Didn’t get refund despite filing income tax return on time? Here’s why

The deadline for submitting income tax returns passed around 45 days ago, and the income tax administration has already begun giving eligible people their refunds. According to the income tax (I-T) department, as till September 8, 2022, income tax refunds totaling Rs. 1.19 lakh crore have been issued, which is 65.29 percent more than refunds issued during the same period in the previous year.

Gross Direct Tax collections for FY 2022-23 upto 8th Sept, 2022 are at Rs. 6.48 lakh crore, higher by 35.46% over gross collections for corresponding period of preceding yr.

Net collections at Rs. 5.29 lakh crore are 30.17% higher than net collections for same period last yr. pic.twitter.com/XI4SYKXkvU
— Income Tax India (@IncomeTaxIndia) September 9, 2022

Reasons behind the delay of ITR refund

There might be some individuals, though, who haven’t yet gotten their income tax refunds. There are a number of potential causes for this. This could be caused by a number of factors, but you should first determine whether the department has approved your income tax refund. Once their ITR has been processed and the tax agency has verified it, you can only collect the refund. Only if the income tax department agrees that you are entitled to a refund.

Your bank account not being pre-verified could be another factor for why you haven’t gotten your income tax return. By connecting into the e-filing portal and confirming that your bank account is connected to your PAN, you can verify whether there was a mistake in the pre-validation of your bank account.

READ | Shell set to install over 10,000 electric vehicle charging points across India by 2030

In addition, the refund may be postponed if you still owe money from a previous fiscal year. In this case, the income tax agency will adjust your refund in accordance with that requirement.

Additionally, the income tax authority does not credit the payment to your bank account if it is less than Rs 100. In some situations, the sum is balanced by upcoming income tax returns.

Step 1: Through the income tax e-filing website, incometaxindiaefiling.gov.in, taxpayers can check the status of their income tax refunds online. In addition to the registered mobile number, they would also need their PAN and Aadhaar information to receive OTPs.

Step 2: The taxpayer must log into the account after opening the www.incometax.gov.in site and entering the Captcha, OTP, and PAN information.

Step 3: The taxpayer must select the “e-file” option after logging in.

READ | From tech giants to big fashion brands: Top Indian-origin CEOs making name in biz world

Step 4: Next, select the income tax returns tab and then select the option to view filed returns.

Step 5: From there, the taxpayer can check about the status of the most recent ITR that was submitted.

Step 6: From the View Details menu, click on the option to view the status of your income tax refund.