Have you also filed your Income Tax Return (ITR) on time, but the refund has not yet come to your bank account? If you are among those millions of taxpayers who check their bank balance every morning, then this news is for you. The tax department has clarified that the delay in refund is not due to any technical glitch, but due to some small mistakes made by you. This news explains where and why your refund may get stuck.
No pre-validation of bank account
The tax department now sends money only to those accounts which are pre-validated on the portal. If you have opened a new account or have not updated the details of your old account, the refund status may show as failed. In such a situation, quickly go to the e-filing portal and validate your account in the ‘My Bank Account’ section.
Department scrutiny of high value refunds
According to CBDT, this year the department is thoroughly scrutinizing those refunds where the refund amount is very high or where taxpayers have claimed deductions (like HRA, 80C) other than Form-16. The department wants to ensure that these claims are not fraudulent.
Delay in e-verification
Filing ITR is not enough. It is also necessary to e-verify it within 30 days of filing it. If you have not yet verified it with Aadhaar OTP, your return will not be processed and you can forget about the refund.
mismatch in data
If there is even a slight difference between your declared income and the information shown in your AIS (Annual Information Statement) or 26AS, the system will stop your refund. Not reporting income from cryptocurrency or online gaming can also be costly.
How to check your refund status
Log in to the Income Tax Portal.
Go to e-file tab and click on Income Tax Return.
Go to View Filed Returns. Here you can check the status of your latest return. If you see the option “Reissue” it means there was an error with your bank details.
Expert advice
Tax experts say that if your refund is stuck, then you must check your pending action tab. The department has sent notices to many taxpayers through messages, and if they do not respond, the refund can be stopped forever.
