Whenever you pay Income Tax Returns then you are eagerly awaiting your refund. Obvious this wait could get quite painful for everyone. The “Refund Banker Scheme”, which commenced from 24th Jan 2007, is now operational for taxpayers assessed all over India (except at Large Taxpayer Units) and for returns processed at CPC (Centralized Processing Centre) of the Income Tax Department at Bangalore.
Here are the steps, for checking Income Tax Re-fund
- Log in to the NSDL website
- Enter your Permanent Account Number (PAN) in the available box and enter Your year know about Tax refund
Income Tax Refunds can be sent in two modes:
1. RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer.s Bank A/c (at least 10 digits), MICR code of bank branch and correct communication address is mandatory.
2. Paper Cheque: Bank Account No, Correct address is mandatory.
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker – by entering ‘PAN’ and ‘Assessment Year’ below.
Refund status can be checked only if you have received an acknowledgement from the IT department of having received the ITR form.