Income tax refund: Here are four easy steps to check the status in less than five minutes

If you have filed your ITR (income tax) returns, you probably might have got the Intimation 143(1) letter. Simply put, it is a letter generated after the comparison between data provided by you in return filing and the record available with CPC. The letter might state anyone of the following details.

1)No demand no refund: Simply put, it means you neither have any tax payable nor do you have any refund to collect.

2) Demand determined: This simply means, there is an interest or tax is found payable by you.

3) Refund determined: Here an interest or tax is found refundable and will be returned as a refund by the Income Tax department.

If you are eligible for a refund, you should have ideally got it by now. If you still haven’t you can check for the status of the same, in a few steps.

Step 1: Visit the Income Tax Department website

Step 2: Click “Check Refund Dispatch Status” under Services option on the lower left side of the homepage.

Step 3: You will get a pop-up window which will give you three options. 1) Continue to NSDL website. 2) Login to e-filing and 3) Cancel. Choose the NSDL window option. On clicking here you will be navigated to the Tax Information Network website maintained by NSDL for displaying the status of the refund.

Step 4: You will be directed to a web page where in you will be required to fill in your PAN number. Assessment Year, you need to check the refund for. Once you go through the captcha verification, you will get the refund status.

Important things to remember:

Keep in mind, your refund is given to you as per the ‘Refund Banker Scheme’. According to the income tax website, in the ‘Refund Banker Scheme,’ the refunds generated on the processing of Income-tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers. You get your refund either via NEFT or paper cheque, depending on the option you had chosen.

Your refund status could be any one of the following

1)Not determined: This means that your Income-tax Return is still not processed.

2) Refund paid: If you have not received the refund yet, check with your bank whether you have chosen for NEFT payout option or requested for a cheque in a local post office, while filing the ITR form.

3) Assessment Year not displayed in refund / demand status: This means you have missed filing your returns and need to do so immediately.

4) No demand no refund: There is no refund which is due to you.

5) Refund unpaid: The tax department may have paid the refund but failed to reach you due to some errors. You need to login into the Income Tax department site and fill in a request refund reissue form.

6) ITR processed refund determined and sent out to refund banker: This means your refund is generated. The details have already been sent to the refund banker for processing the same. You need to check the refund status in a few days.


Source by firstpost..