Income Tax Refund Status: An income tax payer is eligible to claim a refund if he has spent more than the actual income tax on his arrival. This income tax return or ITR refund can be claimed by his employer on higher TDS deduction, or additional TDS deduction can be claimed by the bank on his accumulated interest income, higher advance tax payments, etc.
Speaking on how an earning person becomes eligible for income tax refund; Jitendra Solanki, SEBI registered tax and investment expert said, “There is no such ITR form that one can fill and claim income tax refund. An income tax payer has to file his ITR within the due date and get full interest on one Will have to do ITR refund, After that, the Income Tax Department will review its income for the assessment year and if it finds any additional TDS deduction or higher advance tax payment, it will automatically refund the excess payment to the taxpayers through ITR refund,” he said. That it is important for an earning person to file ITR within the given due date and get refund even if his annual income is less than 2.5 lakhs.
Hence, after filing ITR, one needs to keep checking their ITR refund by logging on to the Income Tax website. Now after the installation of the new Income Tax Portal, one can log on to the new Income Tax e-Filing Portal- incometax.gov.in/iec/foportal and check the status of his/her Income Tax Return.
How to check ITR refund status online on the new income tax e-filing portal
As mentioned above, an income tax payer needs to login to the new income e-filing portal and follow the step-by-step guide given below:
1]Login to the new Income Tax e-filing portal – incometax.gov.in/iec/foportal;
2]Login using your ID, Password and Captcha;
3]Select ‘View Return / Form’;
4]Then select ‘Income Tax Return’ from the Select an option from the drop down menu;
5]Enter the relevant income tax assessment year;
6]Click on ‘Submit’ option; And
7]Select the acknowledgment number from the drop down menu.
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