After filing and 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 the refund within around four to five weeks after e-verification. However, a refund can sometimes get delayed because of errors in the return, incorrect bank details or incomplete verification.
If you filed your ITR and claimed a refund before July 31, but the amount has not reached your bank account even though the refund has been processed, take the following steps.
Check Your Income Tax Refund Status
First, log in to the Income Tax e-filing portal. Go to e-File > Income Tax Returns > View Filed Returns.
Choose the relevant assessment year and select View Details to see the latest refund information.
The portal may display statuses such as Refund Issued, Refund Partially Adjusted, Refund Adjusted, Refund Fully Adjusted or Refund Failed. Therefore, receiving a processing notification does not necessarily mean that the refund has already been credited to your bank account.
Check Your Bank Account Details
If the portal shows that the refund has been issued but you have not received the money, carefully check your bank details.
A properly validated bank account is required for receiving an income tax refund. Taxpayers can add their bank account and complete the required validation through the e-filing portal.
Why Can an Income Tax Refund Fail?
A refund may fail for several reasons. These can include an unvalidated bank account, a mismatch in the taxpayer’s name, an incorrect IFSC code or a bank account that has been closed. Problems related to Aadhaar linkage may also contribute to refund issues.
Re-Validate Your Bank Account
Visit the My Bank Account section on the income tax portal and check the current validation status.
If your earlier validation attempt was unsuccessful, correct the relevant details and submit the account for validation again. Check details such as your name, PAN-bank linkage and account number, and make sure the account is active.