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.
Step-by-Step Process to Check ITR Refund Status
If your tax has been deducted in excess after filing the income tax return, then you are entitled to a refund. Here is the information on how to check ITR refund status:
Go to Income Tax e-filing Portal
Visit the official website of Income Tax Department www.incometaxindiaefiling.gov.in.
Login to your account
Enter your User ID (PAN) and Password to access your account. If you have not registered yet, you will need to do so before proceeding.
Go to ‘View Return/Form’
After logging in, click on the option ‘View Return/Form’ to proceed further.
Select the relevant Assessment Year (AY)
Select the assessment year for which you have filed ITR and are claiming refund.
Click on ‘Submit’
Once you have selected the assessment year, click on the ‘Submit’ button.
Check Refund Status
After submission, you will see the ‘Refund/Demand Status’ page. Here, you can check the status of your ITR refund.
Refund status code
While checking refund status, you may come across a few codes that indicate the current status of your refund:
ITR Processing
Your ITR has been processed, and is ready for refund credit.
Refund payment
The refund amount has been deposited in your bank account.
Refund failed
The refund could not be processed successfully; There may be some issues that need attention.
No Demand, No Refund
Your refund request has been rejected as no refund is due.
It is important to note that while waiting for your ITR refund, patience is important. The Income Tax Department is committed to ensuring a smooth process, but several factors can affect the timeline. By following the above steps, you can easily check the status of your refund and stay updated on its progress. Remember to keep your login credentials safe during the entire process.
