ITR (Income Tax refund) Status 2020-21

ITR (Income Tax refund) Status 2020-21

The income tax department scrutinizes every ITR filed and assesses the tax amount paid. If the assessee overpaid the tax, the department issues them a refund. According to the Income Tax Act of 1961, all taxpayers who have overpaid their taxes are eligible for a refund. They can file a claim for a refund through the income tax return form. The extra amount deposited is reimbursed to their registered bank account.

Delay in Income Tax Refund

It is always advisable to file income tax returns in time. Filing the ITR will result in an early tax assessment, and you will receive the refund (if any) sooner. With the passing of days, the number of returns filed by taxpayers increases, and the processing of your file will be delayed. Hence, the refund would also be delayed. But this might not be the only reason for the refund to be delayed. There can be other reasons for the delay.

The Process to Follow for Income Tax Refund Status 2020-21 Delay

If the amount of your income tax refund is not credited in the stipulated period, you must check the refund status by logging in to the income tax e-filing portal.

Follow the below-given steps to check the refund status:

Step 1 – Go to the official Income Tax e-filing portal

Step 2 – Using your credentials, log in to your account

Step 3 – Click on e-file

Step 4 – Select income tax returns

Step 5 – Now, click on view the filed returns

Step 6 – Choose the assessment year for which you wish to check the refund status.

Step 7 – After selecting the assessment year, click on view details. A new window will open, and the refund status of your ITR will be displayed on your screen.

Note:

If the income tax return is processed, but the department’s refund is not issued yet, the status will reflect – Processed with a refund due. Usually, it takes around 20 to 45 days after the processing of the ITR to receive the refund amount.

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