Ordinarily it takes about 4 to 5 weeks for the refund to be deposited into your account. If not, then make sure you have checked your emails for any intimation received from the Income Tax Department or a Refund Banker (SBI) that the processing of your income tax refund has failed, you can submit a ‘Refund Reissue Request’ by logging into the Income Tax e-filing portal Taxpayer can raise the service request in e-filing portal through the ‘Refund Reissue Request’ service.
Failure for Income Tax Refund
A refund from the income tax department scheduled to be paid in a particular assessment year (AY) may fail to get credited to your bank account for various reasons. A few of the reasons for the failure of the refund to get credited to your account could be:
In case the bank account is not pre-validated. It is now compulsory to pre-validate your bank account from the assessment year (AY) 2022-23
The name mentioned in the bank account does not match with PAN card details. For example, in case your bank account was opened providing the Aadhaar card as proof, there is a possibility that it mentions your middle name as well, while on the PAN card, such detail is not stated
In case of an invalid IFSC code. For example, a bank might have undergone a merger and there has been a change in the IFSC code, but you have failed to update the same.
There is also a possibility that the account that you have mentioned has been closed
The Account is not linked with PAN or PAN is not linked with Aadhaar.
How to Conduct a Pre-validation Check of Bank Account?
Step 2: Go to ‘My Account’, click the ‘Service Request’ and select the ‘Request Type’ as ‘View Request’ and ‘Request Category’ as ‘Refund Reissue’.
Step 3: Click the ‘Submit’ button. The status of the submitted refund reissue request will be displayed.
Frequently Asked Questions
What happens in case an individual fails to verify the ITR within 30 days of uploading the ITR on the e-filing portal?
In such a case, your return is treated as not filed. All the consequences related to not filing of the ITR under the Income-tax Act, 1961 (ITA) will get applicable. However, you have the option to submit a valid reason and it is possible for you to request condonation of delay in verification. It is after the submission of such a request that you will be able to verify your return. However, the income tax authority needs to approve the condonation request, it is only then the return will be treated as valid.
What can be the reasons for refund failure?
Failure of credit of refund can be due to the following reasons:
Incorrect bank account details (IFSC, account number mismatch).
PAN not linked to the bank account receiving the refund.
Bank account not pre-validated on the e-filing portal.
Joint account issues (if the PAN in the tax return does not match the primary holder of the account).
Refund adjusted against past tax dues under Section 245.
Inactive or closed bank account.
For an ITR refund, is it necessary to mention the bank account details only of an assessee or is it possible to provide a pre-validated bank account number of another person as well?
Yes, it is possible to provide the pre-validated bank account details of another individual. The only condition is that the name mentioned in the bank account details as well as on the PAN card should match exactly.
Can anyone else submit a request for condonation of delay / raise refund reissue request on my behalf?
Authorized signatory / Representative assessee / ERIs can submit requests for condonation of delay / raise a refund reissue request on behalf of the assessee.
Can I raise a refund reissue request if my Bank Account is not pre-validated?
No. You can only proceed if your selected bank Account is pre-validated.
How long does it take for the income tax refund to be credited to the account?
Once the tax return is processed, it will take around Four to Five weeks for the refund.
What if I changed my bank account after filing the return?
If the bank account mentioned in your return is no longer active, update a new account:
Pre-validate the new account in the e-filing portal.
Request a refund reissue using the updated bank account.
Can I modify my refund reissue request after submission?
No, once submitted, a refund reissue request cannot be modified. If you entered incorrect details, you will need to wait for the failure and then reapply.