Income Tax FAQs

FAQ On Income Tax Refund

1) How do I claim an income tax refund?

You can claim an income tax refund when the taxes actually paid by you is in excess of the tax liability at the time filing your return. The tax actually paid may consist of TDS, TCS, advance tax. You can claim your tax refund by filing an income tax return.

2) Do I receive interest on income tax refund?

You are entitled to interest on income tax refund at 6% p.a. from 1 April of the assessment year. The interest on income tax refund applies in case of excess advance tax paid, TDS and TCS, where the return is filed within due date. Where the return is filed after the due date, the interest is applicable from the date of filing of return.

3) How do I check the status of income tax refund?

You can check the status of income tax refund from your login on the e-filing portal. The refund status is available under ‘Refund/Demand status’ in the dashboard the login.

4) How do I link the bank account for receiving income tax refund?

You can specify the bank account in which you want to receive your income tax refund. Your bank account should be linked to the PAN and you should pre-validate the bank account in the e-filing login.

5) What is the time frame for income tax refund?

There is no prescribed time frame. For an income tax return filed within the due date, the refunds are disbursed on a priority basis. In case of belated returns, refunds get delayed by a few months.