Income tax news: After paying tax, it is very important to fill the refund form because without this you do not get the benefit of tax. Although the refund money comes between 30 to 45 days, sometimes due to some reason this money gets delayed. If you have not yet received the refund money for many years, then let us tell you that this money will soon come to your account.
If after paying income tax, you have filled your refund form and now you are waiting to get the refund for many years, then there is a good news for you. Now you will not have to wait any longer for the outstanding refund. The government has given an important update in this regard, according to which the stuck money is going to come to your account soon.
The money will arrive by this day.Â
CBDT has issued an important order in this regard this month. This order, dated March 1, 2024, is for those taxpayers who are waiting for the pending tax refund money for the financial year 2020-21 i.e. assessment year 2021-22. It has been said in the order that the taxpayers will not have to wait any longer. They can get the refund money till 30 April 2024.
It will not take much time.Â
The intimation email being sent by the Income Tax Department will contain all the information related to your outstanding income tax refund. Generally the Income Tax Department no longer takes much time in issuing refunds.
When a taxpayer files his income tax return, he gets the information about processing of ITR within a few days. After the ITR is processed, the taxpayer is told how much refund he is going to get and the refund money is transferred to the taxpayer’s account within a few days.
Due to this reason it was stuck,Â
although sometimes the refund of some taxpayers also gets stuck. There are many reasons for refund getting stuck. Like there is some mistake in the information given by the taxpayer. If you have made a wrong tax refund claim, then in such a situation the refund is not available.
Refunds also get stuck if there is any discrepancy in your personal details or banking details. Regarding the cases in which tax refund is due, the department says that the concerned taxpayers had filed the returns on time, but due to some technical problems, their returns could not be processed.
