Income Tax Refund Update: If you have also filed your Income Tax Return (ITR) and are now waiting for refund, then bad news has come for you. The central government has said that this time refund money will not be given.
Income Tax Update: There is big news for those who pay income tax. If you have also filed your Income Tax Return (ITR) and are now waiting for refund, then bad news has come for you. The central government has said that this time refund money will not be given. Let us tell you that the last date for filing Income Tax Return (ITR) was 31 July 2023, but even now those who have not filed their ITR will have to pay a fine of Rs 5000.
Refund will stop
According to the information received from the Income Tax Department, if you have filed a refund and you have not received the refund money yet, then it may happen that your refund money has been withheld by the government.
Why will not get refund money?
Let us tell you that the government has started giving refund money to those who file income tax returns for the financial year 2022-23, but this time the government has told that only those people who have got the verification done Only refund money will be received. If you have not done ITR verification, then this time you will not get refund money from the government.
30 days time is available
According to the information received from the government, you have to get e-verification done within 30 days of filing ITR. Earlier this period used to be 120 days, but the Income Tax Department has now reduced it to 30 days, which is applicable from 1 August 2022.
Income tax department gave information
If you do not verify your return during this period, your refund money will get stuck. Along with this, your ITR will also not be processed. According to the Income Tax Department, tax refund is issued only to those who verify ITR.
How to get e-verification done?
- You can verify by sending OTP to the mobile number registered with Aadhaar.
- EVC can be done through pre validated bank account.
- Apart from this, it can also be done through demat account.
- E-verification can be done through ATM through EVC or Net Banking and Digital Signature Certificate.
