Income Tax Season: Didn't get ITR refund? Here's what you can do

Zee Biz web team

ZeeBiz Desk

Jul 12,2024

What is income tax refund?

The term "income tax refund" refers to a refund amount started by the income tax department when the amount paid in taxes exceeds the actual amount payable.

The tax is determined after all deductions and exemptions are considered by the income tax department during the assessment process.

Why I-T refund gets failed

If the bank account is not pre-validated. It is now required to pre-validate your bank account. 2. The name on the bank account does not match the PAN card data. 3. In the event of an incorrect IFSC code. 4. If the account you referenced in the ITR has been closed.

How do employed people deduct more tax?

In the case of employed people, many times the new tax regime is selected by mistake and the employee is not able to get any benefit from HRA to other investments. Even in such cases, more tax is deducted.

However, while filing an ITR, the person can change his tax regime to the old one and can claim all the deductions. After this, a refund is issued by the Income Tax Department

In how many days does the refund come?

According to the Income Tax Department website, it takes about 4-5 weeks for the income tax refund to arrive.

I-T refund failed: Here is how to do refund reissue request

If you have received notification from the Income Tax Department or refund banker that the refund processing has failed, you can file a refund reissue request using the e-filing site.