Income Tax Refund: If you have filed income tax return on time then you are eligible to get refund.
If your company has deducted excess TDS or the bank has deducted excess TDS on interest received on your deposit amount, then you can claim for refund.
If you have filed income tax return on time then you are eligible for refund. If your company has deducted excess TDS or the bank has deducted excess TDS on interest received on your deposit amount, then you can claim for refund.
Jitendra Solanki, registered tax and investment expert with SEBI, says that there is no such ITR form, which one can fill and claim income tax refund. A taxpayer has to file his ITR within the due date and only after that he can get full interest on ITR refund.
Thereafter, the Income Tax Department will scrutinize the returns filed for the assessment year. If it is found in the investigation that your TDS has been deducted more or you have deposited Higher Advance Tax, then the refund will come automatically in your account.
You can check ITR refund online like this
- First of all, login to the new income tax e-filing portal incometax.gov.in/iec/foportal.
- After this you have to enter your ID, Password and Captcha.
- Select -View Returns/Forms.
- After this, go to the drop down menu and select the Income Tax Return option.
- Fill in the correct assessment year.
- -Click on Submit Option
- – After that go to drop down menu and select Acknowledgment Number.
- Here you will get information about Refund Status.
Check on NSDL website
- You can check your refund status online at www.incometaxindia.gov.in or www.tin nsdl.com.
- Log on to any of these websites and click on the Status of Tax Refunds tab.
- Enter your PAN number and assessment year for the year for which the refund is pending.
- If the department has processed the refund, you will get a message mentioning the mode of payment, reference number, status and date of refund.
- If the refund has not been processed or has not been given, then the same message will come.
What is tax refund ?
Advance is deducted on the basis of income tax income of the taxpayer on the basis of his estimated investment document in a financial year. But when he submits the final papers by the end of the financial year,
then if on calculation he finds that his tax has been deducted more and he has to withdraw the money from the Income Tax Department, then he can file ITR for the refund. applies.
