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ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
January, 18th 2024

If you submitted your ITR before the deadline but did not receive a refund, there could be a variety of reasons.

  
The deadline for filing a late income tax return (ITR) for fiscal year 2022–23 was December 31, 2023. If you submitted your ITR before the deadline but did not receive a refund, there could be a variety of reasons. Find out here.Income Tax Return Filing: A to Z of Tax: Simplifying everything about e-Filing for new taxpayers
 

Check if your ITR has been processed.

First, determine whether the Income Tax Department has processed your ITR. You will receive a refund only after your income tax return has been processed. Check the status of your ITR on the Income Tax Department's e-filing website.

Are you eligible to receive an ITR refund?

After completing your income tax return, the Income Tax Department may determine that you are eligible for a refund on your ITR. Only after they confirm it will they receive an ITR reimbursement. If your income tax return has been finalized, the refund is normally credited within four to five weeks, according to the Income Tax Department.Income Tax Return Filing: What is 'Discard ITR'? Key things to know about feature - Check details
 
 

This step is a must

To get an ITR return, your bank account must be pre-validated. If your bank account is not pre-validated, you will not receive a refund. Furthermore, the name on the bank account does not match the PAN card details. Furthermore, the Income Tax Department states that your bank account's IFSC code must be legitimate.
 

E-verification of ITR within 30 days is a necessity.

To receive a refund, you must e-verify your income tax return. The latest requirements require you to e-verify your ITR within 30 days after filing it. So, if you have not e-verified your return, you will be ineligible for an ITR refund.Income Tax Return Filing: NRIs keep these things in mind before making final payment
 
 

Is an outstanding demand pending?

Your income tax return may also be delayed if you have outstanding requests from the previous fiscal year. If there is any outstanding demand, your income tax refund will be adjusted accordingly. The same would be communicated to you by an intimation notice issued under Section 143(1). Thus, once your ITR has been processed, you must ensure that you have received an intimation notice. When you receive it, double-check to see that your income tax refund is still pending.
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