Income Tax Refund: How To Know The Refund Status On The New Income Tax Portal

 

When a taxpayer makes an excess payment of income tax in comparison to their actual income tax burden for a particular year, the excess money is reimbursed to the taxpayer following due assessment by the Income Tax Department.

The money that is refunded is known as an income tax refund.

A taxpayer can claim an income tax refund when an employer deducts excessive TDS from an employee, or excess TDS was deducted on a person's interest income from bank FDs or bonds, or excess advance tax was paid, among other things.

The ITR form can be used to seek an income tax refund. The I-T department will only process the ITR for refund if it is validated by delivering a signed copy of ITR V via any of the online or offline methods.

Furthermore, the refund is subject to the IT department's review and verification. Only if the refund claim is confirmed to be valid and legitimate does the individual receive a reimbursement.

The status of the refund can be checked from the income tax e-filing portal. Here's how you can do it:

-- Click here to access the income tax e-filing portal

-- Enter your user ID, password, and captcha to log into your account

-- Then click ‘login'

-- Select ‘View Returns / Forms' from the drop-down menu

When a taxpayer makes an excess payment of income tax in comparison to their actual income tax burden for a particular year, the excess money is reimbursed to the taxpayer following due assessment by the Income Tax Department.

The money that is refunded is known as an income tax refund.

A taxpayer can claim an income tax refund when an employer deducts excessive TDS from an employee, or excess TDS was deducted on a person's interest income from bank FDs or bonds, or excess advance tax was paid, among other things.

The ITR form can be used to seek an income tax refund. The I-T department will only process the ITR for refund if it is validated by delivering a signed copy of ITR V via any of the online or offline methods.

Furthermore, the refund is subject to the IT department's review and verification. Only if the refund claim is confirmed to be valid and legitimate does the individual receive a reimbursement.

The status of the refund can be checked from the income tax e-filing portal. Here's how you can do it:

-- Click here to access the income tax e-filing portal

-- Enter your user ID, password, and captcha to log into your account

-- Then click ‘login'

-- Select ‘View Returns / Forms' from the drop-down menu

When a taxpayer makes an excess payment of income tax in comparison to their actual income tax burden for a particular year, the excess money is reimbursed to the taxpayer following due assessment by the Income Tax Department.

The money that is refunded is known as an income tax refund.

A taxpayer can claim an income tax refund when an employer deducts excessive TDS from an employee, or excess TDS was deducted on a person's interest income from bank FDs or bonds, or excess advance tax was paid, among other things.

The ITR form can be used to seek an income tax refund. The I-T department will only process the ITR for refund if it is validated by delivering a signed copy of ITR V via any of the online or offline methods.

Furthermore, the refund is subject to the IT department's review and verification. Only if the refund claim is confirmed to be valid and legitimate does the individual receive a reimbursement.

The status of the refund can be checked from the income tax e-filing portal. Here's how you can do it:

-- Click here to access the income tax e-filing portal

-- Enter your user ID, password, and captcha to log into your account

-- Then click ‘login'

-- Select ‘View Returns / Forms' from the drop-down menu\
Source:https://www.ndtv.com/business/how-to-know-your-income-tax-refund-status-on-the-new-income-tax-portal-2875374


Download our App to get knowledge updates: https://play.google.com
/store/apps/details?id=com.app.gstmitra












Join Our Telegram Channel for more updates:https://t.me/praveengst: