An Income-tax refund, in simple words, is the amount that the Government pays back to the taxpayer who has paid excess taxes. Income-tax refund arises when self-assessment tax paid, advance tax paid and/or tax deducted from the taxpayer is more than tax liability.
What are the prerequisites for getting an income tax refund?
In order to get an Income-tax refund, one must first file his/her Income-tax return. The amount of refund receivable is to be shown in the return. Secondly, there must be a genuine case of payment of excess tax.
How can I claim a refund?
You can claim a refund by filing your return. However, if you forget to claim it then you can revise your return within the specified period of time and claim a refund in the revised return.
How to check refund status?
To check refund status go to https://tin.tin.nsdl.com/oltas/refund-status-pan.html. You can also check the refund status from myITreturn.com. Click here to know the refund status.