It appears you want me to rewrite the provided text about delayed income tax refunds. The original text is a mix of a news report and advice. I’ll restructure it to be a clear, helpful guide for a taxpayer experiencing this issue.
Income Tax Refund Delayed? Here’s Why and What to Do
Are you one of the many taxpayers who filed their Income Tax Return (ITR) early for FY 2024-25 but are still waiting for a refund? You’re not alone. Social media is buzzing with frustrated users, and chartered accountants note that the refund process seems slower than usual this year.
So, why is your refund stuck? Here are the most common reasons:
1. You Forgot to Verify Your Return
Filing your ITR isn’t the final step—you must verify it within 30 days. Without proper verification (via Aadhaar OTP, net banking, or by mailing a signed ITR-V to the CPC in Bengaluru), your return is considered invalid, and the refund process won’t even begin.
2. Your Bank Details Are Incorrect
A common issue is a bounced refund due to old or incorrect bank information. This is especially frequent because of bank mergers and IFSC code changes. You’ll usually get an email alert if this happens. To fix it, simply update your bank details on the income tax portal and request a “refund reissue.”
3. There’s a Mismatch in Your Details
The tax department cross-checks every single return. If the tax credit you claimed doesn’t match the information reported in your Form 26AS or Annual Information Statement (AIS), your refund will be held up. Any discrepancy—even a minor one—between the income you declared and what your employer or bank reported can trigger a review, delaying the process.
4. The System Is Stressed
Many people wait until the last minute to file. When millions of returns are submitted close to the deadline, the system gets overwhelmed. While the tax department aims for speed, it prioritizes accuracy, which means every return is subject to scrutiny to prevent incorrect claims.
What to Do if Your Refund Is Stuck
- Check Your Status: Log in to the e-filing portal to see the current status of your refund.
- Verify Your Return: If you haven’t already, e-verify your return immediately.
- Update Bank Details: Ensure your bank account is correctly linked to your PAN and is pre-validated. If a refund has failed, update your details and submit a reissue request.
- Raise a Grievance: If all else fails, you can raise a formal grievance with the CPC. This is often the best way to get a resolution when all other options have been exhausted.