Income tax refund: How to check status and avoid delays in ITR filing process

ITR is filed annually and income tax is deducted from your salary on a monthly basis through Tax Deducted At Source (TDS). TDS is calculated by your employer based on your income tax slab and income projections for the year. However, the final tax liability is determined only during the ITR filing process. If your actual tax liability is lower than the total TDS deducted throughout the year, you are eligible for a refund. Conversely, if your liability is higher, you are required to pay the difference.

To ensure a smooth and timely income tax refund process, there are certain things to keep in mind:

1. Accurate and Complete ITR: Ensure that you provide all the necessary and mandatory information while filing your ITR. Incomplete or inaccurate details can lead to processing delays and refund issues, particularly in offline ITR filings where important information like PAN or signature may be overlooked.

2. Correct Bank Account Details: It is essential to provide accurate bank account details to avoid refund delays. The name on your PAN card should match the name on your bank account. Any discrepancy can hinder the refund process.

3. Suspected Tax Data: If the tax authorities detect any suspicious activity or anomalies in your income tax return, your refund may be withheld until the case is thoroughly examined and resolved. This could potentially result in a delay of several months.

4. Specific Tax Credit Claims: Certain tax credits or deductions claimed in your return may require additional authentication by the tax authorities, causing delays in the refund process.

Typically, it takes around 2-6 months to receive an income tax refund. However, the processing time has significantly reduced to an average of 15 days in recent years.

To check the status of your income tax refund, follow these steps:

1. Visit the E-filing portal.

2. Scroll down to the 'Quick Links' section and click on 'Know Your Refund Status'.

3. Enter your PAN number, assessment year (2023-24 for the current year), and mobile number.

4. Provide the OTP received and submit it. The portal will display the status of your income tax refund. If there are any issues with your ITR bank details, it will show a message stating "No Records Found, please check your E-filing processing status by navigating through e-File - > Income Tax Returns - > View Filed Returns."

The deadline to file your ITR for Assessment Year 2023-24 is July 31. It is advisable to file your ITR early to avoid the last-minute rush. There are different types of income tax forms for various types of tax filers. Understanding the appropriate form for your filing category is crucial to prevent any future income tax notices. Required documents for filing an income tax return may include PAN card, Aadhaar card, Form 16, Form 16A, 16B, 16C, bank statements, Form 26AS, investment proofs, rent agreement, sale deed, and dividend warrants. Form 26AS, available for download from the income tax portal, serves as an annual tax statement providing details of taxes deposited and deducted against your PAN

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