Income Tax Refund Status: Tax refund is coming to bank account in just 7 days; But your money can get stuck due to these 4 mistakes, check immediately

If you have filed your Income Tax Return (ITR) for this current assessment year, then there is a very good and big news for you. This year, the pace of issuing tax refunds by the Income Tax Department is witnessing an unprecedented pace. The refund which was earlier credited to the bank account after a long and tedious wait of months, is now being received by many conscious taxpayers directly in their bank account within just 7 to 10 working days.

However, the department has clarified that this super-fast service is only for those whose tax data is completely clean. In cases where the data matching is not correct, or the tax calculation is a bit complicated and ambiguous, it may still take 4 to 5 weeks or up to a month for the refund to arrive. Let us know in detail why the refund is coming so quickly this time and what are the 4 big mistakes due to which your refund can get stuck midway.

After all, why are refunds coming at rocket speed this time?

The backend processing system of the Income Tax Department has become completely upgraded and hi-tech in the last few years. The whole game behind this miraculous speed of refund is of state-of-the-art AI and modern technology:

• Automated Verification: Now the department’s centralized system matches the returns filed by you with your AIS and TDS live data in the blink of an eye.

• Real-Time Integration: The tax department’s central server pulls real-time data directly from all major banks, corporate companies, stock brokers and other financial reporting entities in the country. If the data entered by you and the government records match exactly, the AI ​​system clears the refund immediately without any human intervention.

Important Note: This digital process of refund processing starts only when the taxpayer submits his completed return. e-Verify Does. ITR without e-verification is considered invalid, so complete it immediately after filing the return.

Your refund may get stuck midway due to these 4 serious mistakes

According to tax experts, the faster the department’s new automated system has become, the more sensitive it has become regarding the accuracy of the data. Even a small human error on your part can delay a refund for months. Following are the main reasons for refund getting stuck:

1. Mismatch between AIS and TDS

If there is even a slight mismatch between the income figures declared by you in your return and the official records of Annual Information Statement (AIS) or Form 26AS available with the department, the system puts your return on hold and the refund is stopped.

2. Mistake or lack of validation in bank account details

If you have entered your bank account number or IFSC code incorrectly while filling the ITR form, the refund amount will not be transferred. Additionally, if your bank account is not linked to your PAN or not pre-validated on the e-filing portal, the refund request will fail.

3. Non-disclosure of capital gains and foreign income

If you have misreported capital gains from the stock market, mutual funds or sale of any property, or have not disclosed any of your foreign income or assets in the return, your refund will be stopped immediately.

4. Stuck in Risk Management Framework (AI Filter)

If any unusual or suspicious tax deduction claim (like fake HRA or donation) appears in your return, the department’s automated risk filter sets it aside for additional scrutiny.

If the refund has not yet come to your account, then do these 3 things immediately

If a lot of time has passed since you e-verified your return and the refund has not yet been credited to your bank account, then without panic, immediately follow these simple steps:

1. Check status on e-filing portal: Visit the official e-filing portal of the Income Tax Department and log in with the help of your user ID (PAN number) and password. After this go to ‘View Filed Returns’ and check your Refund Status Check if your return has been processed or not.

2. View emails and intimation notices: Regularly check the inbox and spam folder of your registered email ID. If the refund is withheld due to data mismatch or any other error, then the department will take action under section 143(1). Intimation Notice Or the mail of refund failure must have come.

3. Enter the Refund Re-issue request: If your refund has failed due to the bank account being invalid or not pre-validated, then first go to the portal and validate the correct bank account. After this, go to the service tab and submit the request for ‘Refund Re-issue’. After this correction, the money comes safely into your account in the next 7 to 10 days.