New Delhi:
After filing your income tax return, you might eagerly await the refund. Typically, the Income Tax Department processes returns and sends an intimation to your email ID.
Usually, it takes about 3-4 weeks for the refund to reach your account. This year, the last date for filing income tax returns was July 31, and 7.28 crore returns were filed by that date.
However, the number of actual taxpayers is less than half of the total returns filed.
Who is Eligible for a Refund?
The Income Tax Department issues refunds to taxpayers who have paid more tax than required. When filing your income tax return, the department calculates your tax liability to determine whether you’ve paid too much, too little, or just the right amount.
Once this calculation is complete, the department sends an intimation about the processing of your return.
Intimation and Tax Refunds
The department sends an intimation under Section 143(1) of the Income Tax Act, which is emailed to the taxpayer.
This intimation includes details about your tax liability and any refund due to you.
It’s essential to regularly check your email for this notification.
Additionally, you can check the status of your return by logging into the e-filing website of the Income Tax Department.
What If Your Refund Is Less Than Expected?
If you believe the refund amount is less than what you expected, or if you think there was an error in the tax calculation by the Income Tax Department, you can file a rectification request.
This request is filed under Section 154 of the Income Tax Act.
How to File a Rectification Request
To file a rectification request, log in to the e-filing website of the Income Tax Department.
The department has provided detailed instructions on how to do this on its website, updated as of August 8.
The rectification request can only be submitted to correct errors made by the Centralized Processing Center (CPC) in processing your return.
If the mistake was made by you, you’ll need to file a revised return instead.
