If you have paid excessive tax to the government than what is due, you can request an Income Tax Refund. The term ‘Tax Refund’ is defined as a repayment to a taxpayer when his/her tax paid to the government exceeds the actual liability. There can be many reasons behind tax overpayment such as excessive tax deductions, taxpayer errors, availability of withholding tax credits, overpayment of advance tax, etc. In such a case, a taxpayer has every right to request a tax refund. Important details regarding the ITS Refund Status for AY 2024-25 including how to check the income tax refund credit are discussed in this post.
ITR Refund Status for FY 2024-25
When the government provides an amount of money to a taxpayer for overpaying the taxes than the actual tax owed in a financial year, it is termed an Income Tax Refund. For instance, if you have paid RS 20,000 in taxes in a financial year but your actual tax liability is RS 15,000, then the government will provide you a tax refund of RS 5,000. If you have overpaid taxes during the financial year, then you need to file the income tax returns before deadline. In case the income tax department finds an overpayment in your taxes, your refund will be shortly processed to your bank account.
The Income Tax Department of India provides several facilities to check the ITS Refund Status for FY 2024-25. To check your income tax refund status, a taxpayer is required to e-verify their tax returns. If a taxpayer is unable to do so, their returns will be considered invalid by the department. There are several ways to e-verify your ITR that you can choose. However, if you do not wish to e-verify your tax returns, you have the option to verify them by sending a physical copy of the ITR. After that, your income tax refund will be deposited within 4 to 5 weeks.
ITR Refund Status for FY 2024-25 Quick Overview
| Post Title | ITR Refund Status 2024-25: How to Check Income Tax Refund Credit |
| Country | India |
| Department | Income Tax Department |
| Governed by | The Central Government of India |
| Financial Year | 2024-25 |
| Refund deposit date | Within 4 to 5 weeks |
| Last date to file income tax return | 31st July 2024 |
| Refund procession | Via direct deposit |
| Year | 2024 |
| Official website | incometax.gov.in |
How to Check ITR Refund Status for FY 2024-25?
After you have filed your income tax refund, the income tax department offers certain facilities to check the ITR Refund Status for FY 2024-25. A taxpayer can check their tax refund status via two methods. (i) Through an e-filing website and (ii) through the TIN NSDL website. You can check the step-by-step guide on how to check ITS refund status via the e-filing website or the TIN NSDL website mentioned in the following points:
Through the E-Filing Website:
- Step 1: Visit the official website of the e-filing portal.
- Step 2: After reaching the homepage, log in to the portal by using your PAN (Permanent Account Number) / Aadhar number.
- Step 3: After that, a captcha code will be displayed on the screen.
- Step 4: Enter the captcha code in the given section.
- Step 5: On reaching the new page, select ‘e-file’, then select ‘income tax returns’.
- Step 6: After that, simply click on the ‘View Filed Returns’.
- Step 7: Your ITR Refund Status for FY 2024-25 will be displayed on the screen.
Through the TIN NSDL Website
- Step 1: Visit the official website of the TN NSDL
- Step 2: Enter your PAN after reaching the homepage of the website.
- Step 3: Enter the assessment year in which you want to see your ITR refund status.
- Step 4: Enter the captcha code in the given section if asked.
- Step 5: Click on the submit button and your refund status for the 2024-25 financial year will be displayed on the screen.
How to Apply for ITR Refund Reissue for FY 2024-25?
Usually, the Income Tax Department of India deposits the income tax refunds within four to five weeks of the processing. The tax refund is directly deposited to the bank account of the taxpayer. However, there may arise certain instances which can delay your tax refund deposit. For instance an error while filing tax returns. In such a case, you can request an income tax refund reissue to the income tax department. For that, the step-by-step guide is mentioned in the points listed below:
- Step 1: Visit the official website of the Income Tax Department of India.
- Step 2: After reaching the homepage, use your user ID and password to log in to the portal.
- Step 3: A new page (dashboard) will be displayed after logging in to the portal.
- Step 4: On the dashboard, look for the services tab and refund reissue and click on it.
- Step 5: On clicking the refund reissue option, you can see a window showing a tab refund reissue.
- Step 6: Click on the refund reissue tab that is displayed on the screen.
- Step 7: After that, you will be directed to the refund reissue page. On reaching the page, you are required to create a refund reissue request.
- Step 8: Select the bank account in which you want your ITR refund to be deposited by the department.
- Step 9: On selecting the bank account, you will be directed to the verification stage. For that, you must generate an OTP to the mobile number registered to your Aadhar.
- Step 10: Once the OTP is generated, enter the code in the provided section and simply click on submit.
For more information regarding the ITR Refund Status for FY 2024-25, you can also visit the official web portal of the Income Tax Department of India.
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