If TDS is deducted more than the tax liability then you have the option to file ITR on it. Income Tax Department is bound for crediting refund or settles the amount in your account.
You have to fill name of your bank name and its IFSC code while filing ITR. If you have already filled the two information you will get a quick refund from Income Tax Department.
Central Board of Direct Taxes issued refund to 1.59 crore tax payers. The department has issued a message on twitter.
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Income Tax Department has tweeted that a refund of Rs 1.54 lakh crore has been issued in bank accounts from April 1, 2021 to January 10, 2022. The IT department said that in 1.56 crore cases, income tax of Rs 53,689 crore has been refunded, while corporate tax of Rs 1,00,612 crore has been refunded in 2.21,976 cases.
In case you do not have taxable income then you can apply for lower TDS certificate. Fill Form 13 under section 197. Submit the form to TDS deductor.
If you have earnings from interest of bank fill Form 15G.
You will get the refund in 3-6 months of filing ITR. The time is required to do e-verification.
How To Check Refund Status
- Go to the official website www.incometax.gov.in
- Enter User ID/Password.
- Select the Option of e-Filing.
- Select Income Tax Returns.
- Then click on View File Return.
- The status will be visible to you.
