The last date for filing income tax returns for the financial year 2023-24 – July 31 – is drawing closer.
If you are among the diligent tax-payers who have already completed the process, including verification of returns post submission, you are probably awaiting refund of excess taxes paid, if any, during the financial year.
Check refund status
You can check the refund status through the income tax department’s official e-filing website (incometax.gov.in). Do ensure that your PAN and Aadhaar are linked before you start this process.
Step 1: Visit the e-filing portal and log in
Step 2: Under the ‘e-file’ tab, go to ‘View filed returns’
Step 3: Details of your returns filed will be displayed. Click on ‘View details’ for the history and current status.
Step 3: If the refund has been issued, the details will be updated, along with mode of payment, refund amount and date of clearance.
Also read: ITR filing for FY 2023-24: A step-by-step guide to paying income tax using your credit card
Brace up for partial refunds, failures
However, there could be other scenarios too. For example, your tax refund could be partially adjusted against taxes due, if any. In such cases, your refund amount and clearance date will be mentioned, but the status will read as: ‘Processed and partially refund adjusted’.
Then, there is a possibility that the entire refund amount that you had claimed could be adjusted against tax dues. In such cases, this update will be displayed: ‘(return) Process and full amount adjusted’.
Finally, your refund claim could be rejected or there could be a failure in crediting the refund to your bank account. In such cases, the date and reasons for the failure will be displayed. For example, if your PAN is not operative as it is not linked to Aadhaar, the website will display an alert, asking you to complete the process after paying the penal fee under section 234/H (Rs 1,000).
Also read: Your one-stop guide to filing income tax returns
Identify the cause of failure
This apart, there could be other reasons for refund failure. According to the income tax (I-T) department, your refund processing may not go through if your bank is not pre-validated. This process is mandatory and you must complete it if you have not done so already.
Similarly, refund request could be rejected if the name mentioned in the bank account does not match with your PAN details. If you have erroneously mentioned an invalid IFSC code for your bank account or have already closed the bank account selected for refund, it will not be processed, leading to a delay.
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