Skip to main content

5 Mistakes Delaying your Income Tax Refund

5 Mistakes delaying your Income Tax Refund

When you are e-filing income tax return, make sure to watch out for common mistakes to avoid getting delayed or denial of income tax refund.

Common mistakes an income tax payee could do to avoid delay in refund of Income tax:

Non e-filing of income tax return

Taxpayers must note that their refund will not come directly without filing income tax return. The income tax department (ITD) has made it mandatory since June 2015 to e-file income tax return (ITR) for people who are looking for the income tax refund. So, please keep in mind that you need to file return online for any income tax refund, you may have.

Choosing the incorrect income tax return form

It is suggested to wisely choose the correct income tax return form to file income tax return as choosing the incorrect return form could cause non-processing of income tax return by CPC. This non-process of income tax return could result in delay in income tax refund status (if any).

Mismatch of Taxes paid in Form 16 with Form 26AS

In most of the cases, refund is delayed or even denied when their TDS paid details mentioned in Form 16 do not match with the Tax Credit statement i.e. Form 26AS. The ITD consider Form 26AS as final. Therefore, if the tax credit is incorrect in Form 26AS, this would result in taxpayer not getting her/his refund or sometimes get a tax liability notice from the ITD.

Mismatch in TDS paid in Form 16 with Form 26AS could be due to non-deposit of TDS deducted by the government. Your employer or bank which deducted the TDS might have entered incorrect PAN (permanent account number) details while depositing the TDS to Government. Make sure there is no differences arising when comparing details of Form 16 with Form 26AS. Make sure to enter correct TAN (Tax Deduction and Collection Account Number) of deductor and TDS deducted in your income tax return. If PAN is not mentioned then the TDS is deducted at a higher rate of 20 per cent resulting in tax credit mismatch.

Providing incorrect bank account details

Taxpayers providing wrong bank account details while filling their income tax return will not be able to get their refund (if any). Make sure you provide correct bank account details such as bank account no, IFSC code, MICR code, etc. so that income tax refund could arrive on time. Income tax refund via cheque is now outdated and not applies today. File Income tax refund and it would be directly credited into your bank account.

Not E-verifying ITR-V or not sending it to CPC Bangalore

One main reason for delay in Income tax return is not E-verifying ITR-V or not sending it to CPC Bangalore. When you verify ITR electronically, you get a one time password (OTP) on the mobile number associated with your Aadhar number. Then you need to authenticate Aadhar number by entering the one time password at official website of the ITD. You can also e-verify Income tax return via Bank ATM or through mobile and e-mail verification or via net banking. If you e-verify your income tax return, there is no need to send ITR-V to CPC Bangalore then.

If you are not able to e-verify return, you need to send the completely filled ITR-V form duly signed to CPC, Bangalore within 120 days of e-filing income tax return via ordinary post or speed post failing, your e-filed ITR will not be processed resulting in no refunds(if any).

So, these were the 5 Mistakes that delay your Income Tax Refund.

Recent Posts

Popular posts from this blog

Nagarhole National Park Safari Booking Online

Nagarhole National Park Safari Booking Online There is good news for all wildlife enthusiasts and tourists who were appealing to the forest department to introduce online ticket booking system for safari in the Nagarahole national park. All wildlife enthusiasts and tourists wishing and requesting the forest department to begin online ticket booking system for safari in the Nagarahole national park would be happy to know that Nagarhole safari booking online is now active and fully operational. Nagarhole Safari Ticket Booking has been started to bring in more transparency as well as facilitating tourists to plan and book tickets for their safari in advance. It was a demand from the people at large, mostly from Bengaluru, Karnataka and neighbouring states like Kerala and Tamil Nadu who quite often visit the Nagarhole national park to start the online ticket booking system. Nagarhole National Park  Nagarahole (or Nagarhole) name is derived from a windy river named Nagara Ho

Lucknow Jal Sansthan Online Payment, Online Water Bill Payment Lucknow

Lucknow Jal Sansthan Online Payment, Online Water Bill Payment Lucknow Lucknow Jal Sansthan online Payment is now available from November 2016. To facilitate online payment of water and sewer taxes online, you can use the Lucknow Jal Sansthan's online portal from November. From this month, i.e November onwards, you can use the Lucknow Jal Sansthan online portal to facilitate people to pay their tax dues and arrears online and make e-payments faster without having to reach Jal Sansthan's zonal office for water tax payment. As per Jal Sansthan general manager S K Verma, "The portal facility would be launched initially from zone 8 to see the response and check the portal's performance. Soon, it will be launched across Lucknow." Zone 8 includes colonies on Rae Bareli Road and Sultanpur Road like Vrindavan Yojna, Telibagh, South City, and colonies near PGI, Ruchi, Rashmi and Rajni Khands, Eldeco Udyan II, etc. The Lucknow Jal Sansthan online portal is being ch

Calangute Panchayat House Tax Payment

Calangute Panchayat House Tax Payment MAPUSA: The Calangute Panchayat launched its website for providing online services to the people of the village. Calangute Panchayat was launched by MLA Michael Lobo in presence of Sarpanch Anthony Menezes, Panchas and HDFC bank officials. With , citizens of Calangute can now download different forms, track stray cattle and garbage collection along with making online payments such as pay house tax Calangute . Sarpanch Anthony Menezes said that now people can pay Calangute house tax online even if they are outside India. All forms that are needed can be downloaded from the official website of Calangute Panchayat and submitted. Manezes also informed “Mini chips will be inserted in cattle's body so that they can be tracked easily. The cattle registration with its owner details would be done with the Calangute panchayat . Thus owners could track their cattle and people can also identify a