I-T Refund

If your refund is delayed, the first thing you should do is check status on the Income Tax e-filing portal

Correct your mistake or provide additional information required by Department so that your return gets processed

This includes 1.1 crore refunds of Assessment Year 2021-22 amounting to Rs 21,323.55 crore

Income Tax refunds of over Rs 1.19 lakh crore have been issued to over 1.02 crore taxpayers between April 1 to November 15, the I-T department said on Thursday. This includes 67.99 lakh refunds of AY 2021-22, amounting to Rs 13,140.94 crore. "CBDT (Central Board of Direct Taxes) issues refunds of over Rs 1,19,093 crore to more than 1.02 crore taxpayers from 1st April 2021 to 15th November 2021. Income tax refunds of Rs 38,034 crore have been issued in 1,00,42,619 cases & corporate tax refunds of Rs 81,059 crore have been issued in 1,80,407 cases," the I-T department tweeted.

Do this only if there are no remarks or reasons given by I-T division for withholding it

The Income Tax Department has urged taxpayers to "quickly" send an online response so that their pending refunds for assessment year 2020-21 can be processed expeditiously. In an official statement issued on Sunday, it said that till date, 93 per cent of the refund claims in ITRs (Income Tax Returns) filed for assessment year (AY) 20-21 have "already" been processed. "In the past week, refunds of over Rs 15,269 crore have been issued which will be credited to taxpayers shortly," it said. The statement said that in order to "resolve" pending refunds of assessment year 2020-21, the department is in the process of communicating with taxpayers, where response from taxpayers would be required in cases involving notices "for prima facie adjustments, defects, adjustment under section 245 and refund failure due to bank account mismatch." "The department requests taxpayers to respond online quickly, so that ITRs in such cases of AY 20-21 can be processed expeditiously," it said. The statem

The Income Tax Department on Wednesday said it has issued refunds of over Rs 5,649 crore to 739,000 taxpayers during April 1-19, 2021-22

Personal income tax refunds of Rs 62,231 crore have been issued to over 17.1 million taxpayers. Stay tuned for Latest LIVE news

This includes personal income tax (PIT) refunds during this period

Stay tuned for Latest LIVE news

The income tax department now has a fully automated system of refunds payment directly going into the bank accounts of the taxpayers without manual intervention

The Income Tax department on Wednesday said it has issued refunds worth over Rs 1.25 lakh crore to over 38 lakh taxpayers so far this fiscal. This include personal income tax (PIT) refunds amounting to Rs 33,870 crore and corporate tax refunds amounting to Rs 91,599 crore during this period. "CBDT issues refunds of over Rs. 1,25,470 crore to more than 38.23 lakh taxpayers between 1st April, 2020 to 20th October, 2020. Income tax refunds of Rs. 33,870 crore & corporate tax refunds of Rs. 91,599 crore have been issued during the said period," the Central Board of Direct Taxes (CBDT) said in a tweet. The government has emphasised on providing tax related services without any hassles during the COVID-19 pandemic, and accordingly has been clearing up pending tax refunds.

The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for quick processing of their refunds

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to tackle the economic impact of Covid.

Assocham President Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of I-T, VAT, and GST, and compensation

Vodafone Idea, which is facing a financial crisis after the apex court ordered it to pay AGR dues and penalties totalling Rs 53,000 crore, will, however, have to wait for other refunds

Once the revised forms are notified, it will further necessitate the consequential changes in the software and return filing utility

The move is aimed at helping many overcome cash crunch due to nationwide lockdown, and is expected to benefit 1.4 million taxpayers

An individual is required to file a tax return when his total income exceeds the basic exemption limit of Rs 2.5 lakh, say experts