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.-- Select ‘Income Tax Returns' from the ‘Select an option' drop-down menu.-- Then enter the relevant assessment year and click ‘Submit'.-- Finally, select the acknowledgment number from the drop-down menu.You can also check the status through the NSDL website. Here's how you can do it:.-- To verify the status of your refund, go to the NSDL website by clicking here.-- A screen appears where you need to key in your PAN number, relevant assessment year, and the image on the screen, then click ‘Submit'.-- After that, you'll get a screen that reveals the status of your refund..Your income tax refund can be paid in two ways: by direct credit of the refund amount or by cheque.

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

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