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Everything You Need To Know About Income Tax Refund Reissue | Company Vakil

Everything You Need To Know About Income Tax Refund Reissue


Assessee (a person by whom any tax or any other sum of money is payable) or a taxpayer who has paid a higher tax to the government than their actual tax liability in the financial years before, are required to file their Income Tax Return (ITR) (tds refund) to claim the income tax refund. The higher tax is always given out through a pre-paid system by an individual during the financial year or self-assessment or Tax Deducted at Source (TDS). In other words, if the actual tax paid by the taxpayer to the government is cumulatively more than the TDS, self-assessment tax and the advance tax, then the taxpayer is eligible to get an income tax refund. In this article, we will look at the procedure for applying for income tax refund reissue and TDS refunds.

What is Income Tax Refund?
A refund occurs, when the taxes a taxpayer have paid are more than the actual taxable amount, it is refunded back to the taxpayer by the Income Tax Department after processing of income tax return. This is referred as Income Tax Refund. You can check your Income Tax Return Status on the official website of the Income Tax Department or TIN/NSDL website. The Income Tax Department issues a refund, which is credited to the bank account mentioned while filing the Income Tax Return (ITR).

Modes of Issuing Refunds
Many taxpayers are very ignorant about their TDS Return & Income Tax Return Status. Even some are not aware that they can check the status online. It’s very easy to check your Income Tax Return or TDS Refund, you just need your Permanent Account Number (PAN) and the assessment year to search for the current position for your returns. Refunds are being sent in the following two modes:

RTGS / NECS: In order to enable refunds from TDS Refund or Income Tax Return, the taxpayers or the assessee’s bank account number, MICR/IFSC code of the branch are required to be filled up correctly. The refund amount is credited directly to the assessee’s bank account by the Income Tax Department by RTGS or NECS

Paper Cheque: The standard paper cheques wherever issued require the correct bank account number and address of the taxpayer or assessee. Income Tax Refund Cheque would be sent to the assessee as per the bank account details and address provided in Income Tax Return Filed by the assessee.


Refund Banker Scheme
The Refund Banker is a scheme in which a particular bank has been sanctioned to issue refunds on behalf of the Income Tax Department. The Refund Banker Scheme operates for taxpayers assessed all over India (except at Large Taxpayer Units) and for returns processed at CPC (Centralized Processing Centre). State Bank of India (SBI) is the authorized banker to this scheme. The refunds generated are issued in the form of cheques/drafts or ECS on the processing of Income-tax Returns by the Assessing officers/CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers.


Different Types Of Income Tax Refund Status


  1. Not Determined: It implies that your TDS Return or Income Tax Return has not been processed & you need to check your Income Tax Return Status after a few days.


  1. Refund Paid: It implies that your Income Tax Refund has been sent to you by a cheque or has been credited to your bank account.


  1. Refund Failed: This status appears when the refund amount could not be credited to your bank account because of improper bank details, etc.


  1. Refund Expired: This refund check is issued by the Income Tax Department & is validated for 90 days. If it expires then you will have to get a refund cheque re-issued in your name.


  1. The Cheque Has Been Encashed: This message reflects that check sent by the Income Tax Department which has been received by you and has been encashed.


  1. Refund Returned: In case the cheque is being been sent back or returned to the Income Tax Department, this status appears. In such cases, your refund will be canceled and you will have to send a request to re-issue your income tax refund.


  1. Refund Adjusted Against Last Year’s Outstanding Demand: In case you have a pending tax demand from the Income Tax Department for the antecedent fiscal year, your income tax refund may get adjusted against your income tax refund. The Income Tax Department sends an intimation, notifying the same, to the taxpayer before adjusting your TDS refund or Income Tax  Return refund against the last year’s tax demand.


Reasons For Not Receiving Income Tax Refund

If you haven’t received your tax refund yet, then the following could be the reasons for the delay:


  • The taxpayer has provided his bank details such as account number or IFSC/MICR code incorrectly or mistakes were made while filing Income Tax Return.
  • The communication address mentioned by the taxpayer is incorrect.
  • There happens a mismatch between Form 26AS and tax details while filing Income Tax Return.
  • The details such as BSR code, date of payment and challan numbers were incorrect.
  • ITR V has not been received at CPC Bangalore office.
  • Incomplete verification of your return filed.
  • There was no refund requested while filing of your income tax return.
  • The Income Tax Department states there is an outstanding demand due to incorrect filing of the return.
  • Income tax department has requested to submit additional information for clarification.
  • A defective return filed by you.
  • An invalid return filed by you.


Online Procedure to Apply For Refund Reissue


Below are the steps and images provided to be followed to request refund reissue on the official website of Income Tax Department.


Step 1 – Visit the official website e-Filing.


Step 2 – Login If you are already registered or if you are a new user then you have to Register yourself on official web-portal by following the steps given below.


Step 3 – Click on “Register” at the right top corner.


Step 4 – Select the User Type as Individual or HUF or Other than Individual and HUF what describes you the best and click on the continue button.


Step 5 – Enter all the details correctly and click on continue


Step 6 – After completing your registration, an OTP will be sent to your registered mobile number.


Step 7 – Now enter the OTP for the successfully completing the registration.


Step 8 – Now Login to your account and click on the “My Account” option in the menu bar and click on “Refund Re-issue Request”.


Step 9 – Now enter all the required details such as Permanent Account Number (PAN), Assessment Year, CPC Communication Reference Number, Refund Sequence number and entering all details correctly click on the “Validate” button.


Step 10 – Ones the validation is completed, select the mode of Refund Reissue from the options provided. Two options will be provided:

  1. ECS: This selected mode of refund reissue will ask you to provide Bank Account and other bank details. Fill all the information carefully.
  2. Paper (By Cheque): This option envisages you to get a refund through cheque to the provided address. Fill all the information carefully in the drop-down menu.


Step 11 – Now click on the “Submit” button to validate all your provided details.


After the validation, you will receive a success message. You will have to undergo a verification process using an electronic verification code (EVC) or a digital signature certificate (DSC) to complete the process.


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