1/10
When are you eligible for refund?
After submitting your income tax return (ITR) for the year, if you paid more tax than your actual tax liability, you will be eligible for an income tax refund. However, you won’t get your income tax refund until the IRS department processes your ITR and sends you an intimation notice confirming it. State Bank of India (SBI) processes the income tax refund, which is directly credited to the bank account specified by the taxpayer in his or her ITR at the time of filing. Here are important FAQs as per Tax Information Network of the Income Tax Department
2/10
Whom do I contact if the refund dispatched has not been received?
All Refunds are dispatched through Speed Post for which Tracking number is provided in the refund status track view on TIN. The tax payer can view status of the same on India Post tracking site i.e.www.indiapost.gov.in or contact its local post office with tracking number as displayed on TIN.
Read More: Cost Inflation Index: How it works and how helpful it is in saving tax
3/10
The status on TIN (refund status) shows that refund had been adjusted against outstanding demand of previous year. what does that mean?
This means that Refund for the current year had been adjusted against outstanding demand of previous Assessment year either in-part or in-full. Please verify details from the ECS advice sent by SBI CMP Centre through email or post. Details of the outstanding demand may be obtained from e-filing portal/CPC Bangalore. In case of e-filed returns – enquiry may be made by login into e-filing portal.
4/10
How will the refund be sent to me ?
Depending on the option exercised by the assesse while filing his annual ITR, refund will be made either through electronic mode i.e. direct credit to account or through Refund Cheque. Tax payers are therefore, required to enter correct Account number and IFSC code along with complete address details including PIN code at the time of filing of Return.
Refunds sent through cheques are dispatched to the address as mentioned by the tax payers through Speed Post.
5/10
The refund status shows that the refund had expired. What shall I do?
Refund not presented for payment within the validity period of 90 days is marked as expired and cancelled. Tax payer may raise Refund re-issue request. In case the return was filed electronically- Refund reissue request may be raised online by login into e-filing portal i.e. https://incometaxindiaefiling.gov.in with user ID and password.
In other cases the Taxpayer should contact Assessing Officer under whose jurisdiction the Return was filed for re-initiation of Refund.
6/10
The refund status shows that the refund has been returned. What shall I do?
ECS – The taxpayer may give correct bank details and raise refund reissue at e-filing portal/Assessing Officer.
Paper refund- Tax payer may give correct details about address and raise refund issue request at e-filing portal/Assessing Officer.
Read More: Income Tax Department Notifies Guidelines on New TDS Rule’s Applicability: Know Here
7/10
The tin status (refund status) shows that refund was processed though direct credit mode which had failed?
It means that Refund for credit to account maintained with SBI had failed. Possible reasons may be –
- Account had been closed.
- Operations in the Account had been stopped /restricted /On Hold
- The Account may be Fixed Deposit or Loan of PPF account.
- The Account may be NRI account
- The Account holder may be deceased
- Account details are incorrect
Taxpayer should contact Assessing Officer and provide the correct account number/IFSC /MICR code where Refund is to be credited. After updating Account number/IFSC /MICR code- the Refund will be reinitiated by Assessing Officer. In case the e-filed returns – modification in account details and refund reissue request may be raised online by login into e-filing portal i.e. https://incometaxindiaefiling.gov.in with user ID and password.
8/10
How do I rectify any mistakes in the name, account number printed on the refund cheque delivered to me?
Send the original refund cheque to CMP Operations Centre, State Bank of India, Survey No.21 Opposite : Hyderabad Central University, Main Gate, Gachibowli, Hyderabad -500019 for cancellation of the Cheque (along with a letter informing the mistakes on the refund cheque) and updating cancellation status on TIN. Once the status is updated as returned, Taxpayer may contact Ward Assessing Officer for modification in Name/Account number and re-initiation of Refund.
If, however, the return was filed online, modification in account number and raising of Refund reissue request may be done online by login into e-filing portal i.e. https://incometaxindiaefiling.gov.in with user ID and password.
9/10
The tin status (refund status) shows that refund was processed though necs/neft mode which had failed?
It means that Refund processed through NECS/NEFT mode had failed. Taxpayer should verify the Account number, Account description, MICR/IFSC code given at the time of filing of return. Taxpayer may contact Assessing Officer for modification in account details and re-issue of Refund. In case the e-filed returns – modification in account details and refund reissue request may be raised online by login into e-filing portal i.e. https://incometaxindiaefiling.gov.in with user ID and password.
10/10
I have received the ECS refund advice and tin status of refund is “paid” but my account has not been credited?
Please check the Account number given in the ECS advice sent by CMP Centre carefully. If the Account number, IFSC/MICR code given in the advice is correct-please contact your Branch and enquire about the status of NEFT UTR Number or NECS sequence number as displayed on TIN. In case the account number given is incorrect-please check with your Bank whether the amount had been credited in wrong account. Please send an email to [email protected] for guidance.
