Only last year, the Income Tax Department has tweaked how one claims their income tax refund. This means, in order to claim your ITR, apart from filing an income tax return (ITR), you also have to ensure that you have pre-validated your bank account. This should be the account in which you wish to receive the income tax refund after filing for it.
Along with pre-validation, one also has to link their PAN card with their bank account. The bank last year had announced that it will only issue e-refunds. So in a nutshell, your ITR will be credited only to those accounts which are PAN linked and are pre-validated on the income tax e-filing website, www.incometaxefiling.gov.in.
How To Claim Income Tax Refund?
Earlier a form called Income Tax Form 30 was required to claim ITR. But now, with e-transfer and e-refund, it can be simply claimed by filing the ITR. The ITR, however, will have to be verified within 120 days of filing either physically or electronically.
The excess tax for which a refund is claimed should be reflected in Form 26AS. Moreover, the refund is subject to verification by the Income Tax Department.
How To Check Income Tax Refund Status?
There are two ways to check ITR return status.
- On NSDL website
- On the E-filing portal of the Income Tax Department
How to check tax refund status on the NSDL website?
Step 1: Visit the NSDL website to track refund.
Step 2: Then you need to fill in the details, including PAN and AY and click ‘Proceed’.
Step 3: Your income tax refund status will be displayed.
How to check tax refund on the e-filing portal?
Step 1: Visit the website https://www.incometaxindiaefiling.gov.in/home
Step 2: Login into the account by entering details like PAN, Password
Step 3: Click on ‘View Returns/Forms’
Step 4: Select income tax returns from drop-down menu and click submit
Step 5: Then click on your acknowledgment number, which is a hyperlink to the relevant assessment year on the system. For FY 2019-20, the assessment year is AY 2020-21.
Step 6: A page with all details of your income tax return will appear.