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2 mins Read | 4 Years Ago

How to Check Income Tax Refund Status

how-to-check-income-tax-refund-status

Before we get in to how to check online income tax refund status, let us first know what is income tax refund.

The income tax refund is the amount payed to the tax payers by the income tax authorities when the taxes paid by the people are more than their actual tax liability for that year. In case you have filed excess tax, you are eligible to claim refund on the excess tax deducted. You can claim the tax refund under the below cases:

  • The Tax Deducted at Source (TDS) on your interest on bonds, interest on bank deposits, salary is more than your actual tax liability for the financial year.
  • The advance tax paid is more than the tax liability.
  • You did not submit any tax-saving investment proof, which leads to additional tax deduction.

How to claim income tax refund?

If you are qualified to get tax refund, you can claim it by filing an online income tax return form. The online tax return filing has made the refund process simple and quick. The e-filing system verifies the tax returns that you have claimed and if your claim is correct, the refund is processed within a few days.

The income tax refunds are paid in two ways:

  • The Income Tax (IT) Department credits the amount due directly into the back account through NEFT or ECS
  • In case you fail to provide bank account details, or forget to specify the mode of payment, the tax department will send you a demand draft to the address mentioned in the form.

How to check income tax refund status?

The IT Department, for the benefit of the people offers an online facility to check the income tax refund status. You can check your refund status in a few simple steps:

  • Go to the website of the IT Department
  • Enter the Permanent Account Number (PAN) details
  • Choose the financial year for which you want to check the refund status
  • Submit this information and you would be taken to the refund status page
  • Based on the online tax refund status mentioned therein, you can take the appropriate corrective measures.

Alternatively, you can also check the status of your online income tax refund through your income tax e-filing account. Log in to your account with the PAN and password and click on the ‘Refund status’ to know the status of refund for the selected year.

What does different refund status signify?

Status – Refund Paid

This implies that the IT Department has processed the tax refund and the banker has initiated the payment either through direct credit to your account or by cheque or demand draft.

Status – No Demand No Refund

This means that the IT Department has denied the refund claim either because there is a mismatch in the calculation of the refund claim or the IT department, after scrutinising your file did not find any excess payment.

Status – Not Determined

This means that the IT has not processed your refund claim yet and the scrutiny of your file is pending.

Status – Determined and sent to refund banker

This means that the IT Department has accepted your claim for refund and the details are sent to the refund banker.

 

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The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

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