The deadline for filing Income Tax Return (ITR) for the financial year 2020-21 was extended to December 2021. Many job seekers have completed the process. Some people are waiting for their refund (ITR Refund). A common reason for delay in refunds was technical issues with the new Income Tax portal. But, now it has been removed. Now the refund work is going on fast.
The reasons for delay in ITR refund can be:
1. Outstanding Taxes
If an individual or business is yet to pay some income tax, then in such a situation the income tax department rejects the request for ITR refund. In such cases a notice is sent to the tax payer for payment of the outstanding tax. After paying the remaining tax within the deadline, the taxpayer can apply for ITR again.
2. Invalid Bank Account
For ITR refund, it is necessary to pre-validate the bank account of the taxpayer. E-verification, secure login, ITI password change can also be done through a pre-validated bank account. It is necessary for the taxpayer to check that the mobile number and email given in the bank account are the same as those filled in the income tax form. In case of mismatch, a warning sign will be displayed on the e-filing portal.
3. Unverified ITR
It is necessary to verify the ITR. Only after that it is considered valid. It can be verified electronically or a signed copy of ITR-V needs to be sent to the Central Processing Center in Bengaluru. It is necessary to verify it within 120 days of filing the return. It can also be verified through Aadhaar. After verification, you will be informed about it on your e-mail address or through message.
- Additional Documents and Eligibility Sometimes the Income Tax Department requires additional documents to proceed with the refund process. For resolution of such issue, the taxpayer can contact the Assessing Officer through phone or post. Another reason could be that the taxpayer is not eligible for a refund. How to check ITI Status?
- Login to https://eportal.incometax.gov.in/iec/foservices/#/login
- Click on ‘Refund/Demand Status’ in the ‘My Account’ menu
- ITR refund failure details will appear on the web page