Income Tax Refund means the return of the excess tax collected by the Income Tax Department. This tax goes to the Income Tax Department through TDS, TCS, Advance Tax or Self Assessment Tax.
Income Tax Refund means the return of the excess tax taken by the Income Tax Department. This tax goes to the Income Tax Department through TDS, TCS, Advance Tax or Self Assessment Tax. At the same time, while filing ITR, the person often tells his deduction, after which the excess tax is refunded by the Income Tax Department. However, many times the refund fails. The Income Tax Department itself has told how you can request for refund reissue if the refund fails.
How is more tax deducted from employed people?
In the case of employed people, many times the new tax regime is selected by mistake and the employee does not get any benefit from HRA and various investments. In such a situation also more tax is deducted. However, while filing ITR, that person can change his tax regime to the old system and claim all deductions. After this, the refund is issued by the Income Tax Department.
In how many days does the refund come?
According to the Income Tax Department website, it takes about 4-5 weeks for the income tax refund to come. Remember, to get this refund, you not only have to file the income tax return, but also have to get it e-verified. Many times people forget to get e-verified, due to which their refund gets stuck. Refund is received in 4-5 weeks only after e-verification.
What to do if the refund fails?
It has been seen many times that people fill ITR correctly, but despite that their refund fails. If your refund also does not come in 4-5 weeks, then you should once go to the Income Tax Department website and check the refund status there. If you see that the refund has failed, then you can ask for a refund again.
How to make a Refund Reissue Request?
To place a request for re-issuance of refund, you have to go to the Income Tax Department website. Its entire process has been told by the Income Tax Department itself. Let’s know the entire process.
- First of all login to the e-filing portal and go to Service Requests and select Refund Reisue.
- There you have to click on Refund Reissue Request.
- After this you have to select the record for which you want to request reissue.
- Select the bank account in which you want to get the refund. Keep in mind that if the account selected by you is not valid, then it will have to be validated first from the e-filing portal.
- After this you have to click on Proceed to Verification.
- After this you have to choose one of the e-verification methods from Aadhaar OTP, EVC or DSC.
- After doing this you have to click on Continue and your request will go to the Income Tax Department.
Why does the refund fail?
The most common reason for the refund to fail is some problem with your bank account. The refund can be stopped due to your account number or IFSC code being wrong. Not only this, if you have not validated your account, then also your refund fails. Many times the name written on the PAN card and the name written in the bank account do not match, due to which your refund can also fail. If your PAN and Aadhaar are not linked, then also your refund can fail.
