Apply for Income Tax Refunds
Income Tax Refunds
Income tax refund! Sounds quite familiar, doesn’t it? Many of us would have received a refund from the income tax department in the past. So, when and how does one get a refund? Let us explore this in detail.
Refund arises when taxes paid are higher than your actual tax liability (including interest). It could be in the form of advance tax, self-assessment tax, tax deducted at source, foreign tax credit etc. Given below is an illustration showing when and how a refund arises.
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FAQ
A person can claim the refund of the excess amount which they paid during their financial or assessment year returns. Make sure you do not exceed the last date of return.
There is an availability of online checking which makes things easy. Follow these steps:
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- Log in to the official website of E-filing. Enter User ID, Date of birth, date of incorporation, password, and Captcha.
- Click on MY Account
- Click on Refund\Demand status.
- Then, a few details will be displayed (Assessment year, status, reason, and mode of payment).
- You can click on whichever your requirement and proceed.
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First, you need to file the income tax refund, it is processed by the authorities at CPC, after processing the income tax refunds forms, the income tax orders are generated and paid to the taxpayer.
There is an option online; you can easily check your refund status.
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- Go to the Income-tax return website.
- Access refund pages.
- Enter Pan Card number, and assessment year, then enter the captcha and click on submit.Refund status will be displayed on the screen
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