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10 common mistakes for not getting timely income tax refund

Many taxpayers who have filed their income tax return and claimed income tax refund are wondering why they have not received their tax refund. If you have filed your return online, you can check your refund status on the income tax portal at incometaxindiaefiling.gov.in

With the introduction of Electronic Clearing Service (ECS) by the income tax department, taxpayer has started getting income tax refund within 10 days to 90 days of filing income tax return.

Here is a list of common mistakes for not getting income tax refund

  1. Non-submission or late submission of ITR-V: You may have filed income tax return, but not sent ITR-V or eVerificaton has not been done.
  1. Your address provided to the IT department is wrong, hence, the cheque has not been delivered
  1. The bank account that you submitted to the IT department has changed or closed, hence, the refund hasn’t reached you.
  1. Incorrect Bank account details provided in the return:
  • The account number provided by you was incorrect
  • The MICR code provided by you was incorrect or not provided
  • The account number provided by you was closed
  • The account description (Savings/current account) provided by you was incorrect
  1. Incorrect address provided in the return: 
  • Refund cheque will not be delivered if the address provided in the return is incorrect or the concerned party was not available at the address provided.
  • Address provided in the return is a foreign address.
  1. Quoting of wrong TAN: It may have happened that while filling income tax return, you might have quoted wrong TAN No, because of which amount reflected in Form 26AS do not match with the amount claimed as tax credit in your income tax return.
  1. Wrong amount entered in TDS in ITR: It can be the case that while entering the TDS amount you might have entered wrong amount and as a reason of which the income tax department has not given you the full tax credit of the amount reflected in Form 26AS.
  1. Mismatch in Form 26AS: If TDS and Advance tax paid reflected in Income Tax Return is not reflected in Form 26AS then the income tax department will not give any credit of TDS and advance tax.
  1. Claimed relief u/s 89, but not filed Form 10E: Tax payers who have claimed relief under section 89(1) and expecting refund will not get it unless they file Form 10E. Starting income tax returns for Financial Year 2014-15 (Assessment Year 2015-16), the income tax department has made it mandatory to file Form 10E if you want to claim relief under section 89(1).
  1. Refund adjusted or proposed to be adjusted against “Arrear Demand”: Refund due to you might have already adjusted against arrear demand or CPC has sent you a notice u/s 245 of income tax proposing to adjust refund against arrear demand and waiting for your response. Though this is not on account of your mistake on current year and may be on account of the mistake made in the ITR in the earlier year resulting demand.

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About CA Prakash Chartered Accountant Bangalore

CA Prakash Chartered Accountant Bangalore
CA Prakash is a practicing chartered accountant and partner in Bangalore -based CA Firm. For further information or query, please email it to [email protected]