Address cause of tax refund failure, then request reissuance: Experts

Failure to verify return, incorrect bank address are key reasons for not receiving timely refund

The Income-Tax (I-T) Department has issued tax refunds amounting to more than Rs 1.14 lakh crore to over 1.97 crore taxpayers between April 1, 2022 and August 31, 2022. If you filed your Income-Tax Return (ITR) on time and haven't got your refund yet, you need to take a few steps.

Check your refund status

Generally, tax refund is credited to your bank account within two-three weeks of receiving the intimation under Section 143(1) of the I-T Act. Suresh Suarana, founder, RSM India says, “An assessee who fails to receive the refund as stated in the intimation should first check