Is Your Income Tax Refund Delayed? Check All Possible Reasons Here

New Delhi: As the deadline for filing Income Tax Returns (ITRs) for the Assessment Year 2024-25 has passed, many taxpayers are now anxiously awaiting their refunds. Despite filing and verifying their returns on time, over 2 crore taxpayers have yet to see their refunds processed. This delay has led to growing frustration and a surge in online searches related to the Income Tax Department, reflecting the widespread concern among those still waiting for their refunds.

Reasons for Income Tax Refund Delays in 2024:

E-verification Pending: One of the most frequent causes of delay is the lack of e-verification. Your return cannot be processed until it has been e-verified.

Delayed Physical Verification: If you chose physical verification by sending the ITR-V form to the Centralised Processing Centre (CPC) in Bengaluru, any delays in this process can also hold up your refund.

Processing Time: The Income Tax Department usually takes 20-45 days to process a return after e-verification. However, high volumes of returns can lead to further delays.

Discrepancies in ITR: If the department finds inconsistencies in your return, your refund may be delayed. You might even receive a notice asking you to clarify these discrepancies.

Bank Account Issues: Incorrect bank details, closed accounts, or account holds can prevent your refund from being credited.

Tax Arrears: Outstanding tax dues can result in your refund being adjusted against them. Discrepancies between the tax paid and the tax declared might also cause delays.

System Errors: Technical issues within the Income Tax Department’s systems or your bank’s systems can sometimes lead to delays.

Portal Updates: Updates or changes in the IT portal may also delay the processing of refunds.

Refund Reissue Request: If your refund has been issued but not credited, you may need to request a reissue.

How to Check Your Income Tax Refund Status

To check the status of your refund, visit the official website of the Income Tax Department. Regularly monitoring your status can help you stay informed about any potential delays.

Steps to Take if Your Tax Refund is Delayed

• Verify E-verification: Ensure your ITR has been e-verified.
• Check for Discrepancies: Review any communication from the Income Tax Department regarding discrepancies in your return.
• Validate Bank Details: Confirm that your bank account details are accurate on the e-filing portal.
• Monitor Refund Status Online: Keep an eye on your refund status through the department’s website.
• Contact Your Assessing Officer: If your refund is significantly delayed, consider reaching out to your local assessing officer.
• Raise a Grievance: If all else fails, raise a grievance on the Income Tax Department’s e-filing portal.

Beware of Fake Income Tax Refund Messages

Meanwhile, the Income Tax Department has issued warnings about a rise in ITR refund scams. Fraudsters may use fake calls, pop-up notifications, and phishing emails to trick taxpayers into revealing sensitive information. Always verify suspicious communications through official channels to avoid falling victim to these scams.

A recent case highlighted by the department involved a man who lost Rs 1.5 lakh after clicking on a fake refund message, which led to his phone being hacked and money being debited from his account. Stay vigilant and protect your personal information.