Income Tax Refund: Easy steps to check your ITR status and get money back

An income tax refund is the money you get back from the government if you paid more in taxes than you were supposed to. For example, if you had too much tax deducted from your salary or if you paid too much in advance taxes, you can claim a refund. It’s a way to make sure you don’t lose any extra money that you overpaid in taxes. The government has made it easy to get your refund by offering online options. Once you’ve filed your tax returns and they have been verified, it usually takes about 20-45 days for the refund to be processed. To check the status of your income tax refund, follow these steps: Step 1: Visit the income tax e-filing website at https://www.incometax.gov.in/iec/foportal. Step 2: Log in to your account using your PAN details, OTP, and Captcha. Step 3: Once logged in, click on the “e-file” option. Step 4: Go to the “income tax returns” tab and click on “View Filed Returns.” Step 5: From there, you can check the status of your latest filed ITR. Step 6: Click on “View Details” to check the status of your income tax refund. Please note that there are different types of ITR forms for different tax filers, so make sure to select the correct form while filing your income tax return for the assessment year 2023-24. You are eligible to receive an Income Tax Refund if you have paid more taxes than you actually owe for a specific fiscal year. Some common reasons for paying excess tax include overpayment through advance tax, higher tax deducted at source (TDS) by your employer, incorrect tax calculations resulting in higher payment, or double taxation of income earned abroad. To receive the refund, you must file your Income Tax Return (ITR) accurately and get it verified. The income tax refund process is quite simple. After you file your tax returns and confirm them electronically or by sending a physical copy of the ITR-V acknowledgement, the refund process begins. The tax authorities will check if you have paid more tax than you owe, and if so, they will start processing your refund. Once the refund processing is done, the income tax refund will be directly deposited into your bank account. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook_,_  Twitter and  Instagram_._