The Income Tax Department has introduced a new feature called “Know Your Refund Status” on the e-Filing Portal. This feature enables taxpayers to easily track the real-time status of their income tax refunds without logging into the Income Tax Department’s e-filing portal. By using this feature, taxpayers can stay updated on the progress of their refunds and manage their finances accordingly.
In the past, taxpayers would visit the TIN-NSDL website to check their refund status. However, now there is an additional option, i.e. new feature on the e-filing portal that lets you check your refund status directly.
The “Know Your Refund Status” feature retrieves relevant data from the Income Tax Department’s databases and displays the latest refund status based on that information. The refund status is regularly updated, although the frequency of updates may vary depending on the progress of refund processing. Understanding the refund status is crucial for several reasons, as it provides peace of mind by eliminating uncertainty and helps taxpayers plan their finances more effectively.
To access the “Know Your Refund Status” feature, taxpayers need to visit the e-filing portal of the Income Tax Department and locate the option on the homepage visit the following url:
To access the “Know Your Refund Status” feature, taxpayers must visit the Income Tax Department’s e-filing portal and locate the option on the homepage or can visit the following URL directly:
https://eportal.incometax.gov.in/iec/foservices/#/know-refund-status/user-information
Once on the refund status page, taxpayers need to provide their Permanent Account Number (PAN), Assessment Year and Mobile Number. They must also complete a security verification process by entering the OTP sent to their mobile. After submitting the required information, taxpayers can view their refund status.
Familiarizing themselves with the refund status terminologies enables taxpayers to correctly interpret their status and take appropriate action if necessary. Some common refund statuses include,-
i) Refund Approved: The refund has been verified and approved for payment,
ii) Refund Sent: The refund payment has been initiated and sent to the bank for processing,
iii) Refund Rejected: The refund claim has been rejected for some reason, as may be indicated, and
iv) Refund Failed: This occurs rarely due to technical or administrative issues.
In conclusion, the Income Tax Department has introduced a convenient and user-friendly feature called “Know Your Refund Status” on the e-Filing Portal. This new functionality enables taxpayers to easily monitor the progress of their income tax refunds in real-time, eliminating the need to log into the Income Tax Department’s e-filing portal. By accessing the “Know Your Refund Status” feature, taxpayers can stay informed about the latest updates on their refund status, allowing them to plan their finances more effectively. The refund status is regularly updated based on data retrieved from the Income Tax Department’s databases, ensuring accurate and up-to-date information. It is essential for taxpayers to understand the various refund status terminologies to interpret their status correctly and take appropriate action if necessary. Whether it’s “Refund Approved”, “Refund Sent”, “Refund Rejected” or “Refund Failed”, the taxpayers can make informed decisions based on their refund status. To access this feature, taxpayers can visit the e-filing portal of the Income Tax Department and follow the instructions provided.