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Friday 18 January 2019

All About Income Tax Refund Status

Generally, a taxpayer is eligible for the income tax refund, when he/ she has paid more tax than the actual tax liability. There are various circumstances under which a taxpayer can receive Income Tax Refund. Here are the following circumstances, where you can receive Income Tax Refund from the Income Tax Department, after ITR Filing: –
  • You can receive a tax refund, when your employer has deducted more TDS than you were actually liable to pay.
  • There are times, when a taxpayer does not fall under the taxable bracket and yet the TDS is deducted from their income, then in that case, the taxpayer can claim Income Tax Refund as well as they can track their Income Tax Refund Status by visiting the Income Tax Department’s official e-filing website.
When a taxpayer claims a tax refund then, then the Income Tax Department processes the request and the taxpayer receives an intimation about the same from Centralized Processing Center or CPC under Section 143(1). This intimation confirms the quantum of refund that the taxpayer is eligible to receive. The tax refund can either match with the claimed amount or it can be higher/ lower than what is claimed in the Income Tax Return. This refund amount is what the taxpayer would ideally receive from the income tax department.
How can a taxpayer check Income Tax Refund Status?
Once the refund is determined, the same is processed by the Income Tax Department. Once the refund is processed a taxpayer can check the Income Tax Refund Status online by visiting the following websites: –
  • The Income Tax Department’s Official E-filing Portal
  • The NSDL Website
So, click here and get more details about how to get Income Tax Refund Status.