CBDT issues Rs 1,50,407 crore refund from Apr 1, 2021 to Jan 3, 2022: How to check income tax refund status

The Central Board of Direct Taxes (CBDT), announced via its Twitter account, that it has issued refunds of over Rs 1,50,407 crore to more than 1.48 crore taxpayers from 1st April,2021 to 3rd January,2022.

“Income tax refunds totaling Rs. 51,194 crore were distributed in 1,46,24,250 cases, while corporate tax refunds totaling Rs. 99,213 crore were distributed in 2,19,913 cases. This includes 1.1 crore refunds for the fiscal year 2021-22, totaling Rs. 21,323.55 crore,” stated the tweet.

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 last date was 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.

In addition, the bank account must be pre-validated on the government’s new income tax e-filing system, and the bank account must be linked to the PAN.

There are two ways on how you can check your refund status.

You can track the income tax refund on:

a) The new income tax portal or

b) The NSDL website

How to track status of income tax refund on the new income tax portal

Step 1: 1. Visit www.incometax.gov.in and log in to your account by entering PAN as user ID, and your password.

Step 2: 2. Select the ‘e-file’ option after logging in.

Step 3: Select ‘Income tax returns’ under the ‘e-file’ option, then ‘View Filed returns’.

Step 3: The most recent ITR filed (assuming you have already done so) for FY 2020-21 will be for AY 2021-22. Choose ‘View Details’ from the drop-down menu. It will display the status of any ITRs that have been filed after they have been selected.

It will also show you the date on which a tax refund was issued, the amount refunded, and the date on which any refund due for this AY was cleared.

How to track status of Income tax refund on TIN NSDL website

It should be noted that 10 days after the refund has been forwarded by the Assessing Officer to the return banker, the taxpayer can check the status of the refund on this website.

Step 1: Visit: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

Step 2: Enter your PAN details

Step 3: Choose the appropriate assessment year for which you want to check the status of your refund. The assessment year for FY 2020-21 will be 2021-22.

Step 4: Click submit after entering the captcha code. A notice will appear on your screen depending on the status of your refund.

The message you receive will be determined by the status of your tax refund. One of the following messages will be displayed:

  • Refund is credited
  • Refund Returned
  • Adjusted against outstanding demand of previous year
  • Refund re-issue request

Also read:
How to check income tax refund status

Also read:
How to claim income tax refund

Note that the refund amount you claim when filing your ITR may or may not be accepted and paid by the tax department. Following the completion of your ITR, the tax department will determine the amount of any return you will get. When you file and verify your ITR, the tax department will process it and verify the validity of the claim.