How to check refund status?
Income tax refund is defined as the amount which is returned or paid by the Income Tax Department of India to the taxpayer. This situation arises when the taxes paid by a taxpayer are more than the actual tax he is liable to pay for the particular financial year.
There are certain cases in which a taxpayer can claim for a tax refund.
- When TDS that has been deducted from your salary, from interest on bank deposits, from interest on bonds, etc. are much more than the actual liability then you can claim a tax refund.
- The advance tax which has been paid on self-assessment is much more than the tax liability should be according to the regular assessment.
- You have not submitted your tax saving investment proofs as a result of which you had to pay more taxes.
- Double taxation of your income.
How can you claim your Income Tax Refund?
If you are eligible for Income Tax Refund, you can claim it by filing for your Income Tax return. The filing for Income Tax returns has become easier and convenient today by electronic filing or e-filing. By the e-filing method, the entire process of tax return has become quite quick and simple. If you are filing income tax returns by electronic system, then you will not need to submit Form 30 for Income Tax Refund. E-filing system will verify your records and income tax returns electronically and in turn, makes your task complete easily. Even if you have forgotten to claim your refunds, Income Tax returns can be revised within the stipulated date and a request for claim can be placed.
Suppose, you have some outstanding tax dues for the previous financial year then by the Income-tax return claim, that amount can be adjusted or can be set-off against the total amount which is to be obtained as the refund. The Income Tax Office has an assessing officer who can help you in doing these calculations and can help you in clearing all back dues.
You are also eligible to earn interest on your refund amount if your refund amount is more than 10% of the total amount which is the tax liability for that particular financial year. Interest can also be paid on the amount refunded at the rate of 6% per annum levied on the amount refund. The interest which is obtained by a taxpayer on ITR refund is considered as taxable income.
Steps to check refund status
When tax paid is more than tax payable, there is a refund which is to be claimed by filing the Income-tax return.
To check the status of Income-tax refund follow the below steps:
- Go to https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
- Below screen will appear. Enter the details.
- Click on "Submit"
Your refund status will be displayed.
You can also check your status of Income-tax refund using myITreturn.com. The steps are as follows:
- Click here - To know refund status.
- Enter PAN, E-mail ID and Assessment Year and Captcha Code. Click on "Check Refund Status"
- You can also check refund status on our Mobile App. Click here to download mobile app.
Different types of Refund Status
Let us have a look at the various types of Income tax refund statuses that many taxpayers come across while claiming their returns.
Refund paid, Step Forward
This status means that the Income-tax Department has processed your refund request. The refund banker has initiated the process of payment either by Demand draft/cheque or direct credit of the amount into your bank account. We have already learned about who is my refund banker. Refund Banker is a scheme in which one particular bank carries out the task of refund issue on behalf of the Income Tax Department. SBI is the authorized refund banker for Income tax refund requests.
Step Forward means it’s now your turn to check with your bank about the receipt of the refund amount. Suppose, you have not received your refund you can check with your bank authorities by quoting the ECS reference number. If the mode of payment was by cheque or demand draft you can track the speed post by finding out about the details from SBI.
No Demand, No Refund
This status means there is some discrepancy in the calculation made by you and the Income Tax Department. The status specifies that your claim has not been accepted by the Income Tax Department and the Department did not find any extra payment that has been made.
However, you can always try and make some corrections by taking certain measures like revision of the Income Tax return as and file a rectification. You should try and include all those deductions which you have missed out. There will be need for submission of supporting documents in case of a rectification request.
No e-filing was done in the financial year
This status means that there has been no e-filing done for Income tax returns. In such a case either you have not filed for the return or your filing has not been successful.
In such a case you can re-file the Tax returns by the help of an Assessing Officer of the Income Tax Department.
Refund Status not determined
This status means that the Income Tax Department will take some more time to scrutinize your records and the results will take some more time.
For status ‘Refund unpaid’, the major probable reasons can be either the bank details which you have provided are wrong or the address mentioned during the e-filing details are wrong. Because of this the amount could not be paid and was returned back.
In such a scenario, you can log in into your e-filing account and find out about the problem. You can also correct the mistakes and apply for refund re-issue.
You may have a query that I have not received my refund even though I filed for it. It might have happened that your refund request got expired. There is a validity period within which returns are transitioned into payments. This is mostly a period of 90 days. If this period expires out, then your request is considered to be expired or canceled.
In such case, you can visit your e-filing website and raise a request for refund re-issue. In case of refund request raised by paper form, the taxpayer can get in touch with the Assessing Officer for guidance.
Rectification processed, No demand, No rectification
Here the status means that the rectification request which has been raised by the taxpayer has been accepted by the Income-tax department. However, they have found out that there is no extra payment has been done or there are no pending taxes due.
In such case, it is better to have a detailed study of the facts to understand the scenario.
In addition to the above briefly mentioned status, there are quite a large number of other statuses for refund requests like demand determined, rectification processed and demand determined, etc. For refund requests, it is always advisable to correctly fill up the details while e-filing the returns. This will avoid unnecessary hassles related to payment options; location details etc. making the process easier and you would get your refunds on time.
- How long does it take to get a tax refund?
You can obtain your refund within 2 to 6 months of e-filing your returns. This process will take longer if you have raised the refund request physically by papers.
- Is it possible to claim tax returns for previous years?
You can raise refund requests for previous years but up to 2 previous financial years.
- Is it necessary that your tax return should have been filed on time in order to claim IT refunds?
No, it is not necessary. You can claim your IT refunds even if you have filed for IT returns late.