6 Reasons Why Income Tax Refund Could Be Delayed




6 Reasons Why Income Tax Refund Could Be Delayed



           
1.    Last minute filing
2.   Paper-based verification of ITR
3.   Mistakes in the tax-filing
4.   Mis-matchwith form 16 and 26AS
5.   Incorrect bank account details
6.   Not verifying online


However, if you do not get any status update, you may wait for at least two months before you act. "In case of a delay in the processing of ITR and refund, a taxpayer can submit a grievance through e-Nivaran Form under their e-filing account and seek a resolution from CPC-ITR under the grievance category 'Processing'



5



Comments

Post a Comment

Popular posts from this blog

Future and options : Everything an F&O Traders should know about Return Filing

Image
Future and options : Everything an F&O Traders should know about Return Filing : 1.How to calculate turnover in F&O: The turnover in case of Futures and Options transactions is calculated as follows a. The sum of favorable and unfavorable differences shall be taken as turnover. Aggregate of both positive as well as negative differences will be taken together to calculate turnover in case of derivatives, futures & Options transactions. Or in other words both profits and losses will be added to calculate the turnover. b. Premium received on sale of options is also to be included in turnover. c. In respect of any reverse trades entered, the difference thereon, should also form part of the turnover. 2. Allowed Expenses under F&O: a. Brokerage, b. broker’s commission, c. subscriptions to journals related to trading, d. telephone bills, internet costs, e. consultant charges if you engaged a person or took advice from a professional who charged you. Or salary of a person...
Read more

House loan interest deduction up to 3,50,000

Image
Get House loan interest deduction up to 3,50,000               अब मिलेगी 3,50,000 तक की छूट    Budget 2019, Save Tax Up to Rs 109200  HousingLoan Deduction, Increased From 200000 to 350000 1)      The union budget 2019 has introduced a new section 80EEA to extend the tax benefits of the interest deduction up to Rs 1,50,000 Analysis if both Sec 24 and Sec 80 EEA is Availed Tax Slab Exemption Amount Tax Component Cess @ 4% Total tax Saved 5% 350000 16500 700 17200 20% 350000 70000 2800 72800 30% 350000 105000 4200 109200 Analysis of New Section 80 EEA if Availed Tax Slab Exemption Amount Tax C...
Read more

What is e assessment scheme for faceless scrutiny of income tax

Image
What is e assessment scheme for faceless scrutiny of income tax :  1. Under the scheme, the scrutiny notice will be issued to the individual under section 143(2) if he has under-reported his income or over-stated losses. 1:28 . The individual will have to reply within 15 days from the date of receipt of notice. The notice issued will be sent electronically on the taxpayer's account on the e-fling website, to the registered email address of the taxpayer or on the mobile app of the income tax department which has the registered mobile number. 2:02 Individual will be required to respond to the notice or order received through the registered account only. The response shall be considered successfully submitted once individual has received the acknowledgement from the National e-assessment Centre. tax deduction  2:50  Individual taxpayers would not be required to appear either personally or through authorised representative in relation to the proceedings rela...
Read more