PEAKLIFE

By Lyla Shroff

Do the words ‘Income Tax Refund’ send you in a flurry of panic? Filing your ITR can be daunting—especially if you’re new to personal finance. Whether you’re a seasoned professional or just starting your career, understanding the nuances of tax payment and knowing how to check your Income Tax Refund status update is crucial. Through this article, we hope to make the process of checking your Income Tax Refund status a little less overwhelming.

What is the Income Tax Refund Status?

Income Tax Refund status refers to the current stage of processing and evaluation of your income tax return by the tax authorities. When you file your income tax return, you might have overpaid your taxes throughout the year, resulting in a refund. The Income Tax Refund status lets you know where your refund stands in the process—whether it’s still being reviewed, approved, or if it’s ready for disbursement. You can think of it as a virtual progress bar that shows you how far along your refund is on its journey back to your wallet.

How to Seamlessly Check Your Income Tax Refund Status

Submitting the ITR is a yearly responsibility for all taxpayers, and for numerous individuals, an awaited result is the expectation of receiving back excess income tax. Typically, these refunds are directly deposited into the associated account without manual intervention. However, there are instances when these reimbursements encounter delays.

The founder and CEO of SAG Infotech, Amit Gupta, says that taxpayers do not need to get frazzled while trying to monitor the status of their ITR refund. They can simply visit the official website of the Income Tax Department and upon signing in, they can track the progress of their refund. It is also possible to verify the status without logging in to the portal.

The government has simplified this procedure, making it convenient and straightforward to check your ITR refund. Follow these steps for a simple solution:

1. Visit the official income tax website created by the Income Tax Department of India via this link: https://www.incometax.gov.in/iec/foportal/

2. There is a panel named ‘Quick Links’—click on the option under it that reads ‘Check Income Tax Return (ITR) Status’.

3. A page will appear for you to enter your acknowledgement number and mobile number, after which you will receive an OTP.

4. Fill in your OTP and select ‘continue’ to view your Income Tax Refund status.