People who file income tax return and have claimed income tax refund in their Return of Income, often ask this question from Chartered Accountants as to how much time it takes to get income tax refund in India? Other related questions in this regard frequently asked by the taxpayers are given below. We will discuss about all these questions commonly asked by the people in this article:
Other Related Questions:
How many days it will take to get refund from income tax?
How long does it take to get tax refund 2022?
How can I get my income tax refund faster in India?
Why is my refund delayed 2022?
How do I track my ITR refund?
How do I check my refund status 2022?
Process of Income Tax Refund:
Income tax refunds are a common expectation for many taxpayers in India. However, the question on many taxpayers’ minds is, “how long will it take to receive my refund?” The answer to this question can vary depending on a number of factors, including the type of return you filed and how promptly you filed it. In this article, we will discuss the various factors that can affect the time it takes to receive your income tax refund in India.
The first factor that can affect the time it takes to receive your income tax refund is the type of return you filed. If you filed a paper return, it may take longer to process than if you filed an electronic return. This is because paper returns require manual processing, while electronic returns can be processed quickly and efficiently.
The second factor that can affect the time it takes to receive your income tax refund is how promptly you filed your return. If you filed your return on or before the due date, it is likely that your refund will be processed in a timely manner. However, if you filed your return late, it may take longer to process.
The third factor that can affect the time it takes to receive your income tax refund is whether or not there are any errors or discrepancies in your return. If there are errors or discrepancies in your return, it will take longer to process and your refund may be delayed.
The fourth factor that can affect the time it takes to receive your income tax refund is the workload of the income tax department. If the income tax department is experiencing a high volume of returns, it may take longer to process your refund.
The fifth factor that can affect the time it takes to receive your income tax refund is the mode of receiving refund. If you have chosen to receive refund in your bank account then it will take lesser time compare to cheque.
In conclusion, the time it takes to receive your income tax refund in India can vary depending on a number of factors, including the type of return you filed, how promptly you filed it, whether or not there are errors or discrepancies in your return, the workload of the income tax department and mode of receiving refund. Generally, if you file your return on time, and there are no errors or discrepancies in your return, you can expect to receive your refund within 4-6 weeks.
You can track ITR refund status online on the income tax e-filing website as per the steps given below:
- Go to Income Tax Website: Home | Income Tax Department
- Login to your account using your USER ID, which should be your PAN number, the password, and the captcha code.
- Go to the “View Returns / Forms” tab.
- On this page, look for the ‘Select An Option’ and then click on ‘Income tax Returns’ in the drop-down menu.
- Fill in the assessment year and then submit.
- Click on the relevant ITR acknowledgment number to check your ITR refund status.
