You probably have filed your revenue tax return (ITR) for AY 2023-24 and are ready in your tax return, there’s a new performance launched on the revenue tax portal by way of which you’ll be able to straight test the tax refund standing.
Earlier, taxpayers wanted to test the refund standing on the TIN-NSDL web site. You’ll be able to nonetheless test it from the TIN-NSDL web site as nicely. Nevertheless, now, a brand new performance has been launched on the revenue tax portal (I-T portal) itself, which permits customers to test their refund standing straight from the portal itself.
You probably have paid extra tax than your precise tax legal responsibility, you’ll be able to declare a tax refund from the Earnings Tax Division.
A Step-By-Step Information To Verify Earnings Tax Refund Standing:
Step 1: Go to the E-filing portal.
Step 2: Scroll down the ‘Fast Hyperlinks’ part until you see ‘Know Your Refund Standing’. Click on on it.
Step 3: Fill in your PAN quantity, evaluation 12 months (2023-24 for the present 12 months), and cell quantity.
Step 4: You’ll get an OTP. Fill within the OTP within the given place.
Now, it can present the revenue tax refund standing. If there may be some problem in your ITR financial institution particulars, it can present: ‘No Data Discovered, please test your E-filing processing standing by navigating by way of e-File – > Earnings Tax Returns – > View Filed Returns‘.
As of July 2, 2023, about 1.32 crore ITRs have been submitting for the evaluation 12 months 2023-24. Of those, round 1.25 crore revenue tax returns have been verified up to now, in line with the revenue tax portal. Thus far, solely 3,973 verified ITRs have been processed for the evaluation 12 months 2023-24.
There are round 11.22 crore particular person registered customers.
The final date to file your ITR AY 2023-24 is July 31. Individuals are suggested to file ITR now to keep away from the last-minute rush. There are round seven varieties of revenue tax types. Every kind is completely different and is for a specific kind of tax filer. You should know which kind is suitable for you, in order that any revenue tax discover might be averted in future. For these having solely wage revenue, they will file it utilizing ITR-1, whereas these having different sources of revenue want to make use of different types to file ITR.
PAN card, Aadhaar card, Type 16, Type 16A, 16B, 16C, financial institution assertion, Type 26AS, funding proofs, hire settlement, sale deed, and dividend warrants could also be required to file the revenue tax return.
Type 26AS might be downloaded from the revenue tax portal. It’s an annual tax assertion like a tax passbook that has particulars of the taxes deposited and deducted with the federal government in opposition to your PAN.