Income Tax Department has released the status of a tax refund. A total of Rs 2.48 lakh crore tax refund was issued to the taxpayers till January 10, 2024. According to the Income Tax Department, Rs 2.48 lakh crore was refunded to the taxpayers from April 1, 2023, to January 10, 2024, for the assessment year 2023-24. But there are still lakhs of people who have not received this refund. There can be many reasons behind this, let us know why you have not received an Income tax refund yet.

Know the status of the refund sitting at home
If you too had filed a return and have not received the refund, then you can check from home. In an easy way, you can know the status of the return (Income Tax Refund Status). If it has not been received yet or there is some mistake in the return or the refund is stuck due to some other reason, then you can find out.

Delays in ITR processing may be due to wrong band details given by the taxpayers. Apart from this, many times taxpayers unknowingly fail to verify the returns uploaded on the portal. Therefore, returns that are not valid are not processed for refund. Therefore, taxpayers should check it again.

Additional documents required
He said that it may also happen that the tax officer may need some additional documents to support the taxpayers' claim in the return. In such cases, the tax officer will send a notice requesting the taxpayers to provide the documents. Once the documents are verified by the officer, the refund will be processed.

You get 120 days' time
Another major reason for the delay in tax refund can be not verifying the ITR. According to the Income Tax Department, taxpayers will have to verify the return using an Electronic Verification Code (EVC) or an Aadhaar-based one-time password (OTP) after completing the paperwork. If the ITR is not verified within 120 days of filing, it is considered invalid. Due to this, the issuance of tax refunds can be stopped.

Time for issuing refund reduced
Diwakar Vijayasarathy, Founder and CEO, of DVS Advisors, says, 'The time taken in refund processing has reduced over the last few years. As per the newly available data, income tax returns during FY 22-23 have been issued within 60 days of filing. In the remaining cases, the time limit may vary depending on the facts. However, Vijayasarathy says that it is important for taxpayers to know that the filing of returns is complete only when the verification process is completed. Only after this, the refund is processed.

In other cases, the refund process may be delayed due to reasons like the difference between the TDS credit claimed in the return and Form 26AS, the difference in data between AIS and return, etc.

How to check refund status
First of all, go to the official website of Income Tax Department incometaxindiaefiling.gov.in.
When the page opens, log in by entering your user ID, PAN card and captcha code.
After this click on the option to view income tax return.
Go to Income Tax Return by choosing another option here.
Select the assessment year and submit.
Now in the next step you will see the status of your refund.

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