The Income Tax (IT) department recently said it issued refunds of over Rs 1.29 lakh crore in 8 months of the current fiscal year. This includes refunds of Rs 16,691.50 crore to 79.70 lakh taxpayers for the 2021-22 assessment year.
So what should they do if this is the case?
The answer to this question is, they must submit the correct bank account number after selecting a refund reissue option.
And here are the steps to follow to request a refund reissue:
Log on to www. Incometax.gov.in
2nd step: Go to “Services” and select “Refund reissue”.
Step 3: Select “Create a refund reissue request”
Step 4: Select the record for which the refund request must be reissued
Step 5: Select the bank account the taxpayers wish to receive the refund to.
Step 6: Click on the “Proceed to verification” button
A refund is given to a taxpayer when the taxes paid exceed the actual tax obligations. To obtain a refund of excess tax paid, taxpayers are required to file an ITR.
To begin with, taxpayers who have not received the tax refund at all after filing the RTI should check their listed email to see if there is a communication from the Income Tax Department, requesting a response. In this case, it is important to reply to the e-mail as soon as possible.
Taxpayers can also verify this through the National Securities Depository Limited (NSDL) e-governance website.
The Income Tax Department (IT) has allowed taxpayers to claim any overpayment of tax for the 2020-2021 fiscal year by filing an income tax return before December 31, 2021 without any penalty.
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(Edited by : Aditi Gautam)