When you place an order, there’s that excitement of tracking it’s arrival. Waiting for your income tax refund is pretty much the same feeling.
But before you get ahead of yourself, let’s first see if you’re eligible for a refund.
If your TDS deductions or advance tax payments exceed your tax liability for the financial year, you’re in line for a refund. This excess amount is called an income tax refund.
When will I get ITR refund?
After you file your ITR, the Income Tax Department will process it. If you’re eligible for a refund, it is typically issued within 2 to 4 weeks.
However, the timeline can vary depending on factors like the complexity of your return, discrepancies, or pending verifications.
If you want to see where your refund stands, here’s how you can track it.
Steps to check your ITR refund status:
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Log in to Income Tax Portal
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Navigate to e-File > Income Tax Returns > View Filed Returns
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You’ll see the current status of your refund here
You’ll also see the acknowledgment number, it’s a unique reference for your return that can help track your refund or resolve any discrepancies related to your filing.
What if the ITR refund is delayed?
While most refunds are processed within a few weeks, there can sometimes be delays. To know the reasons behind the delay, check out our detailed post here.
Also, one common reason ITR refunds get delayed is not pre-validating your bank account. So you need to pre-validate it to get your refund on time.
If you have any questions, we’re here to help!