Updated 2 August 2023 at 17:43 IST

ITR 2023: Track your income tax refund online in a click

Taxpayers should regularly check their refund status, as the Income Tax Department processes refunds within 20-45 days after filing the ITR.

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Timely monitoring of refund status is crucial for taxpayers, say experts. | Image credit: Shutterstock | Image: self

As the deadline for filing income tax returns (ITRs) for the assessment year 2023-24 ended on July 31, 2023, a record-breaking number of taxpayers submitted their returns. The Income Tax Department has acknowledged and applauded their timely compliance. For those who have already filed their ITRs, the department has initiated the process of refunding eligible taxpayers.

Track your refund in 5 steps

Visit the Income Tax e-filing portal
Access the official website of the Income Tax Department at https://www.incometaxindiaefiling.gov.in/.

Login to your account
Use your registered user ID, password, date of birth, or date of incorporation (as applicable) to log in to your account on the e-filing portal. Additionally, you will be required to enter the captcha code provided on the page.

Navigate to 'My Account'
Once logged in, find the "My Account" option on the portal's dashboard and click on it.

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Click on 'Refund/Demand Status'
In the "My Account" section, locate and select the "Refund/Demand Status" option.

View Your Refund Details
After clicking on 'Refund/Demand Status,' you will see a display of your refund details, including the assessment year, refund status, and the mode of payment. If there are any issues with the refund process, the reason for the failure will also be provided.

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The Income Tax Department typically processes refunds within 20-45 days after the ITR has been filed. 

Record-breaking ITR filings

India has witnessed an impressive surge in income tax return (ITR) filings for the assessment year 2023-24, with over 6.77 crore ITRs filed until July 31, 2023. This figure represents a remarkable 16.1 per cent increase compared to the corresponding period last year, wherein 5.83 crore ITRs were filed. The Income Tax Department has acknowledged the timely efforts of taxpayers and tax professionals, as this year's filing numbers have reached new heights.

On July 31, 2023, the nation witnessed an overwhelming response, with over 64.33 lakh ITRs filed on a single day, showcasing a significant commitment by taxpayers to meet the deadline. Remarkably, approximately 53.67 lakh ITRs were filed by first-time filers, indicating a noteworthy expansion of the tax base and improved tax compliance across the country.

"An important aspect of the filing process is the electronic verification (e-verification) of ITRs, which brings efficiency to the system. Out of the total e-verified ITRs, which stands at a staggering 5.63 crore, a remarkable 3.44 crore ITRs (61 per cent) have already been processed by the tax department, a testament to their streamlined approach," said Amit Gupta, MD, SAG Infotech.

The Income Tax Department's e-filing portal experienced unprecedented traffic during the filing period, with over 32 crore successful logins recorded from July 1 to July 31, 2023. A significant milestone was achieved on July 31, with a record-breaking 2.74 crore successful logins in a single day.

Published By : Leechhvee Roy

Published On: 2 August 2023 at 15:30 IST