If your old income tax refund is also stuck and you are still waiting for it, then there is a good news for you. Now you will not have to wait any longer for the outstanding refund. The government has given an important update in this regard, according to which the stuck money is going to come to your account soon.
The money will come by this date
CBDT has issued a notice in this regard. An important order has been issued this month. This order, dated March 1, 2024, is for those taxpayers who are waiting for the pending tax refund money for the financial year 2020-21 i.e. assessment year 2021-22. It has been said in the order that the taxpayers will not have to wait any longer. They can get the refund money till April 30, 2024.
Check your email inbox
The Income Tax Department is separately informing those taxpayers who are The outstanding refund is due. If your tax refund is also due, then you too must have received an intimation from the Income Tax Department. For this you can check your email inbox. If the email has not come yet, it will come soon.
Now it does not take much time
Your outstanding income tax refund will be mentioned in the intimation email being sent by the Income Tax Department. All information related to will be there. Generally the Income Tax Department no longer takes much time in issuing refunds. When a taxpayer files his income tax return, he gets the information about processing of ITR within a few days. After the ITR is processed, the taxpayer is told how much refund he is going to get and the refund amount is transferred to the taxpayer's account within a few days.
It gets stuck due to these reasons. Refund
However, sometimes the refund of some taxpayers also gets stuck. There are many reasons for refund getting stuck. Like there is some mistake in the information given by the taxpayer. If you have made a wrong tax refund claim, then in such a situation the refund is not available. Refunds also get stuck if there is any discrepancy in your personal details or banking details. Regarding the cases in which tax refund is due, the department says that the concerned taxpayers had filed the returns on time, but due to some technical problems, their returns could not be processed. Also read: These neighboring countries will get onions from India, export restrictions softened
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