Income Tax Refund: After filing and successfully e-verifying an Income Tax Return (ITR), taxpayers generally wait for their refund to arrive in their bank account. In many cases, the Income Tax Department processes refunds within around four to five weeks after e-verification. However, a refund can sometimes get delayed or fail because of errors in the return, incorrect banking information or incomplete verification.
If you claimed a refund before July 31 and the department shows that it has been processed but the amount has not reached your bank account, here are some important things you should check.
Check Your Income Tax Refund Status
The first step is to find out the exact status of your refund on the Income Tax e-filing portal.
- Log in to the Income Tax e-filing website.
- Go to e-File > Income Tax Returns > View Filed Returns.
- Choose the relevant Assessment Year.
- Click on View Details to check your return and refund status.
The portal may show statuses such as Refund Issued, Refund Partially Adjusted, Refund Adjusted, Refund Fully Adjusted or Refund Failed.
Remember, receiving a notification that your refund has been processed does not necessarily mean that the money has already been credited to your bank account.
What to Do If the Refund Has Not Reached Your Account
If the portal shows that your refund has been issued but you have not received the amount, check whether the bank account details provided in your ITR are correct.
A valid and properly verified bank account is required for receiving an income tax refund. Taxpayers can add a bank account through the e-filing portal and complete its validation to avoid payment-related problems.
Why Can an Income Tax Refund Fail?
There can be several reasons behind a failed refund. Some common causes include:
- Bank account not being successfully verified
- Difference between the taxpayer’s name and bank records
- Incorrect IFSC code
- Closed or inactive bank account
- Problems with the PAN-bank account linkage
- Aadhaar-related linkage or validation issues
Therefore, taxpayers should carefully review all the information associated with their bank account.
Re-Validate Your Bank Account
Taxpayers can check their banking information by visiting the My Bank Account section on the Income Tax portal.
If an earlier validation attempt failed, correct the relevant details and submit the account for re-validation. Pay particular attention to the account holder’s name, PAN-bank linkage, account number and whether the bank account is active.
DA Hike: What Happened in the Latest Cabinet Meeting?
DA Hike: Central government employees are waiting for an announcement regarding the next Dearness Allowance (DA) instalment for the July-December period. With Cabinet meetings being closely watched, employees are particularly interested in whether any decision has been taken on the expected DA revision.
Prime Minister Narendra Modi chaired the Union Cabinet meeting on Wednesday. However, the key decision announced at the meeting was related to major railway infrastructure projects.
Cabinet Approves Three Railway Projects
The Union Cabinet approved three multi-tracking railway projects proposed by the Ministry of Railways. The combined estimated cost of these projects is ₹10,783 crore.
The approved works include:
- A fourth railway line between Kharagpur and Jharsuguda
- A fourth line between Katni and Pendra Road
- A third line between Bilaspur (Uslapur) and Pendra Road
The projects will pass through 14 districts spread across West Bengal, Jharkhand, Odisha, Madhya Pradesh and Chhattisgarh.
Together, they are expected to add approximately 656 kilometres to the railway network.
How Will These Railway Projects Help?
The government expects the projects to improve rail connectivity for nearly 4,790 villages and benefit around 56 lakh people.
The expanded railway network is also expected to improve access to important tourist locations and make it easier to transport key commodities, including coal, cement, iron and steel.
Once completed, the additional railway capacity is expected to support around 27 million tonnes of additional freight movement every year.
The projects are also projected to provide environmental benefits. According to the estimates, improved rail transportation could reduce oil imports by nearly 120 million litres and lower carbon dioxide emissions by approximately 620 million kilograms.