Every year, taxpayers file their income tax returns with the hope of receiving a tax refund. If the amount paid in taxes exceeds the actual tax liability, individuals are eligible for a refund.
The process of claiming refunds has become smoother over the years, due to technological advancements.
In this article, 2YoDo will give a step-by-step guide to checking income tax refund status and on the timeline for taxpayers to expect their refunds.
How to Check Income Tax Refund Status?
Follow These Steps :
- Go to the official income tax e-filing portal.
- Now Log In with your User ID, Password, Date of Birth/Date of Incorporation, and enter the Captcha to log in to the e-Filing website.
- When logged in, locate the “My Account” section, where you will find various options related to your tax filings.
- In the “My Account” section, select “Refund/Demand Status” to proceed with checking the status of your refund.
- From the drop-down menu, select “Income Tax Returns” and click on “Submit.”
- Find and click on your acknowledgment number corresponding to the financial year 2022-23. (For this financial year, the assessment year is AY 2023-24).
- After clicking on your acknowledgment number, a new webpage will appear, providing you with a comprehensive overview of your file income tax return (ITR). This information includes the date of filing the ITR, processing status, and the date of refund issuance.
By following these simple steps, you will have access to detail information about your ITR filing and the status of your tax refund.
Timeline of ITR Refunds
When the Income Tax Return (ITR) has process, the Centralized Processing Center (CPC) endeavors to process your tax refund within 20 to 45 days.
With technological advancements, the average processing time for refunds has significantly decrease, making it faster and more efficient.
So, it is essential to note that the timeline for receiving a refund may vary based on individual cases and circumstances.
Filing income tax returns is an essential obligation for taxpayers, and claiming a tax refund is a well-deserve reward for those who have paid more in taxes than their actual tax liability.
With the ease of online processes and the Income Tax e-Filing Portal, individuals can now check the status of their income tax refund.
As the Income Tax Department continues to embrace technology, taxpayers can expect quicker and more streamline processes, ensuring a smooth and efficient experience for all.
