Refund awaited in itr

Hey Guys Today in this Article we are talking about What is the Meaning of the Refund Awaited or ITR Processed with Refund Due. Actually After submission of the ITR, on Income Tax Portal there is Message Showing as Refund Awaited on Home Screen And ITR Processed with Refund Due in Filed Return Screen. What is Meaning of Refund Awaited ? Once you Submit your Income Tax Return, after that CPC Bangalore Process the ITR and Issue a Intimation Letter where your Refund has been Decided. So after that on the Home Screen there is Pop Up Showing as Refund Awaited which means Income Tax Department already determined your Refund which will be issued soon into your Linked bank account. What is Meaning of ITR Processed with Refund Due? If the status reads “processed with refund due,” that signifies that your tax return has been filed and that you should get your refund 20 to 45 days from the ITR processing date. If your refund request has been rejected, the AO may have updated their estimate of your tax liability. You will see the explanation for the denial, and if further tax is requested or an ITR needs to be corrected, you will receive notification from the IT department. In this situation, you are required to submit a Revised return in or pay the additional tax on the demand letter. How to Check ITR TDS Refund Status on Portal? There are two approaches to Check ITR refund status: • The Income Tax E-filing Portal • The Portal for TIN-NSDL How do I use an e-filing website to check th...

If you fail to submit details of your tax-saving investments to your office or submit it late, the accounts department may deduct more tax than what you are actually required to pay on your taxable income. To claim back the extra tax deducted at source (TDS), you have to file your income tax return (ITR). Even for non-salaried persons, who has deposited excess tax, filing an ITR is the only solution to get the tax refund. On filling all required data in the ITR form online, the system will automatically calculate the amount of refund, if any, payable to you. If you use excel utility file, you have to enable the macros while filling the form and have to click on the ‘Calculate Tax’ button after validating the ‘Taxes paid verification’ sheet. Once the tax is calculated, the amount will be shown in the ‘Refund’ row. After filing, the ITR has to be verified by the taxpayer either online through Aadhaar-based OTP, EVC or by sending the signed ITR Acknowledgement (ITR-V) to the income tax CPC office at Bengaluru. The tax department will start the refund process only after the ITR is verified and the refund amount will be paid if the claim of refund is accepted by the department. ITR Filing: Taxpayers now need to give a quarter-wise breakup of dividend income – Here’s why Interest is also paid on the refund amount from the financial year end to the date on which the refund order is processed, which must be included under income from other sources in the subsequent ITR. The refund...

Taxpayers who filed their Income Tax Return (ITR) for the financial year 2021-22 (assessment year 2022-23) either got their ITR refund or are waiting for it. The due date for auditing tax returns is October 31, 2022. Taxpayers can also check their ITR refund status through their PAN number on the NSDL website Taxpayers whose ITR does not require any audit are eligible for an ITR refund and the status of the same can be checked online, a report by Livemint said on Saturday. The Income-Tax Department offers taxpayers to check their ITR refund status after 10 days of their ITR filing. Those taxpayers who have filed their ITR more than 10 days ago and are still awaiting their ITR refund can check their refund status online, the report added. Here are the steps to check the status online: > Login into the Income Tax portal (eportal.incometax.gov.in) using your user ID and password. > Go to My Account and click on Refund/Demand Status. > From the dropdown menu, select Income Tax Returns and click on the Submit option. > Click on your acknowledgement number. > A new web page will open with all ITR details, including the date of issuing a refund. Taxpayers can also check their ITR refund status through their PAN number on the NSDL website. They will have to enter their PAN number, select the ‘assessment year’ and click on the ‘submit’ option to check the ITR refund status. The cumulative ITRs filed for the financial year 2021-22 stand at ₹5.83 crore with a record 72.42 lakh ITRs f...

One of the common reasons could have been the technical issue faced in the new portal and the process was delayed thereby, however, this issue has been resolved, and return processing has been expedited. Although, technical glitches or errors are some of the common factors for the delay in income tax refund. Notably, there can be other reasons why you still haven't received your tax refund. Additional Documents: Your income tax refund can be delayed because the Income Tax department requires additional documentation to take the process of your refund request ahead. To resolve this issue, a taxpayer can contact the assessing office through telephone or post. Submit the required documentation and get an acknowledgment from the officer for the same. Outstanding tax dues: A tax refund request can be rejected due to a taxpayer owing taxes to the IT department. A notice will be sent to a taxpayer by the department intimating about his or her's outstanding income tax amount. If such a case arises then a taxpayer should recheck all the documents and recalculate the tax liability and refund receivable. In case, the details you have filled in the income tax returns are correct then you can file for a rectification supporting your claim. However, if your details are incorrect, then pay the outstanding tax amount within the specified period. Income Tax Return (ITR) not verified: Another reason why your refund can be delayed or canceled is that your ITR is not verified. It needs to kno...

Hey Guys Today in this Article we are talking about What is the Meaning of the Refund Awaited or ITR Processed with Refund Due. Actually After submission of the ITR, on Income Tax Portal there is Message Showing as Refund Awaited on Home Screen And ITR Processed with Refund Due in Filed Return Screen. What is Meaning of Refund Awaited ? Once you Submit your Income Tax Return, after that CPC Bangalore Process the ITR and Issue a Intimation Letter where your Refund has been Decided. So after that on the Home Screen there is Pop Up Showing as Refund Awaited which means Income Tax Department already determined your Refund which will be issued soon into your Linked bank account. What is Meaning of ITR Processed with Refund Due? If the status reads “processed with refund due,” that signifies that your tax return has been filed and that you should get your refund 20 to 45 days from the ITR processing date. If your refund request has been rejected, the AO may have updated their estimate of your tax liability. You will see the explanation for the denial, and if further tax is requested or an ITR needs to be corrected, you will receive notification from the IT department. In this situation, you are required to submit a Revised return in or pay the additional tax on the demand letter. How to Check ITR TDS Refund Status on Portal? There are two approaches to Check ITR refund status: • The Income Tax E-filing Portal • The Portal for TIN-NSDL How do I use an e-filing website to check th...

If you fail to submit details of your tax-saving investments to your office or submit it late, the accounts department may deduct more tax than what you are actually required to pay on your taxable income. To claim back the extra tax deducted at source (TDS), you have to file your income tax return (ITR). Even for non-salaried persons, who has deposited excess tax, filing an ITR is the only solution to get the tax refund. On filling all required data in the ITR form online, the system will automatically calculate the amount of refund, if any, payable to you. If you use excel utility file, you have to enable the macros while filling the form and have to click on the ‘Calculate Tax’ button after validating the ‘Taxes paid verification’ sheet. Once the tax is calculated, the amount will be shown in the ‘Refund’ row. After filing, the ITR has to be verified by the taxpayer either online through Aadhaar-based OTP, EVC or by sending the signed ITR Acknowledgement (ITR-V) to the income tax CPC office at Bengaluru. The tax department will start the refund process only after the ITR is verified and the refund amount will be paid if the claim of refund is accepted by the department. TAX TALK: Co-owners to get tax benefit based on share of ownership Interest is also paid on the refund amount from the financial year end to the date on which the refund order is processed, which must be included under income from other sources in the subsequent ITR. The refund amount may be either credi...

Taxpayers who filed their Income Tax Return (ITR) for the financial year 2021-22 (assessment year 2022-23) either got their ITR refund or are waiting for it. The due date for auditing tax returns is October 31, 2022. Taxpayers can also check their ITR refund status through their PAN number on the NSDL website Taxpayers whose ITR does not require any audit are eligible for an ITR refund and the status of the same can be checked online, a report by Livemint said on Saturday. The Income-Tax Department offers taxpayers to check their ITR refund status after 10 days of their ITR filing. Those taxpayers who have filed their ITR more than 10 days ago and are still awaiting their ITR refund can check their refund status online, the report added. Here are the steps to check the status online: > Login into the Income Tax portal (eportal.incometax.gov.in) using your user ID and password. > Go to My Account and click on Refund/Demand Status. > From the dropdown menu, select Income Tax Returns and click on the Submit option. > Click on your acknowledgement number. > A new web page will open with all ITR details, including the date of issuing a refund. Taxpayers can also check their ITR refund status through their PAN number on the NSDL website. They will have to enter their PAN number, select the ‘assessment year’ and click on the ‘submit’ option to check the ITR refund status. The cumulative ITRs filed for the financial year 2021-22 stand at ₹5.83 crore with a record 72.42 lakh ITRs f...

One of the common reasons could have been the technical issue faced in the new portal and the process was delayed thereby, however, this issue has been resolved, and return processing has been expedited. Although, technical glitches or errors are some of the common factors for the delay in income tax refund. Notably, there can be other reasons why you still haven't received your tax refund. Additional Documents: Your income tax refund can be delayed because the Income Tax department requires additional documentation to take the process of your refund request ahead. To resolve this issue, a taxpayer can contact the assessing office through telephone or post. Submit the required documentation and get an acknowledgment from the officer for the same. Outstanding tax dues: A tax refund request can be rejected due to a taxpayer owing taxes to the IT department. A notice will be sent to a taxpayer by the department intimating about his or her's outstanding income tax amount. If such a case arises then a taxpayer should recheck all the documents and recalculate the tax liability and refund receivable. In case, the details you have filled in the income tax returns are correct then you can file for a rectification supporting your claim. However, if your details are incorrect, then pay the outstanding tax amount within the specified period. Income Tax Return (ITR) not verified: Another reason why your refund can be delayed or canceled is that your ITR is not verified. It needs to kno...

If you fail to submit details of your tax-saving investments to your office or submit it late, the accounts department may deduct more tax than what you are actually required to pay on your taxable income. To claim back the extra tax deducted at source (TDS), you have to file your income tax return (ITR). Even for non-salaried persons, who has deposited excess tax, filing an ITR is the only solution to get the tax refund. On filling all required data in the ITR form online, the system will automatically calculate the amount of refund, if any, payable to you. If you use excel utility file, you have to enable the macros while filling the form and have to click on the ‘Calculate Tax’ button after validating the ‘Taxes paid verification’ sheet. Once the tax is calculated, the amount will be shown in the ‘Refund’ row. After filing, the ITR has to be verified by the taxpayer either online through Aadhaar-based OTP, EVC or by sending the signed ITR Acknowledgement (ITR-V) to the income tax CPC office at Bengaluru. The tax department will start the refund process only after the ITR is verified and the refund amount will be paid if the claim of refund is accepted by the department. TAX TALK: Co-owners to get tax benefit based on share of ownership Interest is also paid on the refund amount from the financial year end to the date on which the refund order is processed, which must be included under income from other sources in the subsequent ITR. The refund amount may be either credi...

Hey Guys Today in this Article we are talking about What is the Meaning of the Refund Awaited or ITR Processed with Refund Due. Actually After submission of the ITR, on Income Tax Portal there is Message Showing as Refund Awaited on Home Screen And ITR Processed with Refund Due in Filed Return Screen. What is Meaning of Refund Awaited ? Once you Submit your Income Tax Return, after that CPC Bangalore Process the ITR and Issue a Intimation Letter where your Refund has been Decided. So after that on the Home Screen there is Pop Up Showing as Refund Awaited which means Income Tax Department already determined your Refund which will be issued soon into your Linked bank account. What is Meaning of ITR Processed with Refund Due? If the status reads “processed with refund due,” that signifies that your tax return has been filed and that you should get your refund 20 to 45 days from the ITR processing date. If your refund request has been rejected, the AO may have updated their estimate of your tax liability. You will see the explanation for the denial, and if further tax is requested or an ITR needs to be corrected, you will receive notification from the IT department. In this situation, you are required to submit a Revised return in or pay the additional tax on the demand letter. How to Check ITR TDS Refund Status on Portal? There are two approaches to Check ITR refund status: • The Income Tax E-filing Portal • The Portal for TIN-NSDL How do I use an e-filing website to check th...