Today i.e. 31st July is the last date for filing income tax returns. Have you filed your ITR? If yes, then it is a very good thing. After today, such taxpayers will be waiting for tax refund whose tax refund is due. Whether it is a small amount or a big amount, there will be a wait for the money to come back in the account. Let us tell you here that the refund is deposited only in those bank accounts which have been pre-verified through Electronic Clearing Service (ECS). Also, it has been ensured that the name of the account holder matches the name registered on the PAN card.
You will have to wait for four to five weeks!
Income tax refund is the money provided by the Income Tax Department to those individuals who pay more tax than their dues through different methods like TDS (tax deduction at source), advance tax, TCS (tax collection at source) etc. The last date for filing ITR is July 31, 2024, but if you have already filed your income tax return, you are probably wondering when the refund will come to your bank account. The Income Tax Department will not start the refund process until the taxpayer completes the e-verification of his return.
How many days does it take to get a tax refund?
It generally takes 15 to 45 days to process your income tax return (ITR) from the date you e-verify your return. This period can be extended if you use the offline verification method with the ITR-V form. It generally takes about four to five weeks for the refund to be credited to the taxpayer’s account, as stated on the Income Tax Department website.
Check Tax Refund Status Online with PAN Card
To check the status of your income tax refund using PAN card, first visit the official Income Tax e-filing portal – https://eportal.incometax.gov.in.
Log in here using your PAN, password and the captcha code provided.
After logging in, go to the My Account section and select Refund/Demand Status.
Here, you can view details about your refund status, including assessment year, current status, any reasons for refund failure if applicable, and mode of payment.
