• Notification Date: 13-01-2022
  • Notification No: N/A

1.2Crore of Income Tax Refund has been issued

The Central Government has announced to issue 1.59Crore of income tax to the taxpayers. To check whether you have got your share you must follow the below-mentioned rules.

Eligibility for Receiving Income Tax Refund

If the amount of income tax paid by you is more than your tax liability then are eligible for receiving the return. The income tax department begins to process your return amount as soon as you file the income tax and make the payment within the due date of December 31. The information about your income tax returns is notified to you under Section 143 (1) of the Income Tax Act, 1961.

The procedure of Income Tax Refund

The State Bank of India credits the income tax refunds to the recipients. The amount is credited to the bank account that is nominated by the taxpayer. The account number and IFSC code are required. The account number is required to be pre-validated and linked with the PAN card number with the new income tax filing portal.

Instructions to Track Status of Income Tax Refund for AY 2021-22

The status of the income tax refund can be checked on the income tax e-filing portal - https://eportal.incometax.gov.in/

There are other websites like incometax.gov.in where you can log in and check the status using your user ID and password.

You can then check the option of ‘e-file’ and select the ‘Income Tax Returns’ options. Finally, you can select the ‘View File Returns’ option.

You can check the details about the latest ITR filed for AY 2021-22. You can get all the details related to an income tax refund and the date of clearance.

You can check the Refund Status via the TIN NSDL Website

Income tax refund status can be checked through NSDL websites. The refund is processed within 10 days after being sent by the Assessing Officer to the refund banker.

The following steps are required to be followed –

1) Visit https://tin.tin.nsdl.com/oltas/refundstat and then enter PAN details

2) Next, select the assessment year of the refund status.

3) Then the Captcha code is to be verified and then click on ‘Submit’.

Once you complete all the processes, the refund status will be shown on the screen. If the refund is already credited, then ‘Refund is Credited’ will be shown along with all the details of the last four digits of your bank account number and date of refund credit. In case, Refund Returned is viewed on the screen, it means the refund is not credited for some reason.