For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Reasons why your income tax refund may be getting delayed

|
Reasons why your income tax refund may be getting delayed
It is that time of the year, when many taxpayers who had filed their return by August 5, 2013, the extended deadline for this year, which otherwise is July 31st every year expect to receive income tax refunds. But due to some of the discrepancies on the side of the taxpayer, the processing of return filed with the tax authorities gets delayed. So, in order that your income tax refunds are credited to your account on a timely basis, ensure that you cross-check the following parameters again before completing the process at your end.
 

1. Furnish all required and mandatory details in income tax return : Improper as well as insufficient details on the part of the taxpayer in the filed tax return can result in the rejection of your claim for refunds. So, while filing the return ascertain that you give proper and complete input.

2. Ensure the delivery of ITR V or Acknowledgment Receipt to IT Dept. CPC Center in Bangalore: Individuals who file the return without using their digital signature certificate (DSC) need to compulsorily send the verification copy to IT Dept. CPC Centre in Bangalore in not more than 120 days from the online date of filing return. Failure of the same results in non-processing of your filed. So, in case you had filed the return at even now you have time to check whether you had sent or not the ITR-V and take action accordingly.

3. Ascertain that your bank account is operational: While giving the details of the bank assure that you provide details of the bank which is currently operating. Also, ensure that the bank account number is properly quoted by you otherwise also your return will be left unprocessed. While the opt for ECS facility results in early credit, high-value refunds are still being provided through cheques. So, for proper correspondence of the refund amount ensure that you enter the details of the address properly and moreover it would indeed be good if you provide permanent address while filing the return.

GoodReturns.in

Story first published: Friday, October 18, 2013, 9:51 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more