INSUBCONTINENT EXCLUSIVE:
ITR refund: One can check the status by mentioning the PAN and the relevant assessment year
An
online facility provided by the Income Tax Department enables taxpayers to claim any excess payment of tax
It also enables the income tax assessees to check the status of a refund online, through the e-governance website of National Securities
Depository Limited (NSDL) - tin.tin.nsdl.com
The taxman refunds the excess tax through an electronic transfer or a cheque, depending on the method used by the assessee while filing the
income tax return (ITR), according to NSDL
In case of electronic transfer, the eligible amount is credited directly to the bank account of the taxpayer through a wire transfer
The taxpayer can also check the status of the refund from the NSDL website 10 days after the taxman forwards it to the bank, according to
can check income tax status through the website tin.tin.nsdl.com by entering the Permanent Account Number (PAN) and selecting the relevant
clicking on the "Refund/Demand Status" option under the "My Account" tab
the bank within the stipulated time
The validity of a cheque is 90 days
In such a scenario, the taxpayer is required to request a refund re-issue, according to NSDL.In case the return was filed electronically, a
clearing service), the taxpayer is required to request a reissue by providing the correct bank details.If the refund status mentions that
the refund was processed though NECS/NEFT which failed, the taxpayer is required to verify the account number, account description and the
MICR/IFSC code provided at the time of filing of return
failed.This happens when the credit of refund fails due to a closed account or when the operations in the account are stopped or restricted
It also happens in case of a non-resident Indian (NRI) account or in case the account holder has deceased.Get Breaking news, live coverage,
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