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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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