ITR Refund: Money not yet received in account? Check your status like this in just 2 minutes, have you made this mistake?

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income tax refund

ITR Refund: The season for filing Income Tax Returns (ITR) is over, but for many taxpayers the real wait is still on. This is the wait for that ‘refund’, which is that part of your hard-earned money which you had paid to the government in the form of excess tax. If you have also filed your return on time and have also completed the e-verification process, but the message “Your Account has been Credited” has not yet come on your mobile, then obviously many questions must be arising in your mind. Is the refund stuck? Was there a mistake in the form?

You don’t need to panic. refund Delay may be part of a normal process, but sitting idly by will not help. Now you can find out where your money is stuck through your smartphone or laptop sitting at home.

How long does it take for a refund?

When you pay more tax during the financial year than your actual tax liability, be it in the form of TDS, advance tax or self-assessment tax, the Income Tax Department returns the excess money to you after calculation.

Usually, once you e-verify your return, the refund is processed and credited directly to your bank account within 4 to 5 weeks. The process of the department has now become much faster and transparent than before. But, if this time limit has passed and the money has not arrived, then you should check the status immediately.

first way

The most reliable and comprehensive way to check refund status is the e-filing portal of the Income Tax Department. This method not only tells you the status, but if there is any problem, it also suggests its solution.

  1. First of all go to the official e-filing portal.
  2. Log in using your PAN number, password and captcha code.
  3. When the dashboard opens, click on ‘e-File’ menu and select ‘Income Tax Returns’.
  4. After this go to the option of ‘View Filed Returns’.
  5. There you will see all the returns filed by you. Select the current assessment year and click on ‘View Details’.

Here you will get the complete horoscope, whether the refund has been processed or not, how much amount is to be sent, and if it has been sent then on what date. If refund has been issued, the method of payment will also be clearly mentioned here.

another way

If you want to avoid the lengthy process of logging in, the NSDL-TIN website is a quick option. By going to the refund tracking page, you just have to enter your PAN number and assessment year. As soon as you click on ‘Proceed’ you will know whether the refund has been sent to the banker or not.

But, the most important question is why the delay? Often everything is fine from the department’s side, but a small mistake by the taxpayer stops the money.

  1. Bank account not linked: If your bank account is not pre-validated, then money will not come.
  2. PAN-Aadhaar Link: If PAN and Aadhaar are not linked, the refund will not be processed.
  3. Change in IFSC code: If your IFSC code has changed due to bank merger and you have not updated it, then the refund may fail.
  4. Difference in name: Even a slight difference in the spelling of name in bank account and PAN card can prevent refund.

What to do if money gets stuck?

If after checking the status you find that the refund has failed due to incorrect bank information, do not despair. The department gives you a chance to improve. Go to the ‘Services’ tab on the e-filing portal and select the option of ‘Refund Re-issue’. Update the correct bank details there and submit the request.

Also, pay attention to the technical words of the status. If the status is ‘Defective’, it means there is a mistake in the form which needs to be corrected. If ‘Processed’ is visible, then the money will be with you soon.

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