
How to Check Income Tax Refund Status?
Posted on Thursday, January 23rd, 2025 | By IndusInd Bank
Filing your income tax return is a responsibility every taxpayer must fulfil. However, if you are eligible for a refund, you will want to track its status. The Income Tax Department processes refunds and credits them directly to your bank account. Hence, once it is processed, you will receive a notification from your bank. But, how to check the status of your ITR refund before you have received it?
In this guide, we will take you through the simple steps to check your income tax refund status. We also highlight why a savings account can be beneficial when you receive your refund.
Steps to Check Your Income Tax Refund Status
Here is how to find your income tax refund status:
1. Visit the Income Tax e-Filing Portal
The easiest way to check your refund status is through the Income Tax Department’s official e-filing portal.
- Go to the Income Tax e-Filing Portal.
- Log in using your credentials—PAN, Aadhaar, or user ID and password.
2. Navigate to ‘Refund/Demand Status’
Once logged in, go to ‘View Returns/Forms’. Then, check ‘Refund/Demand Status’. Here, you can see your e-filing refund status.
3. Understand Your Refund Status
After submitting the required details, you will see the status of your refund. Common statuses include:
- Refund Processed: Your refund has been processed, and payment will be made soon.
- Refund Failed: There may be an issue with the bank details provided, and the refund could not be credited.
- Refund Not Determined: Your refund is still under process or has not been initiated yet.
If you are unable to access the e-filing portal, you can also check your refund status on the TIN NSDL website. Simply enter your PAN and the relevant assessment year to view your IT return refund status.
Common Reasons for Refund Delays
Based on the ITR refund status you see, there can be several reasons for delays in receiving your income tax refund:
- Incorrect Bank Details: If your bank account number or IFSC code is wrong, the refund may not be processed successfully.
- Incomplete Verification: The Income Tax Department may require additional documents or verification before processing the refund.
- Filing Errors: Any discrepancies in your tax return, such as incorrect data, can lead to delays in the refund process.
To avoid these issues, ensure that your return is filed correctly, and all details, especially your bank information, are accurate.
Why is a Reliable Savings Account Important for Receiving the Refund?
Your income tax refund is credited directly to your bank account, usually a savings account. This makes it essential to have a well-maintained, active account to ensure that your refund is credited without any issues.
1. Seamless Refund Processing
Having a reliable savings account ensures that your refund is processed smoothly. If the account is inactive or has incorrect details, the refund may be delayed or rejected.
2. Interest-Earning Potential
Once your refund is credited to your savings account, it does not have to sit idle. Many savings accounts offer attractive interest rates, meaning your refund can continue to grow even while it is in the bank.
3. Safety and Convenience
A good savings account offers easy monitoring of deposits. With online banking and mobile apps, you can check when your refund is credited and manage your money with a few clicks.
Introducing IndusInd Bank’s Indus Delite Zero Balance Savings Account
If you want to maximize your income tax refunds, consider IndusInd Bank’s Indus Delite Zero Balance Savings Account. Here are a few features the account offers:
- High Interest Rates: IndusInd Bank’s Indus Delite Zero Balance Savings Account offers an interest rate of up to 7% p.a. This ensures that your refund can grow.
- Zero-Balance Option: IndusInd Bank’s Indus Delite Zero Balance Savings Account does not require you to maintain a minimum balance. This gives you more flexibility in how to use your income tax refunds.
- Cashback & Rewards: This account gives you the option of applying for the Delights Debit Card. This Card offers benefits like 5% cashback on spends for fuel, dining, and entertainment.
- Complimentary Insurance: If you choose the Indus Delite Zero Balance Savings Account and the Delights Debit Card, you get complimentary insurance. It covers lost cards and unauthorized transactions up to ₹1.5 lakh.
Conclusion
Tracking your income tax refund status is a straightforward process through the Income Tax e-filing portal or the TIN NSDL website. However, a reliable, active savings account is the key to encash your refund. With an attractive savings account interest rate, your refund can continue to grow over time.
Check the updated savings account interest rates.
If you want to optimise your tax refunds and other savings, consider the Indus Delite Zero Balance Savings Account from IndusInd Bank. It allows your savings to grow through attractive interest rates or use it to the fullest with no minimum balance requirement. Additionally, you can earn cashback and rewards through secure and efficient transactions from the account.
Enjoy efficient banking. Open a bank account with IndusInd Bank today!
Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.