Income Tax Refund Status For FY 2023-24: According to the Finance Minister, the reason for the speed up in ITR processing in the country is to update the income tax return system.
Income Tax Refund: In the assessment year 2024-25, 7.28 crore income tax returns have been filed. After this, ITR processing has been expedited. Due to which now the money of ITR refund is going to come in the bank account of the taxpayers quickly. Finance Minister Nirmala Sitharaman has said that the time of ITR processing has decreased rapidly in the last few years. This is a big achievement of the Modi government in the tax sector.
How many days after filing ITR do you get refund?
According to the Finance Minister, the time of ITR processing in the country has come down to 10 days, which was 93 days in 2013. Due to this, the refund has become faster than before. The reason for the speed in ITR processing is to update the income tax return system, simplify the personal tax regime and make tax returns easier.
When will the Income Tax Refund come?
In such a situation, everyone wants to know when the income tax refund will come. Have you filed Income Tax Return (ITR Filling 2024) and are eagerly waiting for the refund to come? So let us tell you that you can check your tax refund status on the e-filing portal of Incometax.gov.in of the Income Tax Department. Here we are going to tell you the step-by-step process to check your tax refund status online on the e-filing portal and National Securities Depository (NSDL) website.
How to check income tax return status?
If you have filed your ITR and now want to check its return status (ITR Refund Status), then follow the steps given below. Through this, you can find out the ITR refund status (ITR Refund Status Check With PAN Card) using your PAN card.
- First of all go to the website www.incometax.gov.in. After this, log in to the website through your PAN and password.
- After logging in to the e-filing portal, go to the ‘e-file tab’. Select the option of ‘view filed return’ there. Here you will see the details of all the returns filed.
- To see the current status, you have to click on the option of ‘view detail’. After this, the status of the ITR file will start appearing on your screen.
- If you have been sent a refund by the Income Tax Department, then you will see its details there. You will also see information like mode of payment, refund amount and date of clearance there.
How to check ITR refund status on NSDL website
You can check the status of your tax refund on the NSDL website. Here just enter your PAN number and select the assessment year. After this, enter the captcha code and click on Proceed.
- You will need these things to check your income tax refund status online (ITR Status Check Online).
- You must have a valid user ID and password to log in to the Income Tax e-filing portal.
- Your PAN number must be linked to your Aadhaar.
- You must have the acknowledgement number of the ITR you have filed.
7.5 percent more ITR filed than last year
According to the latest data released by the Finance Ministry, 7.28 crore ITRs were submitted for the assessment year 2024-25 till July 31, 2024. This is 7.5 percent more than last year. According to the Finance Minister, out of the total ITRs deposited till July 31, 72.8 percent ITRs have been submitted under the new tax regime.
As of July 31, the number of first-time ITR filers for the financial year 2023-24 was 58.57 lakh, which shows that with the growth of the economy, the number of tax payers in the country is increasing.
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