Income Tax filing season is on now, taxpayers have already start filing their Income Tax Returns online. The late date for filing Income Tax Returns for Financial Year 2022-23 is 31st July 2023.
If you fail to file your income tax return within the specified date, you will have to pay a penalty while filing Income Tax return.
When you have file Income tax Return, refunds are process within 20-45 days by the Income Tax department.
So, you need to check from time to time to know the status of your tax refund from the Income Tax department.
How to Check ITR Refund Status Online?
Follow These Steps :
- Visit the Income Tax e-filing portal.
- Login using your User ID, password, Date of Birth/Date of Incorporation and Captcha.
- Go to My Account
- Click on Refund/Demand Status
- Your details like Assesment year,status, Reason (For refund failure if any), Mode of Payment is display.
You will need to link your PAN with Aadhaar for filing Income Tax Return.
The Last date for linking PAN and Aadhaar was 30th June, 2023.
If you haven’t link your PAN with Aadhaar within this date, then your PAN will become inoperative and you won’t be able to file IT Return.
You will have to pay a penalty of Rs 1000 for linking PAN with Aadhaar and your PAN will become operative once again within 30 days.
Late filing of Income Tax
If a taxpayer files IT Return later than 31st July 2023, it would be file as a belated ITR.
Now taxpayers will have to give a late fee of filing ITR late.
The penalty is Rs 1000 if your income does not exceed Rs 5 Lakh.
While, if your income exceeds 5 lakh rupees, you will have to pay Rs 5,000 as late fee.
