Q. What’s next after E-filing Income-tax Return?
Once you E-file income tax, an acknowledgement will generate calls ITR-V. Sign it and send it to CPC, Bangalore. Once the ITR-V is received by CPC, they will process your return and any applicable refunds.
Q. What is meant by Income Tax Refund?
It is a payback to individual from the Government who has paid excess taxes. It mostly occurs when employers deduct access taxes from the salary.
Q. What are the prerequisites for income tax refund?
Filing income tax return is must to get a refund on access tax paid and the reason for paying access tax must be genuine.
Q. Who can claim a refund?
Refund can be claimed by the taxpayer only and no one else can pay for him/her. If the taxpayer is not able to pay taxes due to physical inability or death, then his/her legal representative/trustee/guardian/legal heir can claim the refund.
Q. How to claim refund?
Refund can be claimed by filing income tax return. If anyone forgets to claim return during tax filing then it can be done by revising the income tax return.
Q. Do refunds come with receivable interest?
For a particular financial year, if the amount of refund is more than 10% of the total tax paid then it does come with a simple interest.
Q. Do I have to pay tax on the amount of the refund received?
The refund amount is never taxable but if the refund comes with an interest than the amount of interest is taxable.
Q. How can I check the status of a refund?
Log into Government website or into our website and check refund status from the “account” tab. In the account tab, click on “Refund status”.
Q. What to do if refund cheque is pending due to incorrect details?
In this case, you can submit a refund re-issue request by logging into your All India ITR account. Under the account tab, click on “Refund Re-issue Request” and select the Assessment Year. You will have to enter the CPC number as well and then click on “Validate” button.
Q. How to assure if refund re-issue request is sent or not?
Log into your user account and go to “My request list”. Under that label, click on “Refund Reissue Request” and it will display the status of your request.
Q. Can a refund be credited directly to my account?
Yes, it will be deposited to your primary bank account which you have selected from all the given bank account of yours.
Q. Can the refund be set off against some other payment?
Yes, the assessing officer can adjust the amount of refund to set off any pending payment from last years.
Q. What I need to do if my my processed e-return is raising a demand or with less refunds?
For the current financial year, if the processed return is still with CPC than rectification can be done by making an online rectification application. If the e-return has been handed over to an Assessing Officer then you will need to make a paper application to the AO.
Q. My refund is still not processed. How do I escalate this?
First, check if your ITR-V is verified or not as refund will not be processed for unverified ITR-V form. If the form is verified then contact CPC on toll-free 1800 4250 0025 or 080 2650 0025.
Q. How to get the refund cheque in case of delivery address change?
In such instances, you will have to contact your Assessing Officer (AO) in writing to request to send the refund cheque to your new address. If you had E-file your IT return, then contact CPC on 1800-425-2229 to get assistance with address modification.