Although the last tax filing date (ITR) for the 2021-22 tax year has been extended until December 2021, many employees have already completed the process. Some of these people, who paid more in taxes than their actual obligation, can now wait for their tax refund.
The reimbursement request is made at the time of filing the RTI. Once the income tax department processes your ITR and confirms it, taxpayers eligible for a refund are notified and the amount is credited to their accounts. However, sometimes there is a delay in crediting the account.
If you are among those who have already filed your ITR for fiscal year 2020-21 and are now awaiting reimbursement, here is what may have caused the delay or non-payment.
When are refunds delayed?
If you have not received a refund, it may be due to one of the following reasons. First, your refund might not have been processed yet, but then you can easily track the status.
Second, you may not be entitled to a refund at all. There is always the possibility that a calculation has gone wrong. Or, you may have simply forgotten to include income from an investment or savings that the ministry may have taken into account via form 26AS.
Third, the income tax department may have processed your return and determined a refund, but it may not have reached you yet. This could be because you gave the wrong address (in case of refund request by check) or wrong bank account number (in case of direct credit).
Fourth, the repayment term also depends on the particular case. “Usually it takes a minimum of 15-90 days to get the refund. Refund processing time depends on the complexity of ITR like Foreign Tax Credit (FTC), type of ITR like ITR 1, 2,3,4 etc. ITR 2 and ITR 3 will take longer compared to ITR 1 and 4 ”, states Dasari. He adds that a taxpayer who claims the FTC can undergo manual processing through a tax officer, which can take anywhere from six months to a year.
What you can do
“There are two ways you can track the status of your refund,” says Suneel Dasari, Founder, CEO, EZTax.in, an online tax filing portal. Visit https://tin.tin.nsdl.com/oltas/refund-status-pan.html and enter your Permanent Account Number (PAN), relevant assessment year and captcha. Alternatively, you can log into the income tax portal and check the status from there. Make sure your bank account is linked to your PAN for an easy process of your refund.
If your refund has been returned, you can log into the income tax reporting website and request a refund reissue. If your bank account or address was wrong, you will need to update it.
If you have any questions regarding your IT refund, you can contact IT Helpdesk toll free at 1800-180-1961 or email reverses @ Incometaxindia.gov.in.