Filed your ITR but did not get your income tax refund yet? For many taxpayers, one of the most satisfying moments after filing an Income Tax Return (ITR) is seeing the refund credited to their bank account.
However, not every tax refund is processed immediately.While some taxpayers get their refunds quickly others have to wait a little longer. However, there are some delays which may require taxpayer to act. Experts say there is usually no need to panic. Understanding your assessment or tax refund status and knowing when to act can help avoid unnecessary delays.
How long does an income tax refund usually take?
Many taxpayers assume that filing and e-verifying an ITR guarantees a tax refund within a few days.
In reality, refund timelines vary.
Most refunds are processed within two to six weeks, provided the return has been correctly filed and e-verified, according to Abhishek Soni, CEO, Tax2win.
“While some taxpayers may receive their refunds within a few days, this is not the norm", he says.
If there is no update even after 30 to 45 days, taxpayers should log in to the Income Tax e-filing portal and check the refund status.
How to check your income tax refund status online
The easiest way to track the status of your tax refund is through the Income Tax Department's e-filing portal.
After logging in, taxpayers can navigate to 'e-File' > 'Income Tax Returns' > 'View Filed Returns' and select the relevant assessment year.
