The Income Tax Department said on Wednesday that so far in the current financial year, tax refunds of more than Rs 2.04 lakh crore have been issued.
The department wrote on Twitter that out of this, Rs 73,607 crore has been returned to 2.06 crore taxpayers in personal income tax case while Rs 1,31,198 crore has been returned to 2,21,014 lakh units in company tax case. According to the department, “CBDT has returned Rs. 2,04,805 crore to 2.02 crore taxpayers from April 1, 2020 to March 15, 2021”.
CBDT issues refunds of over Rs. 2,04,805 crore to more than 2.09 crore taxpayers between 1st April,2020 to 15th March,2021. Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198crore have been issued in 2,21,014 cases
— Income Tax India (@IncomeTaxIndia) March 17, 2021
There are not many fixed deadlines for tax refund
Explain that after filing ITR, if you have a refund, you get it through the Income Tax Department’s Centralized Processing Center (CPC), usually within a few days of filing the tax refund. Is, but if there is a mistake in your ITR assessment, then the tax refund takes time. There is no fixed deadline for issuing tax refunds. You can get it in a week too and it may take more time. Apart from this, in many cases it takes months. It depends on your case how long your refund will come.
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Check the status of refunds in this way
>> For this, you have to go to the income tax e-filing website. Here you will login your portal. For portal login, you have to fill your PAN number, e-filing password and captcha.
>> As soon as your portal profile opens, after that you will have to click on ‘View returns / forms’.
>> In the next step, you will click on ‘Income Tax Returns’ and submit it from the drop down menu. After clicking on the hyperlink assessment number, a new screen will open.
>> On this screen, you will get information about the timeline of filing, processing tax return. It will contain information about the date of filing, date of return confirmation, date of completion of processing, date of issue of refund and payment refund.
>> If your tax refund fails, then on this screen you will be told the reason why the return filed by you has failed.