Mumbai, January 18: The last date to file Income Tax returns was January 10. ITR Filing for 2019-20 was extended several times last year due to the coronavirus pandemic. By this time, most taxpayers would have received their refunds as there were reports that ITRs being processed faster this time.
The ITR refund time is just 7 days, so if a person doesn't get an ITR refund within this time frame, then there are some common mistakes that they need to check. ITR Filing For 2019-20: Don't Miss the January 10, 2021 Deadline to File Income Tax Returns Or You Will End Up Paying Penalty.
Income Tax Refund status:
A taxpayer can check the ITR refund status through the Income Tax Department website. He/she can easily do this through one's PAN, login ID and password.
Bank account requires prevalidation:
Income Tax refunds can only be issued to the bank accounts that are prevalidated. It can be done on the tax department's website.
ITR Not Verified:
This is an important step in the refund process. Taxpayers should check if it was done so that they can get their refunds.
Cross-check the Bank account details:
In case of a problem in bank account details provided during filing ITR, you may not get your refunds.
(The above story first appeared on LatestLY on Jan 18, 2021 09:34 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).