Income Tax Return: The number of income tax payers in the country is increasing continuously. People also get reports after filing tax returns.
ITR Refund Status Online: After filing ITR, it is time for refund. In such a situation, how can you check that till when your refund will be credited to your account. Information about it is given here.
How To Check ITR Refund Status: Filing Income Tax Return is an essential part of one’s financial responsibility. After filing your ITR, one of the most anticipated moments is to receive your Income Tax Return refund (ITR Refund), if applicable.
Come, let us know here what is the deadline for ITR refund and how to check the refund status?
ITR refund deadline
ITR refund processing usually takes some time after filing of income tax return, and the actual tenure may vary depending on various factors. The Income Tax Department endeavors to process refunds promptly, but it may take several weeks to months for the refund amount to be credited to your bank account.
Eligibility for ITR Refund
You become eligible for ITR refund if you have paid tax in excess of your actual tax liability or if your Tax Deducted at Source (TDS) has been deducted in excess. Also, if you have claimed refundable tax credit, such as TDS on interest income or advance tax, and it exceeds your tax liability, you are eligible for a refund.
Income tax return
Many people are also waiting for income tax refund after filing income tax return. On the other hand, if it has been a long time since you filed income tax and have not yet received the ITR refund money, then check again whether you have missed any work while filing ITR.
Verification
Actually, if you have filed income tax return but have missed to get ITR verified then you may face problems because without it people may face difficulties in getting income tax refund. After filing income tax return, it is very important to get your ITR verified. When you get your ITR verified, only after that you will be able to get income tax refund.
Bank account
Apart from this, one or the other bank account must be linked to get the income tax refund. Even if the bank account linked through you in the ITR profile is wrong, there may be difficulties in getting the income tax refund. In such a situation, also check whether the bank account entered in the ITR profile is correct or not. Check both these things again and rectify them. After this, your ITR refund will be expected soon.
