Refunds amounting to Rs. 26,242 crore issued since 1st April 2020 by Income Tax Dep.
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16, 84,298 assesses since 1st April, 2020 to 21st May, 2020.
Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15, 81,906 assesses and corporate tax refunds amounting to Rs. 11,610 crore have been issued to 1,02,392 assesses during this period.
It is stated that the refund process has been further expedited and refunds are being issued at a greater pace since the Union Finance Minister Smt. Nirmala Sitharaman’s announcement made in the AatmaNirbhar Bharat Abhiyan last week. CBDT has released a sum of Rs. 2050.61 crore in the previous week ended on 16th May, i.e., between 9th to 16th May, 2020 to 37,531 income tax assesses and a sum of Rs. 867.62 crore to 2878 corporate tax assesses. During this week, i.e. between 17th to 21st May, 2020, yet another 1,22,764 income tax assesses were refunded Rs. 2672.97 crore and 33,774 corporate tax assesses including trusts, MSMEs, proprietorships, partnerships, etc. were issued refunds worth Rs. 6714.34 crore, taking the total amount refunded to Rs. 9387.31 crore in the case of 1,56,538 assesses.
What to do if you have not received Refund in Income Tax?
Once you have filed your ITR and verified it, the status of your tax return will be shown as ‘Return Submitted and verified’. However, even after a long period of time if your ITR is not processed by the tax department, then you can raise a grievance for the same. Follow the steps below to raise the grievance
In case your Income Tax Return has not been processed yet. Once the return is processed you may receive a Refund (if determined). To check the status of your e-Filed IT Return, login in the Income Tax e-Filing website and go to ‘My Account’ → ‘My Returns/Forms. If it is not processed you can raise grievance as per below process
What is process to Submit Grievance for Not Receiving Refund?
- Visit the URL https://www.incometaxindiaefiling.gov.in/home
- In your login Go to ‘e-Nivaran’>>’Submit Grievance’
- Fill in the details, attach documents as per files selected for upload and fill in the ‘Grievance Description*’ click on ‘Preview and Submit’ to preview and submit grievance
- You can Submit grievance for non-processing refund and for not receiving refund even if it is processed
How long does it take for reissue of refund?
As per the procedure, the Income Tax Department processes the refund only after processing your ITR. Generally, it takes 30-45 days from the date of e-verification of your Income Tax Return to get your refund credited. However if your refund amount is more than a 1 Lakh, it takes more time from CPC to verify the return data. Some time it even take more than 6 months to 1 year, in such cases it is advisable to raise grievance on Income Tax E Filing Website as per the process above mentioned
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