7 Reasons Why Your Income Tax Refund Could Be Delayed

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It is the time of the year when you file your tax returns and wait patiently for refund if you are eligible. 

But when you seen other individuals receiving their tax return and not you, many questions maybe asked. You should probably check your refund status online and know the reason for delay.

Here are some common reasons why your return could be delayed.

Manual E filing

If you have filed your returns manually, you will receive the refund late than those who have filed electronically. Note that individuals who have income above Rs 5 lakh should file their tax returns online.

Old bank account number

This is one of the common reasons for the delay in refund. Many taxpayers forget to update the latest account number with the tax department.

Wrong address

In case if the refund is issued through cheque and if there is a change in mailing address, the cheque will be returned to CPC.

Mistake of deductions

If you are expecting any deductions and not received the same? Check the return form to check in case if you have missed to include any deductions.

Wrong information

If the tax department finds any discrepancy in your return. Check your returns, if needed file for the rectification of the same.

Late filing of taxes

If you have filed your tax returns late near to the last date, there can be delay due to rush at the peak time and tax department may take time to process your request.

Not verifying online

If you are sending manual copy of ITR-V to CPC Bangalore, it will take time to receive funds. One can opt for Electronic Verification Code (EVC) for quick verification of tax returns.

Read more about: income tax returns, tax refund
Story first published: Wednesday, June 29, 2016, 11:06 [IST]
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