Income tax refund: How to raise refund reissue request; a step-by-step guide The refund is typically credited to the taxpayer's account in four to five weeks. If your refund has failed, you have to submit a “Refund Reissue Request” as applicable
The Income Tax Department gives income tax refunds to eligible taxpayers who have paid more in taxes than what is really owed, either through Advance Tax, Self-Assessment Tax, TDS, or TCS. Upon assessment, the tax department computes the tax by factoring in all applicable exemptions and deductions.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} New tax regime to old tax regime: How to choose old income tax regime when filing ITR for FY2023-24
The tax department begins processing refunds after the taxpayer verifies the form electronically. The refund is typically credited to the taxpayer's account in four to five weeks. The taxpayer must, however, check for notifications on errors in their ITR and check their email for any correspondence from the IT department regarding the refund if they do not get it within this time frame.
According to the post on social media X, “If your refund has failed for any reason, please submit “Refund Reissue Request” as applicable. Follow this step by step guide to raise your Refund Reissue Request.”
— IncomeTaxIndia (@IncomeTaxIndia) Step 1: Log into the official Income Tax Department e-filing portal: incometax.gov.in using your user ID (PAN/Aadhaar) and password.
Step 2: Go to service menu and select refund reissue.
Step 3: Click on ‘Refund reissue request’
Step 4: Select the record for which you want to submit the request.
Step 5: Select the bank account where you would like to receive the refund (If your selected account is not validated you need to validate.
Step 6: Click ‘ Proceed for verification’.
Step 7: Select your preferred e-verification method – Aadhaar OTP, EVC, or DSC.
Step 8: Click ‘Continue.
You will receive the success message along with transaction ID.
Note
You can check the status of your request by going back to ‘Service Requests’ and selecting ‘Refund Reissue’ as the category.
Also read: This is essential to get income tax refund credited to your bank account
What can be the reasons for refund failure?
Failure of credit of refund can be due to one or more reasons as listed below:Incorrect Bank Details (Account no, MICR Code, IFSC Code, Name mismatch etc.)Account holder KYC is pendingAccount details given are other than Current Account or Saving Bank AccountAccount Description is incorrectIf the account that you have mentioned in the ITR has been closed.In case the bank account is not pre-validated. It is now compulsory to pre-validate your bank account. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}This story originally appeared on: India Times - Author:Faqs of Insurances
