Refund Status and its Resolution

What is a refund?

A taxpayer who has paid higher taxes to the government in the previous financial year than their actual liability is required to file their income tax return to get eligible to claim the refund of the excess amount paid by the assessee. The excess tax paid by the assessee is done because he pays tax in advance by the name advance tax and it is also paid through the mode of TDS (Tax Deducted at Source) in which he paid the taxes higher than the actual tax liability. This is because during the financial year the tax paid is on an estimated basis, sometimes the amount of tax paid by him is more than actual liability.

The Income Tax Department issues the refund, which is credited in your bank account which you registered on the e-filing portal and selects the account as the primary bank for issuing a refund or they can issue and send a cheque on your mailing address. And if you don’t get it there you can apply a refund reissue let’s check the procedure for that.

Procedure for applying Refund Re-Issue:

  • First, go to the e-filing portal of income tax department (link:https://www.incometaxindiaefiling.gov.in/home)
  • If you are a registered user you can directly login with your credentials otherwise first you have to register yourself on this portal by providing your details required by the department.
  • Once you login to your account then goes to my account option on the top of the portal and when you click a list appears from which you have to choose a refund re-issue request.
  • Now enter all the details required and click on the validate button.
  • After validation selects the mode of refund reissue from the option you have two options either you can opt for a direct refund into a bank account (ECS) or you can choose payment through cheque.
  • Now give all the required bank details in case you choose a refund through ECS and if you choose a cheque option then also provide the address on which the cheque is sent.
  • Now click on the submit button to validate and after validation, a message will be generated.
  • The last step is to verify the process either through electronic verification code (EVC) or by a digital signature certificate (DSC) to complete the process.

Refund Status and Resolution:

The assessee will be notified on the status of their refund status let’s take a look:

  • If the refund status is expired then this implies you have not submitted the cheque issued by the department within 90 days into your bank account. In such case, you have to apply for refund re-issue on e-filing portal
  • If the refund status is refunded returned then this means you provide the wrong bank details or address on which refund is sent and it doest gets delivered to you. In such a case, you should contact your assessing officer.
  • If the refund status is processed through direct credit but failed then this means if a refund for the credit to an account is maintained with SBI had failed. In such a case you have to provide the correct bank account number and IFSC code updates this information with the assessing officer and he will start the process of refund.
  • If the refund status is refund processed through NEFT/NECS but failed then in this case you should verify the details given by you at the time of filing of a return, you should verify the bank account number, amount description, and MISC/IFSC code.

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