News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Top Headlines »
 M/s Nalini Jewellers, 16/2646-49, Bank Street, Karol Bagh, New Delhi. Vs. The Assistant Commissioner of Income Tax, Circle-33(1), New Delhi.
  Prohibition of Benami Property Transactions (1st Amendment), Rules, 2019
 Income Tax Return filing: How to disclose foreign income, assets in ITR
 Missed Income Tax Deadline? Learn How To Prepare And Submit A Belated Return
 Not received income tax refund yet? Here is how much interest you will get
 Notification No. 100/2019 Central Board of Direct Taxes
 How to prepare for the new GST return filing systema
 Notification No. 99/2019 Central Board of Direct Taxes
  Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)
 Follow these Income Tax investment options to become rich and enjoy wealthy life
 How to file a revised ITR and avoid rejection or penalties

How To Check Status Of Your Income Tax Refund
October, 09th 2019

The refund status is reflected in Form 26AS, which is the tax credit statement summarising the taxes paid by an individual to the taxman.

An online facility provided by the Income Tax Department enables taxpayers to claim any excess payment of tax. It also enables the income tax assessees to check the status of a refund online, through the e-governance website of National Securities Depository Limited (NSDL) - tin.tin.nsdl.com. The taxman refunds the excess tax through an electronic transfer or a cheque, depending on the method used by the assessee while filing the income tax return (ITR), according to NSDL. In case of electronic transfer, the eligible amount is credited directly to the bank account of the taxpayer through a wire transfer. The taxpayer can also check the status of the refund from the NSDL website 10 days after the taxman forwards it to the bank, according to NSDL.

Here are 10 things to know about ITR refund status:

1. A taxpayer is eligible to receive an income tax refund in case excess tax is paid either through tax deduction on payments made to him/her or direct tax payments as advance or self assessment tax.

2. Individuals can check income tax status through the website tin.tin.nsdl.com by entering the Permanent Account Number (PAN) and selecting the relevant assessment year.

3. One can track the refund status by logging on to the income tax e-filing website - incometaxindiaefiling.gov.in - by clicking on the "Refund/Demand Status" option under the "My Account" tab. The refund status is also reflected in Form 26AS, which is the tax credit statement summarising the taxes paid by an individual to the Income Tax Department.

4. If the refund status shows as "expired", it means that the refund cheque received by the taxpayer was not deposited in the bank within the stipulated time. The validity of a cheque is 90 days. In such a scenario, the taxpayer is required to request a refund re-issue, according to NSDL.

5. In case the return was filed electronically, a reissue request may be raised online by logging into the e-filing portal.

6. In other cases, for a re-initiation of refund, the taxpayer is required to contact the Assessing Officer under whose jurisdiction the return was filed.

7. In case the refund status shows as "ECS" (electronic clearing service), the taxpayer is required to request a reissue by providing the correct bank details.

8. If the refund status mentions that the refund was processed though NECS/NEFT which failed, the taxpayer is required to verify the account number, account description and the MICR/IFSC code provided at the time of filing of return. The taxpayer may contact the Assessing Officer for modification in account details and re-issuance of refund.

9. If the status shows that the refund was processed through direct credit which failed, it means that the bank had initiated the credit of refund amount but the transfer failed.

10. This happens when the credit of refund fails due to a closed account or when the operations in the account are stopped or restricted. It also happens in case of a non-resident Indian (NRI) account or in case the account holder has deceased.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting