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Showing posts with the label income tax refund process

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...

Checklist for Income Tax Refund

Checklist for Income Tax Refund If your employer has deducted income tax in excess or you were not able to declare your investments on time. Worry not as one can claim the excess income tax back from the income tax department . Steps to Guide you when you are filing for Income Tax Refund: You can claim income tax refund by simply filing income tax return . If you find in the income tax return mentioning that you have paid more income tax, there is no need to apply for it separately. You are not required to file income tax return if your taxable income is lower than the maximum exempted limit. If you wish to claim any refund for income tax , you have to file return . Tax refunds need to be claimed within a period of two years from the end of the financial year for which the tax refund claim is related. Before claiming income tax refund , you must check Form 26AS available on the Income tax website , it's also know as your tax credit statement. Even if your income tax...