Looking for How to track Online Tax Refund? Want to check status of income tax refund? As per the Sections 237 to 245 of the Income Tax Act, 1961, if a person has paid more income tax than actual charge, he/she can claim tax refund from income tax department of India. In case of advance tax, income tax refund issues are common as estimated income may not be earned by person in single financial year.
Track Online Tax Refund of Income Tax – Tax Refund Online
So, here is tutorial where we will teach you how to claim back your tax refund, which form to submit and how you will get your tax refund. People who deal with income tax department or financial transaction are well aware about income tax refund process but common people or first timer who filling income tax return is not so friendly with tax refund process, so do read how to claim and track your income tax refund online.
How to claim Income Tax Refund?
How can I know the status of my tax refund?
- Go to online portal of IT department for Refund Status at https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
- Enter your pan card number which you used to fill income tax return
- Select the assessment year for which you are claiming tax refund
- And click on “Submit” , you will get Tax Refund Status Online
To check status of Income Tax Refunds: – https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
To check status of TDS Refunds: – https://tin.tin.nsdl.com/oltas/refundstatusloginfortan.html
For Returns filed online, status may also be sought by login to the e-filing site of ITD –https://incometaxindiaefiling.gov.in
How Income Tax Department Pays Tax Refund
As per “Refund Banker Scheme” tax payers can receive tax refund by two ways, mentioned below;
NEFT :- Tax department will directly credit tax refund in your bank account which is mentioned in ITR Form. Do provide MICR code, Branch address and Bank a/c no in ITR Form.
Cheque :- You can get paid via paper cheque which will be sent on your home address whichever mentioned in ITR form.
For late payment of Tax Refund
Setting off Tax Dues with Tax Refunds
FAQs related to Online Tax Refund
Who is eligible for Tax Refund?
There are many or very less cases that you are eligible for tax refund, here we are mentioning some of the cases, where you can claim tax refund;
- If you have paid advance tax for current assessment year and at the end of financial year, your income is less than what you paid.
- If your income tax paid by you is higher than total tax deducted at source (TDS), interest earned on debentures, dividends.
- You will charge same income tax as in India and foreign country at same time. (in case of you have earning source from foreign as well).
- If you have not declared investments which gives tax benefit (i.e under section 80C), you claim tax refund for that investments.
- If you find that after all tax deduction, your tax amount is negative.
Is it necessary to fill Income tax return to claim tax refund?
No, It’s not necessary, you can claim tax refund for belated tax return too.
How much time it takes to receive tax refund via cheque or bank transfer?
The refund process will take atlest 4-8 months from the date you file ITR. But as per the new union budget, Central Board of Direct Taxes has issued notice to IT department to start tax refund process in 15-30 days of ITR received online. Here is tweet from Union minister of State for Finance Mr. Jayant Sinha, says in 30 days government has paid 67% of tax refund.
67% of Income Tax refunds were issued by CPC within 30 days in last FY!#TransformingIndia through automated & taxpayer-friendly services— Jayant Sinha (@jayantsinha) April 4, 2016
How to contact Income tax department if refund not received?
If you have not received your tax refund, you can contact IT department at toll free numbers, 1800 4250 0025, and 080-2650 0025.
I am not able to check status of my tax refund
If you have filled form 16 or form 30, after 10 days of request for tax refund online, you will be able see your tax refund status.
If you still have query, you can ask us in below comment box, Thanks for reading at India Shine.