You can check on the progress of your refund through the e-filing portal for your income taxes.
If a taxpayer overpays their income tax for a given year, the IRS will refund the overpayment to the individual after an accurate assessment has been completed.
An income tax refund is the amount of money returned to the taxpayer.
When an employer deducts excessive TDS from an employee or a person’s interest income from bank FDs or bonds, or excess advance tax is paid, among other things, a taxpayer might claim an income tax refund.
Using the ITR form, you can request a tax refund. To get a refund on your Tax Return (ITR), the I-T department requires a signed copy of ITR V, which may be delivered either online or via mail.
In addition, the refund is subject to examination and verification by the IT department. Individuals will only be reimbursed if their refund claim is verified to be valid and legitimate.
The refund status can be checked from the income tax e-filing portal. Here’s how you can do it:
- Click here to access the income tax e-filing portal
- Enter your user ID, password, and captcha to log into your account
- Then click ‘login.’
- Select ‘View Returns / Forms’ from the drop-down menu
- Select ‘Income Tax Returns’ from the ‘Select an option drop-down menu
- Then enter the relevant assessment year and click ‘Submit.’
- Finally, select the acknowledgement number from the drop-down menu
You can also check the status through the NSDL website. Here’s how you can do it:
- To verify the status of your refund, go to the NSDL website by clicking here
- A screen appears where you need to key in your PAN number, relevant assessment year, and the image on the screen, then click ‘Submit.’
- After that, you’ll get a screen that reveals the status of your refund.
Your income tax refund can be paid in two ways: direct credit of the refund amount or cheque.