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  • Category: Tax Planning

    Got no refund after ITR-V acknowledgement?


    Have a query about filing income tax returns? Wondering what to do if you have not got any refund? Check out this page to resolve your queries.

    For year 2015-2016 I have filed ITR-V for tax return. In Form acknowledgement it clearly shows due to pay me but Income Tax Department took 6 weeks for only processing papers and I did not receive return in my bank account. The case showing following status.
    Return uploaded
    Successfully e-verified
    EVC Accepted
    ITR processed no demand no refund - ( thought I have submitted demand for return)
    Can experts provide some valuable advice?
  • #141303
    Simply submitting I T return does not imply that a refund will be immediately sent to you.
    After submitting ITR-V, the income tax department will process the case and a detailed assessment report under section 143 will be sent to you in which the detailed calculation as per the perception of IT department will be presented.
    After that if you find something incorrect in their calculations or something not taken in account then you have to appeal which can be done online.
    Only after that if required a review assessment will be done by IT department and if due a refund will be remitted to your bank account.
    These procedures are mandatory and without following them IT department will not be able to make any refund.

    Knowledge is power.

  • #141311
    With the extend use of computer and technology the processing of income tax returns and issue of retunds has become quicker.
    To check the status of your e-Filed IT return login in the income tax e-filing website and go to 'my account'->'My Returns/Forms'.
    Once your ITR-V is verified than i think it will take around 2 to 3 months to process your refund.

  • #141326
    @ Umesh and other , I did not get solution what I do to now? You only given causes.
    Avi
    Life Is Beautiful

  • #141332
    If the time reaches more than 3 months it means Income tax department denied your refund as per their calculation . This generally can happen because of mismatch of TDS data incomplete or improperly file section in the original filing.
    If you forgot to include some deduction while filing, than I think you can revise your return.

  • #141340
    From reading your question and details given there, I feel there is no refund due to you after the IT department has verified and scrutinised your return.
    No what you have to do is togetthe assessment order from IT department. It used to come by post to the address give in PAN/ return. But now you can get it in youremail (registered with IT dept). For this you have to request to IT department . The procedure is a follows:

    1. Log in properly to your income tax e-filing account.
    2. In the opening page, click My Account
    3. Click on Service Request in the drop down options menu
    4.Click on 'New Request' in the next option.
    5.Click on "Intimation U/S 143(1) /154" from the displayed options menu.

    Now you will get intimation that the service request is registered and you will get reply in your registered e mail.
    Just after a few days you can get the "tax Intimation U/S 143(1) for PAN XXXXXXX with respect to the return of income filed by you for the Assessment Year 2016-17."
    You can open it with the password as directed there.
    You may take a print and verify for all details comparing it with your return filed.

    If there is refund you would have received intimation by SMS/E mail from IT dept. and the amount would have got credited in the bank account given by you I your return.

    But what I gave in points 1 to 5 is the only way you can now know about it.

  • #141344
    When the Income Tax Department has declared 'No Demand No Return', then it implies that as per the tax calculation of the Department, no refund is due to you. If you insist that a refund of substantial amount is due to you, you may take a copy of your uploaded return from the website and check the matter with the tax consultant of your office (assuming that you are a salaried employee). Thereafter, you have to proceed according the the advice of the tax consultant.
    Caution: Explosive. Handle with care.

  • #141355
    ITR V does not give you immediate refund. And it requires IT department few months. Usually around 5 or more months of time in order for the calculation to be done on their side with the refunds. And if they find no match for the refund on their side to your calculation uploaded, they may not issue the refund.

    If you think this is a mistake, then you can apply for verification of the refunds. And then you may have to re-upload your return statement and also specific how much refund for ITR V is expected in your case. I suggest discussing this with your tax consultant CA. And I am sure they can guide you on proper direction regarding the ITR V refund.

  • #144103
    As per your question it is clear that neither your return is invalid nor status of return if ITR not processed. its means that the department would have issued the notice under section 143. you must check this firstly after checking you can find any error from your side or from department side.

    Because in many cases we filed the return of income and think that it is totally right but in mostly cases we filed wrong returns i.e. some expenses skip out from our mind at the time of entering from the docs to income tax return and when income tax department check it then they caught the same. so it is strongly recommended please check the computation of income which would have been sent by income tax department.

    after checking the same if you think that you are right then go to income tax' site and got helpline number and talk with them or you may also talk with them from e-mail and tell them everything.

    Or if after checking the computation of income which has been sent by department you think you have done any mistake, rectify your return and once again upload it after successful processing of return your refund will be credited in your bank account after a couple of days.


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