Income Tax Refund Update: The process of filing income tax return has gained momentum. As the deadline is getting closer, the number of return filers is increasing day by day. Meanwhile, a good news has come that the Income Tax Department has also started processing the returns being filed. This means that taxpayers have started getting refund money.
Return process of so many people
According to the information available on the portal of the Income Tax Department, so far 11.22 crore individual taxpayers have been registered on the portal. Talking about the current season i.e. assessment year 2023-24, about 1.33 crore income tax returns have been filed so far. Of these, about 1.26 income tax returns have also been verified. The best thing is that so far the Income Tax Department has processed 3,973 verified income tax returns.
Be sure to keep these things in mind
Let us tell you that the deadline for filing income tax returns in the current season is 31 July. This means that you should file your income tax return before 31st July. It is important to know one more thing here that the work does not end just by filing the return, but it is also necessary to verify it. The process of filing the return is completed only after verification. After this, the Income Tax Department processes the return and after getting all the information correct, credits the refund claimed by the taxpayer to the taxpayer’s account.
Check the status of refund in five easy steps (A Step-By-Step Guide To Check Income Tax Refund Status):
Step-1: First of all visit the e-filing portal of the Income Tax Department.
Step-2: Select the Quick Links option.
Step-3: You will see Know Your Refund Status in the dropdown menu, click on it.
Step-4: Now fill the details like PAN number, assessment year and mobile number.
Step-5: An OTP will come on your mobile number. Fill it up.
By doing this, you will know the status of your income tax refund. If there is any discrepancy in the information of your bank, then the error of No Records Found can be found. That’s why it is better that you check your bank details well in advance, so that your refund does not get stuck.
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