Individuals are eligible for tax refunds when they have income below tax limit and TDS has been deducted by employer or bank through bank deposit investments. Tax refund can be expected only when you have filed your returns properly. If there is any error or mistake while filing tax returns, your refund will be delayed until the error is rectified.
Here are 6 smart things to know if you have filed your tax returns and waiting for refund:
How taxpayer will receive tax refund?
Assessee while filing his tax returns, refund of payment should be selected from options i.e. direct credit to account or through Refund Cheque.
Tax payers are therefore, required to enter correct Account number and IFSC code along with complete address details including PIN code at the time of filing of Return. Refund cheques will be dispatched to mentioned address through Speed post.
How to cheque refund status?
Taxpayers can view status of refund by entering 'PAN/TAN' and 'Assessment Year' on the following site:
To check status of Income Tax Refunds: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
To check status of TDS Refunds: https://tin.tin.nsdl.com/oltas/refundstatusloginfortan.html
Where to contact for refund related queires?
For any refund related query the tax payer should contact Aayakar Sampark Kendra Toll Free No. 1800-180-1961 or email at [email protected]
For refund related query or any modification in refund record relating to return processed at CPC Bangalore may be contacted on Toll free Number 1800-425-2229 or 080-43456700.
For any payment related query the taxpayer should contact SBI Contact Centre Toll Free No. 1800-425-9760.
Why refund for direct credit fails?
Refund for credit to account maintained can fail when account is closed, or operations in the account had been stopped/hold. Account number provided is of Fixed Deposit or loan of PPF account. However, one can request refund of issue of cheque on line.
Adjusted against previous year
There are chances that refund for the current year had been adjusted against outstanding demand of previous Assessment year either in-part of in-full.
Please verify details from the ECS advice sent by SBI CMP Centre through email or post. For details of the outstanding demand may be obtained by contacting Ward Assessing Officer/CPC Bangalore. In case of e-filed returns -enquiry may be made by login into e-filing portal.
When the refund status will be updated?
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker. Status of 'paid' refund, being paid other than through 'Refund Banker,' can also be viewed at www.tin-nsdl.com.
'Refund paid' status is also being reflected in the 'Tax Credit Statements' in Form 26AS.
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