Income tax refund delayed: This time the income tax return is being done by the Income Tax Department (IT Department) and people are getting refund of income tax within a week.
From April 1, 2020 to January 11, 2021, the Income Tax Department has given a refund of Rs 1.73 lakh crore to 1.57 crore people. However, many people still have not received refunds. Let us know which mistakes are delayed in your refund.
Income tax refund delayed: A statement issued by the Income Tax Department (IT Department) recently stated that from April 1, 2020 to January 11, 2021, about 1.57 crore people were given an income tax refund of Rs 1,73,139 crore. Has gone This time the Income Tax Department is giving a quick refund, which is called instant processing. This is happening and a lot of people are getting tax refund in just a week. At the same time, there are many people who are complaining that despite filling the income tax return several months ago, they have not received refund. There can be 3 reasons behind this, let us know about them.
First mistake – wrong bank account details
If you have entered wrong bank account details for refund while filling ITR, you may get delayed in getting refund. Refunds are being directly deposited by the Income Tax Department in the account of the taxpayer, in such a situation, there may be loss due to wrong information. Also, keep in mind that the bank account you detailed for refund should be linked with the PAN card. If you have not received your refund, then check your bank information once again and rectify it in case of any mistake, so that the refund can come.
Second mistake – Pre-validation of bank account
There are many people who have entered bank account information exactly, but did not get a refund. One big reason for this may also be that you have not prevalidated your bank account. If not done then go to your profile settings and choose the option to prevalidate bank account there. There you may have to provide bank account number, ISSC code, mobile number and email I.D.
Third mistake – ITR not verified
Many people do all the work right from filing income tax returns and entering bank account information to prevalidating the account, but forget to verify their ITR. Keep in mind that the process of filing ITR is not considered complete until you verify it. So even if you have not received refund, check once your return is verified or not. If verification is not done, then it can be verified in 6 ways.
1- Through Aadhar OTP
The easiest way to e-verify your returns is to get the verification done through Aadhaar OTP. To do this, your Aadhar will have to opt for verification through OTP. An OTP will come on the mobile number linked with your Aadhaar number, which will have to be entered for verification. Your ITR will be verified as soon as this happens.
2- Through netbanking by generating EVC
If the OTP link to your Aadhaar does not come on the mobile or there is any other problem, you can generate ITC and verify ITR through NetBanking. For this, you have to generate an EVC through NetBanking and choose to file ITR. After that, select your bank and login to it and click on the Tax tab, after which you will be redirected to the Income Tax website again. From there select the Generate EVC option in the My Account tab. After this, a 10-digit alpha numeric code will be sent to your mobile and email, which will be valid for 72 hours. From here go to the eVerify option under the My Account tab in the income tax department website and verify your ITR with the help of your mobile number by selecting the option I have EVC already.
3- Through EVC generated bank account
For this, first one has to go to the profile settings of your e-filing account and pre-validate your bank account there. Prevalidation will only happen when PAN and your name match with the bank account. You can generate EVC as soon as prevalidation and then you can verify your ITR with the help of OTP on mobile number.
4- ITR verification from Demat account
If you use a demat account, then ITR can also be verified through it. Its method is also similar to bank account. First you have to prevalidate the demat account. After pre-validating the demat account, generate an EVC and then verify the ITR with the help of your mobile number. This process is exactly the same as a bank account.
5- Generating EVC from ATM
If all these options also do not work for you, then you can verify ITR by generating EVC from ATM too. However, customers of only 7 banks can avail this facility. These banks are Axis Bank, Canara Bank, Central Bank of India, ICICI Bank, IDBI Bank, Kotak Mahindra Bank and State Bank of India. If your bank is any of these then you go to the ATM and choose Pin for Income Tax filing option and then generate EVC. After that go to the tax filing website and verify ITR through this EVC.
Sign and send a copy of ITR-V
If any of the above 5 options of e-verification does not work, then you can verify the signed copy of ITR-V by sending it to the Income Tax Department. Sign the form of ITR-V with blue ink pen and send it by speed post to ‘CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka, India’. When this copy is received by the Income Tax Department, its notification will come on your mobile number and email id.
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