If you have paid more tax than your actual tax liability for a financial year, then you are eligible to get income tax refund after filing the income tax return (ITR) for that year. However, you will only receive this income tax refund after the tax department processes your ITR and confirms the same via an intimation notice.
This intimation notice is sent to you under section 143 (1) of the Income-tax Act, 1961. This year returns have to be filed for FY2020-21 for which the extended last date is currently December 31, 2021.
The income tax refund is processed by State Bank of India (SBI) and is directly credited to the bank account nominated by the taxpayer in his/her ITR at the time of filing it. Thus, it is important to ensure that you have mentioned the correct bank account number and IFS code.
Further, the bank account must be pre-validated on the government's new income tax e-filing portal and PAN must be linked with the bank account.
How to track status of income tax refund You can track the income tax refund on: a) The new income tax portal or b) The NSDL website
On the new income tax portal
The income tax refund status can be tracked on the government's new income tax portal by following the steps below:
1. Visit www.incometax.gov.in and log in to your account by entering PAN as user ID, and your password. 2. After logging in click on 'e-file' option. Under the 'e-file' option, select 'Income tax returns' and then select 'View Filed returns'.
3. Check the latest ITR filed. For FY 2020-21, the latest ITR filed (presuming you have already filed it) will be for AY 2021-22. Select 'View Details' option. Once selected, it will show the status of ITR filed. It will also show you the date of issue of tax refund, the amount refunded and date of clearance for any refund due for this AY.
On the TIN NSDL website
Another way to track income tax refund is by checking its status on the NSDL website. Do keep in mind that on this website, the taxpayer can view the status of the refund 10 days after the refund has been sent by the Assessing Officer to the refund banker.
Follow the steps below to track your income tax refund on the TIN NSDL website: 1. Visit: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html 2. Enter your PAN details
3. Select the relevant assessment year for which you want to check the refund status. For FY 2020-21, the assessment year will be 2021-22. 4. Enter the captcha code and click on submit. Depending on the status of your refund, a message will be displayed on your screen.
What the status message means The message you will receive will depend on the income tax refund status. The message displayed will be one of the following:
Refund is credited: If the income tax refund is successfully credited into your bank account, then this message will be displayed. It will also show you the last four digits of the bank account, reference numbers as well as the date of refund.
In case refund is not credited to your bank account, then you can:
Write a letter and send it to: State Bank of India at Survey No.21 Opposite Hyderabad Central University, Main Gate, Gachibowli, Hyderabad -50001.
Send an email to firstname.lastname@example.org
Call the SBI call centre at 18004259760
Refund Returned: This message will be displayed when your income tax refund is not credited into ac ..
Adjusted against outstanding demand of previous year: The income tax department can adjust your income tax refund for the current year against outstanding demand of the previous assessment year either in-part or full. The tax department has full authority, under section 245, to do this. However, such an action can be done only after giving an intimation in writing to the taxpayer regarding the action proposed to be taken.
Refund re-issue request If your income tax refund is not credited to your bank account due to wrong bank details, then you can raise a refund re-issue request on the new income tax portal. This can be done only if your income tax refund credit has failed.
The request can be raised by selecting 'Refund Reissue' under the 'Services'. An individual will be required to select the ITR for which income tax refund has failed, the bank account, and then verify it to raise ..