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Income tax refund means the return of the excess tax taken by the Income Tax Department. This tax goes to the Income Tax Department through TDS, TCS, Advance Tax or Self Assessment Tax. At the same time, while filing ITR, a person often tells his deduction, after which the excess tax is refunded by the Income Tax Department. However, many times the refund fails. The Income Tax Department itself has told how you can request for refund reissue if the refund fails.
How is more tax deducted from salaried people?
In the case of salaried people, many times the new tax regime is chosen by mistake and the employee does not get any benefit from HRA and various investments. In such a situation also more tax is deducted. However, while filing ITR that person can change his tax regime to the old regime and claim all the deductions. After this, the refund is issued by the Income Tax Department.
In how many days does the refund come?
According to the Income Tax Department website, it takes about 4-5 weeks for the income tax refund to arrive. Remember, to get this refund, you not only have to file the income tax return, but also have to get it e-verified. Many times people forget to get e-verified, due to which their refund gets stuck. Refund is received in 4-5 weeks only after e-verification.
What to do if the refund fails?
It has been seen many times that people fill the ITR correctly, but despite that their refund fails. If your refund does not come in 4-5 weeks, then you should once go to the Income Tax Department website and check the refund status there. If you feel that the refund has failed, then you can ask for a refund again.
How to request for refund re-issuance?
To request for re-issuance of refund, you have to visit the Income Tax Department's website. Its complete process has been explained by the Income Tax Department itself. Let's know the complete process.
- First of all login to the e-filing portal and go to Service Request and select Refund Reissue.
- There you have to click on Refund Reissue Request.
- You will then need to select the record for which you wish to request re-issue.
- Select the bank account in which you wish to receive the refund. Keep in mind that if the account you have selected is not valid, it will need to be validated first from the e-filing portal.
- After this you will have to click on Proceed to Verification.
- After this you have to choose one of the e-verification method from Aadhaar OTP, EVC or DSC.
- After doing this you will have to click on Continue and your request will go to the Income Tax Department.
Why does the refund fail?
The most common reason for refund failure is some problem in your bank account. Refund can also be stopped due to your account number or IFSC code being wrong. Not only this, if you have not validated your account, then also your refund can fail. Many times the name written on the PAN card and the name written in the bank account do not match, due to which your refund can also fail. If your PAN and Aadhaar are not linked, then also your refund can fail.
