Income Tax Refund: Filed ITR but not get refund yet? You might have made 'these' mistakes
By Lokmat English Desk | Published: July 12, 2023 04:31 PM2023-07-12T16:31:51+5:302023-07-12T16:31:51+5:30
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Income Tax Refund Status: The last date for filing Income Tax Return (ITR) (July 31) is approaching. If you haven't filed yet, do so as soon as possible. Due to increase in traffic in last days you may face problems. Meanwhile, the Income Tax Department informed
Many of you must have filed ITR and many have also received refund. But, if you haven't received your refund, this news is important for you. A small mistake on your part may cause difficulties in getting a refund. Hence it is necessary to cross check once. inside
1. Incomplete information in ITR- If incomplete information is given in your ITR, your refund may be stopped. For this you can check ITR preview. After this you can contact your Assessing Officer with other information and documents.
2. Tax outstanding- You may get income tax notice if you have not paid any tax or there are some errors in your calculations. Any refund you may receive may be stopped by the Income Tax Department on receipt of notice.
3. Mistake in refund request- You may get a notice from the Income Tax department if any kind of mistake is found in your refund request. In such a case, if your calculation is wrong, you have to file a rectification ITR.
4. Glitch in Deduction- Often this matter is understood after filing ITR. After filing ITR you see error regarding deduction. In such a case if you have not claimed the correct deduction, you will have to file an amended ITR.
5. Wrong Bank Account- If you have entered wrong details of your bank account, your refund may be stopped. You need to have correct bank account information for returns.
