Many taxpayers are worried because their income tax refunds haven’t yet reached their bank accounts.
If you filed your return on time, there’s good news—you should receive your refund soon.
Some people are also wondering whether the Income Tax Department pays interest for delayed refunds.
How to Check Your Refund Status
If your refund hasn’t arrived, the first step is to check the status online on the Income Tax e-filing portal.
You can also contact the Central Processing Center (CPC) or your assessment officer if needed.
What Happens If You File Late?
If you file your ITR after the deadline, the rules for interest change.
Interest is calculated from the date of filing instead of April 1st.
This means late filers receive only part of the interest.
Filing on time not only avoids penalties but also ensures you get full financial benefits.
How Is Interest Calculated?
Interest on delayed refunds is calculated at 0.5% per month on the entire refund amount.
It applies to taxes paid in advance, like TDS, advance tax, or self-assessment tax.
If the delay is your fault (wrong information or incomplete documents), you won’t get interest.
If the delay is the Income Tax Department’s fault, you are entitled to full interest under Section 244A.
Claim Your Extra Interest
If you filed your ITR on time, it’s your legal right to claim interest for any delay.
This is also the government’s responsibility.
So, don’t wait—check your refund status and take action if needed.
