Income tax refunds have been issued to more than 1.57 crore taxpayers worth Rs 1.73 lakh crore in the ongoing fiscal till January 11 by the income tax department. Personal income tax refunds are worth Rs 57,139 crore and corporate tax refunds are worth Rs 1.15 lakh crore.
Income tax department tweeted, "CBDT (Central Board of Direct Taxes) issues refunds of over Rs 1,73,139 crore to more than 1.57 crore taxpayers between 1 April 2020 to 11 January 2021. Income tax refunds of Rs 57,139 crore have been issued in 1,54,55,577 cases & corporate tax refunds of Rs 1,15,999 crore have been issued in 2,10,150 cases."
Reasons for income tax refunds delay
From the day of completion of processing of ITR by the Centralized Processing Centre, tax refunds are received within 20-45 days normally. In case there is a mismatch between the tax return filed and the details available with the tax department a refund can be delayed. However, the reason for delay is also the bank account details mentioned are incorrect.
You can check income tax refund status on the National Securities Depository Ltd (NSDL) website, as well as on the Income-tax department’s e-filing portal.
Checking ITR status on the NSDL website:
- Visit the NSDL website to track refunds.
- Fill in your details like PAN, Aadhaar and assessment year (AY).
- After submitting the details, click on 'Proceed'.
- Your income tax refund status will be displayed on your computer screen.
Check ITR status on the e-filing portal:
- Log in to the e-filing portal of the income tax department.
- Now select at view returns or forms,
- Go to the 'My Account' tab and select 'Income Tax Returns' and click on submit.
- Now you would need to click on the acknowledgement number.
- Your income tax refund status will be displayed on your computer screen.If the refund has already been processed by the department, you will get a message.