There can be many reasons for not receiving income tax refund. The first and foremost reason is that your information does not match. The information you have given while filing the return does not match with the 26AS or AIS form. Which may include differences in earnings or income information. Let us know about it in detail.
Have you been waiting for income tax refund yet? Have you not received your refund even after your return has been verified? If all such questions are still in front of you, then you need to re-assess why your refund has not come even after doing everything right? According to Income Tax rules, the time to process the return for the financial year 2019-20 is 82 days. Whereas in the financial year 2022-23, it took 16 days to complete the same process. Now for the assessment year 2023-24 this time has been reduced to 10. Let us also tell you what you can do if your return has been verified and the refund has not yet come…
Check notification once
After filing the tax return, it is verified in several phases and after that the refund is processed. If your work has been done then you need to go to the income tax filing portal and check the notification of processing completion.
Check status here
Did you file your income tax return by 31st July? If yes then there should not be any kind of difficulty. Even after that, if your return has not been verified and refund has not been received, then there could be many reasons. For this, you can get information about this in the notification of processing completion. After checking here you can make improvements.
These can also be the reasons
However, there can be many reasons for not receiving income tax refund. The first and foremost reason is that your information does not match. The information you have given while filing the return does not match with the 26AS or AIS form. Which may include differences in earnings or income information. After that the department asks you the reason for this. For this you are also sent a mail or letter. So you need to check your mail from time to time.
Correct answer to notice
If you answer the questions asked by the department in a correct and logical manner. Then your refund will be processed. If you do not do this and the department feels that you have given wrong income information, then it will ask you to pay the outstanding tax. Your refund will not be processed until you make the payment. For this you can also take help of a chartered accountant.
