The Income Tax Department said on Wednesday that so far in the current financial year, tax refunds of more than Rs 2 lakh crore have been issued.
New Delhi. The Income Tax Department said on Wednesday that it has returned more than Rs 2 lakh crore to more than 2.02 crore taxpayers so far in the current financial year 2020-21 (FY 2020-21).
The department wrote on Twitter that out of this, Rs 71,865 crore has been returned to 1.99 crore taxpayers in personal income tax case while Rs 1.28 lakh crore has been returned to 2.20 lakh units in company tax case. According to the department, “CBDT has returned Rs 2,00,411 crore to 2.02 crore taxpayers during April 1, 2020 to March 8, 2021.”
There are no fixed deadlines for tax refunds.
If you have a refund after filing ITR, then you get it through the Central Tax Processing Center (CPC) of the Income Tax Department, usually tax refund. Comes within a few days of filing, but if there is a mistake in your ITR assessment then the tax refund takes time.
There is no fixed deadline for issuing tax refunds. You can get it in a week and it may take more time. Apart from this, in many cases it takes months. It depends on your case how long your refund will come.
Check the status of refunds in this way
For this, you have to go to the Income Tax e-filing website. Here you will login your portal. For portal login, you have to fill your PAN number, e-filing password and captcha.
As soon as your portal profile opens, you will have to click on ‘View returns / forms’.
In the next step, you will click on ‘Income Tax Returns’ and submit it from the drop down menu. After clicking on the hyperlink assessment number, a new screen will open.
On this screen, you will get information about the timeline of filing, processing tax return.
It will contain information about the date of filing, date of return confirmation, date of completion of processing, date of issue of refund and payment refund.
If your tax refund fails, then on this screen you will be told the reason why the return filed by you has failed.
