ITR Refund Delay? Why is the refund stuck till now, know when you will get the money

by

Income Tax Refund Process Time: If your ITR refund has not come yet, do not worry. It has a time frame and if you have filed the return on time, you will also get 0.5% interest every month from April 1st.

Income Tax Refund Delay Reasons: The Income Tax Return (ITR) filing deadline of 16th September has passed long ago. Most people have received refunds, but many taxpayers are still waiting. If your refund has not yet come to the bank, there could be many reasons for this. But the matter of relief is that if you had filed ITR before September 16, then the Income Tax Department will also give you 0.5% interest every month from April 1 and if you had filed late, then the interest will be charged from your filing date. Let us know why the refund has stopped and how to track it…

3 necessary conditions for ITR refund to be processed

Income tax refund will be processed only when three basic conditions are fulfilled. You must have a valid user ID and password. You must have a PAN-Aadhaar link. You have claimed refund in ITR. Any one of these three omissions can prevent a refund.

How long does it take for income tax refund to arrive?

According to the ITR portal, it usually takes 4-5 weeks for the refund to be credited. If it has been more than this, then you should now check yourself whether the IT department has sent you any notification, mail or scrutiny message.

How to check ITR refund status?

  • Go to e-Filing portal.
  • Enter your user ID and password.
  • Go to the e-file tab and click on View Filed Returns under Income Tax Returns.
  • Select the assessment year for which refund is required.
  • Here you can see both the refund status and the complete lifecycle.
  • This can reveal where your refund is stuck.

5 biggest reasons for refund delay

  1. Your ITR is not matching with the TDS appearing in Form 26AS or AIS.
  2. If you wrongly claim exemptions like 80C, 80D, your refund may be withheld.
  3. Salaried people often make mistakes in HRA, LTA or other allowances.
  4. If for some reason your income is mismatched, the department can consider it a defective return and stop it.
  5. If last year the department had found any doubt, this time your return goes under more scrutiny.

Read this also- How to get ITR refund quickly? Know the step-by-step process here

Read this also- How to make 5 lakhs in 25k salary? No one will tell you these tricks!

Leave a Comment