The new income tax e-filing portal has made the paperless filing of Income Tax Returns (ITRs) and other tax-related services easier, smoother and more efficient.
Taxpayers are always urged to file their IT returns as soon as possible. The sooner they file, the sooner they can receive their tax refund. The last date to file IT statements for fiscal 2020-21 is March 31, 2022.
If a taxpayer’s taxes have been paid in excess of their actual tax liabilities, they are entitled to a refund. When a taxpayer requests a refund for their tax return, the income tax department processes it and the taxpayer receives a notification from the Central Processing Center or CPC under Section 143 (1), which confirms the amount of refund eligible to be paid by the taxpayer.
Income tax refunds are processed between 20 and 45 days after the ITR is processed. If taxpayers have not received their refunds, the first thing they need to do is check the status of the refund. There are two ways to do this-through the NSDL portal and the income tax e-file website.
Here’s how taxpayers can view the refund status on the income tax e-filing portal:
Visit the e-Filing portal with User ID, Password, Date of Birth / Date of Incorporation and Captcha.
Go to My Account and click on Refund/Request Status.
There are details such as year of assessment, status, reason for failure to repay (if any) and method of payment will be displayed.
Here’s how taxpayers can view refund status on the TIN NSDL website:
Visit the refund status page on the NSDL website.
In the screen that appears, enter your PAN, the year of assessment and the captcha that appears.
Click on Continue.