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Filed ITR? Know how to check refund status, when you will receive it

ITR Refund AY 2022-23: The last date for filing Income Tax Return, or ITR, for AY 2022-23 is July 31. However, the process is not over yet, as the Income Tax department will soon issue refunds claimed by taxpayers in their ITR filings. Those who filed their ITR for AY 2022-23 on time will now wait for their income tax refund, which is issued to taxpayers only when they pay more tax than the actual liability. Hence, it is important to file ITR to get these refunds.

How long does it take to get ITR refund?

Sometimes, the taxpayer has to pay more tax than he actually owes. For example, if the advance tax or tax deducted at source (TDS) is more than the tax payable by the individual, he can claim income tax refund. Income tax refunds are issued to ensure that you get back the excess income you have paid to the government.

The process of getting income tax refund has become easier as the government has shifted to online mode for payment of the same. Income tax refund usually takes 20-45 days after ITR processing, provided you have filed your income tax return and verified it on time. However, if the amount received is less than Rs.100, the Income Tax department does not credit it to your bank account. In such cases, the amount is adjusted against future income tax refunds. The Income Tax department in a press note in 2012 said “Claims below Rs 100 will not be processed but will be liable for adjustment with future income tax refunds. In practice, it has been observed that income tax refund amounts below Rs 100 are not processed by the Income Tax department and credited to the individual’s bank account. is

How to Check Income Tax Refund Status

Step 1: Assessees can check income tax return status online through the Income Tax e-filing website — incometaxindiaefiling.gov.in. To get the OTP they will need their PAN and Aadhaar details apart from their registered mobile number.

Step 2: Once the taxpayer opens the www.incometax.gov.in portal, he/she needs to log into the account using PAN details, OTP and entering CAPTCHA.

Step 3: Once logged in, the taxpayer has to click on the e-file option.

Step 4: From there, one needs to go to the Income Tax Returns tab and click on the Filed Returns option.

Step 5: Taxpayer can check the status of latest filed ITR from there

Step 6: Click on View Details option from where you can check the status of your Income Tax Refund.

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