ITR: Waiting for income tax refund (ITR), know how far your process has reached
State Bank of India (SBI) processes refunds. Refunds are directly credited to the taxpayers account or a check or demand draft is sent to their address.
If you have paid more tax to the government in the last financial year i.e. 2019-20, then you will have to file an Income Tax Return (ITR) to refund the refund claim. The last date to file ITR is 31 December 2020. After ITR processing, if the tax department feels that your claim is correct, then the information will be sent to you via SMS and email. In this message, the department will tell how much amount will be refunded in your account. He will also send a refund sequence number. This information is sent under section 143 (1) (Income tax notice) of the Income Tax Act.
State Bank of India (SBI) processes refunds. Refunds are directly credited to the taxpayers account or a check or demand draft is sent to their address. Therefore, it should be ensured that the bank details are given correctly while filing ITR. The refund amount comes in this account. However, there may be a slight delay in sending refunds from the tax department from this year.
Also Read: ITR For AY 2020-21: Don’t Skip These Incomes While Filing ITR Or Else You Will Get A Tax Notice
There are two ways to track income tax refund status. (Track your Income Tax refund)
1. On income tax e-filing website
2. On TIN NSDL website
Follow the steps to check the status of tax refund on the e-filing website
1. First go to the website www.incometaxindiaefiling.gov.in.
2. Enter the details like PAN, password and captcha code and login to your account.
3. Click on ‘Review Returns / Forms’.
4. Select ‘Income Tax Returns’ from the drop down menu. Select the assessment year for which you want to check your income tax refund status.
5. Click on your enrollment number i.e. hyperlink.
6. A pop-up will appear on your screen which will show the timeline of filing of returns. For example, when your ITR was filed and verified, the date of completion of processing, the date of refund issue, etc.
7. Apart from this, it will also show the assessment year, status, reason for failure and mode of payment.
Check on tin NSDL website
The status of income tax refund can also be checked on the TIN NSDL website. Refund status comes on the website 10 days after the refund is sent. Here is how you can check the status of income tax refund:
1. First go to https://tin.tin.nsdl.com/oltas/refundstatuslogin.html.
2. Enter the details of your PAN
3. Select the assessment year for which refund status is to be checked.
4. Enter captcha code and click on submit. Depending on the status of your refund, a message will appear on your screen.
Send refund re-issue request
If the application is not successful by any kind of mistake, then there is a need to submit a request again.
1. First go to www.incometaxindiaefiling.gov.in.
2. Click on the ‘My Account’ tab. Then select the ‘Service Request’ option.
3. Select the type of request as ‘New Request’. Select ‘Refund Reissue’ as a request category.
4. Details like PAN, Return Type, Assessment Year, Enrollment Number, Communication Reference Number and Response will appear on the new screen.
5. Click on ‘Submit’.
6. You have to submit your bank and address details.
7. To complete the process one has to go through the verification process through Electronic Verification Code (EVC) or Digital Signature Certificate (DSC).