Income Tax: Income tax refund not received yet, know five reasons for not getting money back
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Income Tax Refund: The last date for filing income tax returns for employed people was kept as 31st July by the Income Tax Department.
Income Tax Refund: After filing income tax return, many people have started receiving refund money, but many people are still waiting for the refund.
Reasons for delay in ITR refund may include investigation by the IT department, incorrect bank account information, ongoing refund process, requirement of supplementary documentation or incorrect information furnished in the return.
The standard processing time for ITR refund is usually 10 days, but this period may vary from case to case.
Taxpayers can check the status of their refund through the Income Tax website or by sending SMS.
If the refund is not received within the standard time frame then the person can contact the Income Tax Department for assistance.
If the bank account details are wrong given in the income tax form, then there is difficulty in getting the refund.
Sometimes the Income Tax Department may require additional documents to process the refund. Like salary slip, Form 16, or investment proof, this also causes delay in refund.
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