ITR Filing: When the taxpayer pays income tax in excess of the actual tax liability, he is also entitled to get the extra amount back. The paid extra amount is returned by the Income Tax department after assessment. Taxpayers can get refund by filing their ITR (Income Tax Return). They have to submit all the documents regarding their income and deduction in the return. Filing of return is mandatory for claiming refund. After filing the return, the IT department will verify the return and confirm whether it is eligible for refund or not. The tax department processes the refund only after the return is e-verified by the taxpayer. Generally, it takes 25-60 days for the refund to be credited from the date of e-verification.
Refunds of over Rs 1.67 lakh crore issued
When a taxpayer claims his refund, the tax department processes such return, and the taxpayer will receive an intimation from the CPC under section 143(1) to confirm to the taxpayer whether you are eligible for a refund or not. The IT department has issued refunds worth over Rs 1.67 lakh crore to 1.87 crore taxpayers in the current financial year till February 7. This includes 1.48 crore refunds for assessment year 2021-22 (financial year ending March 2021) amounting to Rs 28,704.38 crore.
Check your income tax refund online like this
The process is quite simple, taxpayers can check the status of their refund through their PAN number and assessment year. This can be done in two different ways. The first way is the new income tax e-filing portal and the way is the NSDL portal.
How to check on e-filing portal
Step 1: Taxpayers have to visit the new income tax e-filing portal.
Step 2: Login to the account by entering User ID, Password and “CAPTCHA”.
Step 3: Click on “View Return/Form”
Step 4: Under “Select an option” click on “Income tax return” and click on relevant assessment year. You can check the status of your refund by submitting it.
How to use NSDL Portal
Step 1: To check the refund status, visit the NSDL website.
Step 2: Feed in the details of PAN, Assessment Year and then click on “Submit”.
Step 3: The website will give information about the refund status of the taxpayers.