the sooner you file, the sooner you are eligible to receive your refund amount. For Assessment Year (AY) 2021-22, the due date for filing ITR was fixed as December 31, 2021.
Around 6.25 crore taxpayers have filed their ITR using the e-filing portal, while over 4.5 crore returns have already been processed and refunds issued. However, you may not have received your tax refund yet.
One of the common reasons why the new portal may have encountered a technical issue and the process was delayed, however, the issue has been resolved, and refund processing has been expedited. However, technical glitches or errors are some of the common factors for delay in income tax refund. In particular, there may be other reasons why you still haven’t received your tax refund.
additional documents:
Your income tax return may get delayed as the income tax department requires additional documents to process your refund request.
To resolve this issue, a taxpayer can approach the Assessing Office through telephone or post. Submit the required documents and get an acknowledgment from the official for the same.
Outstanding tax arrears:
Tax refund request may be rejected due to tax payer of Income Tax Department. A notice will be sent by the department to the taxpayer informing him about his outstanding income tax amount. If such a case comes to the fore then the taxpayer should double check all the documents and recalculate the tax liability and refund receivable.
If the details that you have filled in the Income Tax Return are correct then you can file for correction in support of your claim. However, if your details are incorrect, pay the outstanding tax amount within the specified period.
Income Tax Return (ITR) Not Verified:
Another reason why your refund is delayed or canceled is that your ITR is not verified. Need to know that without verification within the stipulated time, an ITR is considered invalid
If you do not do the verification on time, your return is deemed to have not been filed and it will attract all the consequences of not filing ITR under the Income Tax Act, 1961.
However, you can request an apology for the delay in verification by giving a valid reason. Only after submitting such a request will you be able to e-verify your return. However, the refund will be considered valid only if the condonation request has been approved by the competent Income Tax Authority.
You can verify your ITR using electronic mode or by sending a signed copy of ITR-V to the Centralized Processing Center (CPC) in Bengaluru. You must verify your return within 120 days from the date of filing the return in order to proceed with your process and issue your tax refund.
You can also do e-verification using Aadhaar OTP. You need to update your mobile number with Aadhaar in order to e-verify your return using Aadhaar OTP.
Apart from this, you can also do e-verification using bank account or demat account. You should have an active Demat Account/Bank Account, which should be pre-verified and EVC-enabled on the e-filing portal to e-verify your return using your Demat Account/Bank Account.
You will receive a message on your transaction ID or email address to let you know that your ITR verification has been successful.
Bank Account Verification:
It needs to be noted that only one pre-validated bank account can be nominated for receiving income tax refund. In addition, a pre-validated bank account can also be used by an individual taxpayer to enable EVC (Electronic Verification Code) for e-verification purposes. E-Verification can be used for Income Tax Returns and other Forms, E-Proceedings, Re-issuance of Refunds, Reset Password and Secure Login to E-Filing Account.
If your bank account details have changed it may delay the process of your refund. The account can be validated if the mobile number and email address in the details of these accounts are the same as the primary details in the Income Tax Portal.
In case the mobile number or email address has been changed in any bank account, you will get a ! Warning symbol next to your mismatched contact details (mobile number/email id) in your added bank accounts section. You will need to update your contact details on the e-filing portal to match your details registered with the bank.
Here is how you can check your ITR refund status:
Step 1: Log in to the e-filing website with a User ID, Password, Date of Birth/Date of Incorporation and Captcha.
Step 2: Go to My Account and click on “Refund/Demand Status”.
Step 3: Details of assessment year, status, reason (for refund failure if any), and mode of payment are displayed.
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