Around 45 days have elapsed since the filing deadline for income tax returns, and the income tax administration has already started disbursing qualified taxpayers' refunds.
The income tax (I-T) department reports that as of September 8, 2022, refunds of Rs. 1.19 lakh crore had been given out, which is 65.29 per cent higher than had been given out during the same time the year before.
Reasons for the ITR refund's delay:
However, some people might not have received their income tax refunds yet. There are several possible reasons why this may be. Numerous things might be the reason for this, but you should first check to see if the department has accepted your income tax return. You can only get your refund when the tax office has processed and confirmed their ITR. only in the event that the income tax division decides you are qualified for a refund.
Another reason you could not have received your income tax return is that your bank account was not pre-verified. By connecting to the e-filing portal and confirming that your bank account is connected to your PAN, you can verify whether there was a mistake in the pre-validation of your bank account.
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How to check the status of your income tax refund?
Step 1: Taxpayers can check the status of their income tax refunds online by visiting the income tax e-filing website, incometaxindiaefiling.gov.in. To obtain OTPs, individuals would also require their PAN and Aadhaar information in addition to the registered cellphone number.
Step 2: After accessing the www.incometax.gov.in website, the taxpayer must log into their account by providing their PAN, OTP, and Captcha information.
Step 3: After logging in, the taxpayer must choose the "e-file" option. Large fashion brands to tech behemoths: Top CEOs of Indian descent are succeeding in business.
Step 4: Next, choose the Income Tax Returns tab and then the View Filed Returns option.
Step 5: From there, the taxpayer can check the status of the most recent IT that was submitted.
Step 6: From the View Details menu, click on the option to view the status of your income tax
If you haven't received your income tax refund, you are not alone. Many people are still waiting for the income tax refund despite filing their income tax return on time. The Income Tax Department may take a long time before they process your Form 15G or 15H. It may take up to a few months before they process your income tax return.