Getting back your Income Tax Refund can be a little difficult for tax payers.
They often miss out on filing the right return/ filing return on time, so that’s mainly being that tax payers do insist upon paying taxes. Though as per current year’s provision, the last date to file return had been extended till August 31 2015, Undoubtedly it’s advised to file ITR at the earliest to enjoy the privileges of quick income tax refund. I’m sure you heard about this. Here are 8 certain ways which will identical gets eligible for refund, immediately, Therefore if there is any return. The first thing that you should do is file your Income Tax Returns on time.
From the month of June 2015, the Income Tax Department of India has made it mandatory for the citizens to file their return using the online portal. Therefore if you are planning to file your taxes through paper, thence better consider about online e filing and get your refunds honoured from the IT Department. It is mentioned in two forms, namely, Form 26AS and Form 16/16A. You see, That’s a fact, it’s important for a tax payer to ensure that both these figures match with ourselves. Tax Deducted at Source or TDS is an important part of a IT Return. Notice, people who are not using this means will lose the benefit of Income Tax Refund. Also, failure to match the fissure will result into questions and income tax refunds should be delayed unnecessarily.
The most common mistake which is made by the majority of the tax payers is that they won’t be able to file the correct ITR form.
One should know the right ITR form which he must fill, as a tax payer. Generally, tAN is essential for almost any person who is about service tax. If the TAN number is mentioned incorrectly in Form No. On top of this, filing the right return increases your chances of getting your IT refund quickly. So, an awesome method ensure that your TAN no. And therefore the person must consult an expert who shall guide him in the right direction, I’d say in case there arises a doubt or confusion.
All refunds shall be directly credited to the mentioned credit card of the tax payer, as per the notification issued by the Tax Department in June 2015. It becomes important for a tax payer to offer accurate bank information to the IT Department. On top of that, he is liable to take a print out of the ‘ITR V’ and sign identical, when a tax payer has paid his taxes online. Failure to do so will turn your claim for turn into void. He is so required to send a copy of the return to CPC Bangalore within 120 days. Actually, iTRV to CPC Bangalore. Now please pay attention. Wrong account number, wrong name of the account holder, wrong name of the bank, and stuff, will result in delay of IT refund.