INCOME TAX REFUND HAS NOT COME YET, THEN DO THIS WORK IMMEDIATELY , KNOW THE COMPLETE DETAILS

The last date for filing income tax return was July 31. Till the last date, more than 6.77 crore ITRs had been filed. Those who have not done so till now can file ITR by paying penalty. If you have already filed your Income Tax Return for FY 2023-24 and are waiting for refund, what could be the reason for delay in your ITR refund?

check refund details Go to the e-filing portal. Scroll down the ‘Quick Links’ section until you see ‘Know your refund status’. Click on it. Enter your PAN number, assessment year (2023-24 for the current year) and mobile number.

You will get an OTP. Enter OTP in the space provided Now the status of income tax refund will be shown to you. If there is some issue with your ITR bank statement, it will show: ‘No record found, please check your e-filing processing status by navigating through e-File -> Income Tax Return -> View Filed Return’.

Tax refund comes within 7 to 120 days after filing ITR. However, there may be a delay in your ITR refund as your income tax return may still be processing. There can be other reasons as well.

Refunds can be held due to the following reasons:

Incorrect information: If taxpayers provide incorrect details like bank account number, name or address, the refund may fail to get credited. PAN and bank account details should match.

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Filing mistake: A mistake in filing a tax return, such as incorrect calculations or incomplete information.

Those who have not yet filed income tax return They don’t need to worry. If you have not filed income tax return then you can file income tax return till 31 December 2023 with penalty. If your income is less than 5 lakhs annually then you will have to pay a fine of one thousand rupees while filing ITR. If your income is more than 5 lakhs, then you will have to pay a fine of 5 thousand rupees.

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