Income Tax Department has issued tax refunds of nearly Ra 1.82 lakh crore in current financial year. If you have not received your refund then there are chances that you have entered incorrect bank details. Tax refunds have been made in accounts of more than 2 crore taxpayers this month in current financial year (2021-22).
The figure of Rs 1.82 lakh crore is for refunds that have been released between April 1, 2021 and February 21, 2022. Out of this estimate Rs 117,498 crores were corporate tax refund and Rs 65,498 crore were personal income tax refund.
In a tweet Income Tax Department said, “CBDT has refunded more than Rs 1,82,995 crore to more than 2.07 crore taxpayers between April 1, 2021 and February 21, 2022. Income tax refund of Rs 65,498 crore has been issued in 2,04,44,820 cases and corporate tax refund of Rs 1,17,498 crore has been issued in 2,30,112 cases.”
If your TDS has been deducted more than your tax liability then you have the option to claim refund by filing ITR. While filing ITR you have to give name of your bank along with IFSC code. You can easily get refunds from Income Tax Department by doing this. If you don’t have a taxable income then you have to apply for a NIL TDS Certificate. You can apply for a NIL TDS certificate by filing Form 13 under Section 197.
Form 13 should be submitted to TDS Deductor. If you are not earning interests from banks then you have to give the information by filing form 15G. Usually from your ITR filing date you get refunds in three to six months, the time is taken because of verification process.
Steps To Check Refund Status
- Visit the official e-portal of Income Tax Department
- Login using your ID and Password
- You will see option of e-filing
- Select Income Tax Returns
- Click on View File Return
- Your details will come in front of you.