Skip to main content

My Income Tax Refund has not been paid?



If you filed your income tax return for FY 2014-15 and have not received your REFUND yet – read on to understand why you may not have received it.
Usually, if you have completed the process of your filing your return and duly sent the ITR-V to the IT Department – the status of your Refund will be updated by the department. This process at least takes 90days or sometimes may take even longer. Do note that the department pays interest on your refund if the delay is greater than 90 days of e-filing (interest is paid when refund is more than 10% of the tax payable by you).
 to check the status of your Income Tax Refund. All you need is your PAN number and the assessment year (Assessment year is 2015-16 for financial year 2014-15).
Do note that online status of your refund is updated only after 10-15 days of the processing of your refund.

Is your Refund Status one of these below? Here’s what you should do
  1. ‘No e-Filing has been done for this assessment year’ – This means you have not filed your return for the assessment year or in case you have filed the department may not have received it. Did you forget to send the ITR-V? You can check the status of your ITR-V If you have not filed your return and you are expecting a refund –file your return NOW. If you had filed a return but forgot to send your ITR-V, you may have to revise your Return.
  2. ‘Not Determined’ – This means your refund is still under process and the department is working on it. Allow another 2-3 weeks and check your refund status again. Usually, refunds are faster when you e-file your return.
  3. ‘Refund Paid’ – The department has already done its job and processed your refund. Didn’t see a credit to your account? Check in your IT Return if you entered your bank account details and the IFSC or MIRC code correctly. then login in the Income Tax e-Filing website and go to ‘My Account’ → ‘Refund re-issue request’. Enter the new Bank Account Number and provide address details. Submit the request. Or else if your details look ok in the return- approach your AO immediately and inform him that refund has not been credited to you. 
  4. No demand no refund – Did you submit your IT Return with a refund due status? You may have possibly missed out on a deduction because of which you were expecting a refund. Review your Return and see if you skipped something. You can revise your Return if you feel you did not ask for a refund when it was due. Do remember that a return can only be revised when it is submitted before its due date.
  5. Any other status – Usually the IT department sends a notice where it either refuses your refund, since there is an error in your return. Check your emails to find out if you received a notice from the department – the notice has details of why your claim has been rejected and you can then review this information.

Comments

Post a Comment

Popular posts from this blog

APPLY PAN CARD FOR FREE FROM YOUR HOME - INCOME TAX DEPARTMENT

Important Note: Instant e-PAN facility is Free of cost and instant allotment of e-Pan and is available only for a limited period on first come first serve basic for valid Aadhaar  holders. Prerequisites: Applicant already having PAN should not apply for e-PAN The e-PAN facility is ONLY for resident individual (Except Minors and others covered u/s 160 of Income Tax Act, 1961) and not for HUF, Firms, Trusts, and Companies etc. Active Mobile number linked with Aadhaar to receive Aadhaar OTP (One Time Password). To verify the registered mobile number in Aadhaar, please visit UIDAI portal  (verify mobile number / email at Aadhaar) . e-PAN is generated using the particular available in Aadhaar, Details such as Name, Date of Birth, Gender, mobile number and address in Aadhaar is not correct or not update, please update the same in  UIDAI  prior applying e-PAN. Guidelines Abbreviations/Initials in Aadhaar name are not permitted in the First and the Last name/Surname. Ac
1 comment
Read more

Last day for Aadhaar-PAN card linking

The last day for linking the 12-digit Aadhaar number with  PAN card  will expire on Saturday 30th june 2018. The government has made it mandatory for PAN card holders to link the same with the unique identification number Aadhaar. Here is a step-by-step guide to link Aadhaar and PAN: 1) Log on to the  Income Tax department's e-filing portal -- www.incometaxindiaefiling.gov.in 2) Enter your Aadhaar and PAN number (mentioned on  Aadhaar card  and PAN card), your name as mentioned in Aadhaar Card and the captcha code. Then click the 'Link Aadhaar' button. Make sure your name mentioned in the Aadhaar card is the same as the PAN card. In case of any discrepancy, like spelling mistakes, the linking will not be possible. If the names mentioned in Aadhaar card and PAN card are different, you need to update your Aadhaar details. 3) That's it! And your Aadhaar is now linked with PAN. A successful linking should display a message. In a bid to make the linking process
Post a Comment
Read more
Govt gives tax break to small businesses on digital receipts of money Businesses with turnover up to Rs 2 crore will have to pay less tax on electronic payment receipts as compared to on receipts/payments received in cash. For businesses with turnover up to Rs 2 crore, it has been decided to reduce the existing rate of deemed profit of 8% under section 44AD of the Income Tax Act to 6% in respect of the amount of total turnover or gross receipts received through banking channel / digital means for the financial year 2016-17, according to a press release from the Central Board of Direct Taxes here today. However, the existing rate of deemed profit of 8% referred to in section 44AD of the Act, shall continue to apply in respect of total turnover or gross receipts received in cash, the release clarifies. Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of certain assesses (i.e. an individual, HUF or a partnership firm other than
Post a Comment
Read more