ITR Refund: Income tax refund has not yet come, money can get stuck due to these 6 reasons!
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ITR Refund: It is important to investigate these possibilities to determine the reason for delay in ITR refund and take appropriate action. Keep an eye on the e-mails and letters coming from the Income Tax Department.
The last date for filing return (ITR) for salaried income tax payers was July 31. Many people’s returns have been processed and they have also received refunds. There could be many possible reasons why the refund amount has not been credited to the account of those who have not yet received the refund.
It is important to investigate these possibilities to determine the reason for delay in ITR refund and take appropriate action. Keep an eye on the e-mails and letters coming from the Income Tax Department. If any additional information is sought through them, provide it immediately.
ITR still under verification process
If the ITR is still under process, you may get the refund late. It usually takes a few days to process ITR. If it has been a long time since you filed your ITR and you have not received your refund yet, you must check the status of your refund on the official website.
Some cases of ITR filing go through the Income Tax Department for scrutiny to ensure accuracy and compliance. If your return is under scrutiny process, it will take time to get credited in the ITR refund account.
ITR Refund Eligibility
You also need to check whether you are eligible for a refund or not. You will get the Income Tax Return Refund only when the Income Tax Department processes your Income Tax Return and makes you eligible for it. Once the Income Tax Department confirms your eligibility, the refund is usually credited within four weeks.
wrong bank account
If you have given wrong bank details while filing the return, then the tax refund will not be credited to your account. It is important to note that the name registered in your bank account should match the details of your PAN card. The refund will be credited to the bank account that you have mentioned in your ITR.
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