Income tax refunds are sent via two modes – RTGS/NECS and paper cheque. Through RTGS/NECS mode, income tax refunds are credited directly to the bank account.
Taxpayers who have filed income tax returns (ITRs) must check their income tax refund status. The Central Board of Direct Taxes (CBDT) has issued tax refunds of more than Rs 1,67,048 crore to over 1.87 crore taxpayers from April 1, 2021 to February 7, 2022.
Income tax refunds of Rs 59,949 crore have been issued in 1,85,65,723 cases and corporate tax refunds of Rs 1,07,099 crore have been issued in 2,28,100 cases. This includes 1.48 crore refunds for AY 2021-22 amounting to Rs 28, 704.38 crore, Income Tax India tweeted.
INCOME TAX REFUND
Income tax refunds are sent via two modes – RTGS/NECS and paper cheque.
Through RTGS/NECS mode, income tax refunds are credited directly to the bank account.
For this, the taxpayer’s bank account, MICR code/IFSC code of bank branch and correct communication address are mandatory.
For paper cheques, bank account number and correct address are mandatory.
Notably, ‘Refund paid’ status is also reflected in the ‘Tax Credit Statements’ on Form 26AS.
INCOME TAX REFUND CHECK ONLINE
To check income tax refunds, you need to go to – https://tin.tin.nsdl.com/oltas/refund-status-pan.html
You need to enter details such as Permanent Account Number (PAN) and Assessment Year.
You need to enter the captcha code and proceed.
Source: https://www.indiatoday.in/business/story/itr-filing-income-tax-refund-status-check-online-1911855-2022-02-11
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