The most common grievance of taxpayers is late or non receipt of income tax refunds. Whether it’s the Income Tax Department’s lethargy or the growing number of tax payers, delayed refunds remain high on the list of complaints against the department. The taxpayers normally have to face lots of trouble in getting refund from the Income Tax Department. Delay in refund may be caused due to errors regarding PAN, Address, bank account details or tax payment details while filing the return of income. If any discrepancies are found in the filed return, the same has to be rectified. For getting the pending refund, a letter to the concerned assessing officer is required to be filed along with the related documents. In case you have received the refund cheque after the expiry period, you are required to apply for revalidation of the same. If there is change in your address or bank account details, do inform the tax department for keeping yourself away from any such difficulty. However, if you have not received refund or there is delay in getting refund, the income tax department will liable to pay interest for delay payment of refund @ 0.5% per month or part of month. The department also provides facility of checking the status of your refund online on the income tax website. The process of getting refund has become a big challenge for any taxpayer due to it being so lengthy and time-consuming process. Taxmantra.com with its expertise in handling individual taxation is willing to help you in solving all your tax issues. Taxmantra.com also provides comprehensive tax planning and Tax support in addition to filing of return of income. Please contact us immediately. Alok Patnia Founder and Director at www.taxmantra.com
Get Income Tax Refunds from IT Department
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The most common grievance of taxpayers is late or non receipt of income tax refunds. Whether it’s the Income Tax Department’s lethargy or the growing number of tax payers, delayed refunds remain high on the list of complaints against the department. The taxpayers normally have to face lots of trouble in getting refund from the Income Tax Department. Delay in refund may be caused due to errors regarding PAN, Address, bank account details or tax payment details while filing the return of income. If any discrepancies are found in the filed return, the same has to be rectified. For getting the pending refund, a letter to the concerned assessing officer is required to be filed along with the related documents. In case you have received the refund cheque after the expiry period, you are required to apply for revalidation of the same. If there is change in your address or bank account details, do inform the tax department for keeping yourself away from any such difficulty. However, if you have not received refund or there is delay in getting refund, the income tax department will liable to pay interest for delay payment of refund @ 0.5% per month or part of month. The department also provides facility of checking the status of your refund online on the income tax website. The process of getting refund has become a big challenge for any taxpayer due to it being so lengthy and time-consuming process. Taxmantra.com with its expertise in handling individual taxation is willing to help you in solving all your tax issues. Taxmantra.com also provides comprehensive tax planning and Tax support in addition to filing of return of income. Please contact us immediately. Alok Patnia Founder and Director at www.taxmantra.com