There might be various reasons why you haven’t received your Income Tax Refund (ITR). It is critical to analyze these alternatives in order to identify the source of the delay and take suitable action. To begin, keep note of any IT Department correspondence and answer quickly if they need further information or verification. There are several possible reasons why you did not receive your ITR return in India.
Reasons Why You Did Not Receive Your ITR Return In India
1. The Discrepancy in Form 26AS
Form 26AS is a consolidated account of all taxes paid on your behalf using your PAN. A difference between the TDS (Tax Deducted at Source) numbers in your return and the TDS details in Form 26AS might cause a refund delay.
2. Technical Factors
Refunds may be delayed due to technical difficulties such as server downtime or backlogs. In such circumstances, you can get further information from the ITD helpdesk.
3. Outstanding Demand
If you have any outstanding dues from the previous fiscal year, your income tax return may be delayed. In such circumstances, your return will be used to pay down those debts. This will be communicated to you via an intimation message.
4. Return Under Consideration
The Income Tax Department selects some returns for examination to guarantee correctness and compliance. If your return is being investigated, your reimbursement may be delayed until the investigation is completed.
5. ITR e-verification
Verifying/E-verifying your income tax return is a prerequisite for both submitting an ITR and collecting a refund. The e-verification procedure must be completed within 30 days of filing your ITR. As a result, e-verify your ITR within the time frame specified. This will aid in the processing of your refund.
6. Bank Account Details
In order for an ITR refund to be handled, your bank account must be pre-validated; otherwise, the refund will not be provided. Furthermore, the name listed in your bank account must match the information on your PAN card. The reimbursement will be deposited into the bank account you specified on your ITR. If your account information is wrong, you will not receive the same.
7. Income Tax Department Processes ITR
An ITR is normally processed within a few days by the Income Tax Department. If you haven’t submitted your ITR in a long time, you may check the status of your refund on the ITD website. Only once the income tax return has been completed is a refund granted.
8. ITR Refund Eligible
Only if the Income Tax Department certifies your eligibility for it when processing your income tax return will you receive a refund. The reimbursement is usually credited within four weeks of them confirming your eligibility.