How to get your pending Income Tax Refund

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Income Tax Refund Delay: This presentation explains What should you do when your pending income tax refund is delayed & ways to avoid this delay.

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Presentation Transcript

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How to get your pending Income Tax Refund C Axis Bank Ltd.

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PENDING TAX REFUND • Waiting endlessly for tax refund that is rightfully yours can prove to painful. • Having been a good citizen and having complied with the law of the land dutifully you are right in expecting that you are treated fairly by the department. • And the least courtesy that they can show towards a diligent tax payer is to refund his money quickly and in a hassle free manner. • While your complaint is fully understandable an objective analysis of the situation would help. C Axis Bank Ltd.

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Steps the Income Tax Department has Taken Sensitive to the agony of the tax payers the Income tax IT department has taken a few steps to make life easier for the tax payer. C Axis Bank Ltd. Centralized return processing: •Earlier the returns were processed at the local IT office and refunds were issued from there. •Now the same is mostly being carried out at the Centralized Processing Centre CPC Bangalore and refunds arranged from there. •This has resulted in streamlining of the return processing and refund process. Refund Banker Scheme: •Introduced in 2007 SBI Mumbai is mandated to handle the refunds centrally and the amount may be credited to your bank account through RTGS/ECS or sent by cheque. •This has simplified the process and also quickened it. Facility to check refund status: •The department has enabled you to check online the status of your refund. •You may visit https://tin.tin.nsdl.com/ oltas/refundstatuslogin.html

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Ways to avoid delay in Income Tax Refund Few steps to avoid or minimize the delay in Income Tax Refund: C Axis Bank Ltd. Ensure taxes are correctly credited to you: Quite often the tax payments claimed by you may not match with the records of the department. Periodical reconciliation of the same and immediate steps to set right any differences would ensure full credit of your taxes. Ensure correct account number: If the wrong account number is mentioned in your return your refund may get delayed as result. Submit ITR V on time: Ensure that the acknowledgement ITR V for submission of your tax return has been forwarded to the CPC within the specified time. Unless this is done your tax return may be considered as not filed.

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THANK YOU Visit www.itsallaboutmoney.com to know more. TC Apply C Axis Bank Ltd.

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