ITR: Didn't get your income tax refund so far? Here's what you should do now

The Central Board of Direct Taxes (CBDT) has already started issuing refunds to taxpayers who filed the income tax returns for the financial year 2022-23. The transfer of refunds, however, takes time as after receiving the application for your income tax returns, the department analyses whether the amount is more or less than your actual tax liability in a financial year. After the processing is complete, an intimation notice is usually sent to the taxpayer's registered email ID and mobile number, stating the refund amount that will credited in the due time. 

It is important to note that the bank accounts along with the PAN number must be pre-validated on the new income tax portal to receive the tax refund. This is also useful in cases when one has not received the refund amount. 

Speaking about the refund, as there are more returns to be processed by the Income Tax department, there are chances that some of them may be delayed due to certain reasons. In case, you have duly filed your income tax returns, but are yet to receive the refund, read more to know about what to do in such a situation. 

What to do in case of a delay in income tax refunds?

In case there is a delay in receiving the income tax refunds, one can visit the e-filing portal of the Income Tax Department and follow the given steps to check the refund status:

1. Go to the e-filing portal at https://www.incometax.gov.in/iec/foportal/

2. Click on the 'Income Tax Return (ITR) Status' on the page. 

2. Next, login to your account with the required credentials. 

3. Enter the OTP received on your registered mobile number and click on 'Continue'. 

4. The ITR refund status will be displayed on the screen. 

Keeping track of the income tax refund status and any communication from the I-T department is important. Also, you might need to provide any additional information or verification. 

While these steps will help to know the refund status, one must also need to know about the possible reasons that have caused a delay in the refunds. 

Reasons for delay in receiving Income Tax refunds

Technical Reasons: One of the common reasons for a delay in refunds is technical reasons including server issues or backlogs. 

Eligibility: Before processing the refund, the Income Tax Department verifies the taxpayer's eligibility and this is can take some time. 

Incomplete Bank Account Details: It is very important to provide accurate and complete details of your bank account and ensure that the bank account is pre-validated. Any mismatch in the details can delay the refund process. 

Verification: After filing ITR, taxpayers mandatorily need to verify their income tax returns. One must complete the e-verification process within 30 days of filing their ITR. 

There are many other possible reasons that may have caused a delay in crediting your refunds, however, if this persists, you can reach out to a tax professional or chartered accountant.