Friends,
Have you filed your Income Tax Return for the previous year in which Refund of Income Tax was due? Have you not received satisfactory information regarding this Refund ? Don't worry. There may be some issues regarding this refund like as incorrect PAN has been entered while filing your return, there may be address problem. The refund has been issued by the Income Tax Department, but due to wrong address the same has been returned back. As far as the Refunds issues are concerned, the process has been reasonably streamlined & made simpler by the Income Tax Department. However, there are instances wherein getting the refunds become cumbersome & annoying. In most of the cases, refunds are not issued for the following reasons:
- Incorrect entry of PAN number
- Change of address without proper intimation to the tax department
- Wrong bank account provided in the tax return
- Inconsistency in TDS credit with reference to 26AS (Tax Credit Status)
- Delayed in tax return filing or non-filing by the Tax Deductor.