If TDS is deducted more than the tax liability, then you can claim refund by filing ITR. In ITR filing, you have to provide the name of the bank and its IFSC code. By giving both these information, the Income Tax Department will give you a quick and easy refund.
Income Tax Refund: The last date to file income tax return for the financial year 2020-21 is 31 December 2021. If you do not file income tax return by this date, then you will have to pay a penalty) While the Central Board of Direct Taxes has given information by tweeting that, between 1 April 2021 to 20 December 2021, 1.38 crore taxpayers will get Rs 1 lakh 44 thousand crore. Tax refund has been done. If you also want to check income tax refund status. So here we are going to tell you some easy steps.
Refund of 2021-22 assessment year also included – The tax department said about the income tax refund that 99.75 lakh refunds are for the 2021-22 assessment year. The period of this assessment year will end on March 31, 2021. So far, Rs 20,451.95 crore has been issued as refund to 99.75 lakh people.
CBDT issues refunds of over Rs. 1,44,328 crore to more than 1.38 crore taxpayers from 1st Apr,2021 to 20th December,2021. Income tax refunds of Rs. 49,194crore have been issued in 1,35,35,261 cases &corporate tax refunds of Rs. 95,133crore have been issued in 2,11,932cases(1/2)
— Income Tax India (@IncomeTaxIndia) December 22, 2021
The Income Tax Department said in a tweet that for the assessment year 2021-22, so far more than 4 crore people have filed their Income Tax Returns. If you haven’t filed your return yet, file it now.
How to claim TDS refund – If TDS is deducted more than the tax liability, then you can claim refund by filing ITR. In ITR filing, you have to provide the name of the bank and its IFSC code. By giving both these information, the Income Tax Department will give you a quick and easy refund. If you do not have taxable income then you have to apply for lower or nil TDS certificate. You can do this work by filling Form 13 under section 197.
You have to submit this form to the TDS deductor. If you are not earning from the interest of the banks, then you will have to give this information under the 15G form. ITR refund is credited to your bank account within 3-6 months of filing ITR. The tax department takes so much time because it has to do e-verification.
How to Check Your Refund Status
>> First of all go to the new website of Income Tax Department (ITR) http://www.incometax.gov.in .
>> Enter your User ID and Password there.
>> After logging in, you will see the option of e-filing.
>> Now you select Income Tax Returns.
>> After that click on View File Return.
>> After which the details of your ITR will be visible in front.