Income Tax: After filing the Income Tax Return (ITR), you receive a message on your mobile from the Income Tax Department on your e-mail ID whether your Income Tax Refund has been made or not.
ITR Filing: ITRs are being filled for the financial year 2022-23 (Assessment Year 2022-23). The last date for filing ITR (Income Tax Return) from the Income Tax side has been fixed as July 31. If you have not yet filed your ITR, then complete this work in time. If you are late then you may have to pay penalty. You do not have to worry at the last moment if you file ITR before the last date.
Refund comes in one to four weeks
After filing the Income Tax Return (ITR), you receive a message on your mobile from the Income Tax Department on your e-mail ID whether your Income Tax Refund has been made or not. If your refund is made, it is sent to the linked account by the Income Tax Department in one to four weeks. But there is also a rule of income tax under which you do not get money even after refund is made. Let’s know what is that rule?
This is the rule
Without your refund, but the Income Tax Department has not sent any money to your account, then what is the reason for this? According to the information given on the ITR filing website Tax2win, according to the notification issued by the government on January 5, 2012, if your income tax refund is less than Rs 100 as calculated by the Income Tax Department, then it is not sent to your bank account.
When will the money come?
If there is an income tax refund of less than Rs 100, it is added to the next year’s income tax refund. For example, if the amount of your income tax refund becomes Rs 70 in the financial year 2021-22, then it will not be sent to your account. In the next year, if your income tax refund is again Rs 70 in 2022-23, then by adding both the years (70+70) ie Rs 140 will be credited to your account. Apart from this, even if tax liability is made on you, the amount less than Rs 100 gets adjusted in your income tax.
