CA Chirag Chauhan
Many people are not aware about that their Income Tax Refund status. The Refund status can be easily ascertained online with a few simple and easy steps. The âRefund Banker Scheme’, which was first introduced by the Income Tax Department in Jan 2007, can be used by tax payers all over the nation to view the exact status of their refunds on line at the site. The only requirement is PAN No to view the status.
MODES OF REFUND
Tax refunds whenever applicable is made in 2 different means to all the tax payers:
In order to enable direct credit of the refund amount to the bank account of the tax payer, the taxpayer’s correct bank A/c (at least 10 digits), MICR/ IFSC code of the bank branch and required communication address is mandatory.
The standard paper cheques wherever issued require the current bank account no and the correct address of the tax payer as mandatory information.
CHECKING STATUS ONLINE
One needs to do is to enter the PAN number and the assessment year on the below mention link site to access the current position of the tax refund.
This simple task can be achieved through 2 easy steps:
Log into https://tin.tin.nsdl.com/oltas/refundstatuslogin.html and enter your PAN and assessment year. Then click on Submit button.
The same can also be checked through the toll free number of SBI help desk at 18004259760 or even through email to firstname.lastname@example.org or email@example.com or even you can call helpline centre if IT department 18001801961 or 18004252229
TYPES OF STATUS ONLINE
While checking your refund status online you are likely to see several kinds of status messages on the website. Below are some of the common types of status messages that may appear at the website. Other status messages depending on the actual state of processing and disparities noticed by the department may also appear. The assessee has the right to appeal and notify the department in case of any discrepancies noticed at the status on the website for further action.
If the refund has already been credited to your bank account by NEFT / CHEQUE. You need to check that you have receive the refund else you need to immediately follow up in case you have not received.
In cases where the AO has not processed your return. No status change will be displayed. Only following message will be shown âYour assessing officer has not sent this refund to Refund Banker orÂ If this refund has been sent by your Assessing Officer within the last week, you may wait for a week and again check statusâ
CHANGE OF ADDRESS:
Incase the address of the assessee has changed and same has not been notified to the Income Tax Department through the online registration system, the refund cheque normally returns back and this is reflected in the status at the website. Such cases of cheques are quite common despite the fact that the refund cheques are dispatched on time by the department.
CHEQUE ENCASHED STATUS:
If the assessee has received the refund cheque and has encashed it then the status at the website will reflect the same. However in case the cheque has actually not been encashed but is being reflected as so at the website then one needs to immediately inform the department
IMPORTANT POINTS TO BE NOTED
There are a few points that one needs to understand while checking tax refund status online:
For any query you can write to Chirag@cachauhan.in . Before making any decisions do consult your Professional / tax advisor.Â Author does not take any responsibility for misrepresentation or interpretation of act or rules. Neither the author nor the firm accepts any liability neither for the loss or damage of any kind arising out of information in this document nor for any action taken in reliance there on.