Want your income tax refund faster? Do this after filing your return

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Filing your income tax return (ITR) is only the first step towards receiving your tax refund. Most taxpayers are left confused as to why their refunds were not received despite filing on time. It is important to note that the speed at which you receive your tax refund depends on some very important steps you take after filing your return. This is how to make the processing faster and get your refund without delay.

Check your ITR immediately

The Income Tax Department only processes your tax return once you have verified it, and if you fail to verify it within 30 days of filing, your return will become invalid. To receive your refund on time, you need to e-verify your tax return at the earliest using Aadhaar OTP, net banking you’re your Demat account. Aadhaar-based OTP is the fastest and most preferred way. The sooner you verify, the sooner your return enters the processing stage.

Ensure your bank account is pre-validated and in sync with PAN

Your tax refund will only be credited to your bank account if it is pre-validated on the income tax e-filing portal and linked with your PAN. If your account is not pre-validated or the PAN information is mismatched, your refund will fail. To rectify this, log on to the e-filing portal, go to "Profile" > "My Bank Account," and check that your choice refund account appears as "Validated" and "Primary."

Respond to any notice received from the IT department

At times, the department may seek clarifications, pose a query, or send a notice under Section 143(1) in case of inconsistency or mismatch in your return. Inability to respond to such notice can delay your refund. Open your e-mail account and e-filing portal from time to time for notifications or messages, and reply with the required information or documents immediately.

Prevent mismatches and errors during filing

Careful reporting of income, deductions, and TDS is necessary. Discrepancies between Form 26AS, AIS (Annual Information Statement), and your tax return can cause processing delays or lower refunds. Cross-check your return with these documents before filing to ensure all figures are correct. If there is any discrepancy, rectify it before filing.

Select electronic mode and file early

In order to ensure prompt processing, file your income tax return early and choose for electronic refund through NEFT. Paper return or delays in filings in most cases result in refund delays. Likewise, opting for the right ITR form and filing complete and accurate details minimizes the likelihood of scrutiny or reprocessing.

Receiving your tax refund on time depends not only on when you file your ITR, but also on what you do subsequently. Verifying your return, making sure your bank details are updated, and responding to any questions raised by the IT department swiftly are crucial to receiving your refund on time. With some attention and timely follow-up, your refund could reach your bank account within weeks.