It has been around 45 days since the due date of filing income tax returns has gone buy, and the income tax department has already started issuing refunds to eligible taxpayers. The income tax (I-T) department has said income tax refunds of Rs 1.19 lakh crore have e been issued up to September 8, 2022, which are 65.29 per cent higher than refunds issued during the corresponding period in the preceding year.
Refunds of Rs. 1.19 lakh crore have been issued upto 8th September, 2022 which are 65.29% higher than refunds issued during the corresponding period in the preceding year.@nsitharamanoffc@officeofPCM@FinMinIndia@PIB_India
However, there may be people who have not received their income tax refunds yet. This could be happening for several reasons.
Why is My ITR Refund Delayed?
This can be due to many reasons, but first of all, you need to check if your income tax refund has been processed by the department yet. You can only receive the the refund only after their ITR is processed and the tax department confirms the same. You will be eligible for a refund only of the income tax department confirms so.
Another reason that you have not received your income tax refund may be because your bank account is not pre-verified. You can check if there is an error in pre-validating your bank account by logging into the e-filing portal and checking if your bank account is related to your PAN.
Other than this, if you have an outstanding demand pending from the previous financial year, the refund can be delayed. The income tax department will adjust your refund against that demand in this scenario.
Also, if the amount that is to be received is less than Rs 100, the income tax department does not credit it to your bank account. In such cases, the amount is adjusted against future income tax refunds.
How to Check Income Tax Refund Status
Step 1: Assessees can check the income tax refund status online through the income tax e-filing website — incometaxindiaefiling.gov.in. They will need their PAN and Aadhaar details apart from the registered mobile number to receive the OTPs.
Step 2: Once the taxpayer opens the www.incometax.gov.in portal, he or she will have to log in to the account using PAN details, OTP and by entering the Captcha.
Step 3: Once logged in, the taxpayer has to click on the e-file option.
Step 4: From there, one needs to go to the income tax returns tab and click on the View Filed Returns option
Step 5: The taxpayer can check the status of the latest filed ITR from there
Step 6: Click on View Details options from where you will be able to check the status of your income tax refund.