Income Tax Refund

An income tax refund is a reimbursement of the excess tax paid to the government. This occurs when the total tax deducted, such as Advance Tax, TCS, or TDS, exceeds the actual tax liability for the financial year.

Under Section 237 of the Income Tax Act 1961, to claim the income tax refund, you have to file and verify your ITR. Ensure that the ITR verification is done within 30 days of filing your ITR.

To check the income tax refund status online, you shall follow the following steps.

• Access the TIN NSDL refund page.
• Enter your PAN number, Assessment Year (AY), and captcha code
• Click on submit.
• The status of your refund will be displayed on the screen.