Waiting For Your ITR Refund? Here's What Could Be Holding It Up

Did you file your ITR before July 31 and are still waiting for your refund? Don't worry, you are not alone. Many taxpayers are upset with the delay and took their frustrations to social media sites, where some claimed to be waiting for nearly seven months for an update.

While the number of refund issuances has increased this year, delay for some has left many taxpayers wondering as to why it has happened. In the financial year 2024-25, from April 1 to November 27, the Ministry of Finance said that the increase in income tax refunds was at 46.31 per cent. Several taxpayers, however, continue to remain in limbo due to a lack of valid bank account details.

Bank Account Validation

The Income Tax (I-T) Department has clarified that one major reason for delayed refunds is the lack of validated bank accounts linked to the e-filing portal. The refund cannot be processed if this validation is not done. The department addressed the issue by sharing a step-by-step guide on the social media platform X to help taxpayers validate their bank accounts.

Here's how you can ensure that your bank account is validated:

1. Log in to the Income Tax Department's official e-filing portal at incometax.gov.in

2. Go to "My Profile" and then click on "My Bank Account"

3. Now, click on "Add Bank Account"

4. Fill in the necessary details such as account type (savings or current), account holder type (individual or company), and IFSC code of the branch of the bank

5. Click the "Validate" button at the end to finish

Taxpayer Gripe on Social Media

Different taxpayers have complained to the I-T Department by tagging their handles on social media. One user posted, saying that despite raising the matter multiple times, he has been suffering for more than seven months. And the department replied saying that the matter has been noted and is being brought to resolve.

Another user reported that despite getting his bank account verified, it was showing he wasn't eligible for a refund. He was advised to send a mail to orm@cpc.incometax.gov with his PAN and Mobile number for further action.

As the number of grievances has increased, the I-T Department has put more emphasis on maintaining updated and validated information on the e-filing portal. While the overall increase in refunds reflects improved processing, the delays highlight the need for better communication and resolution mechanisms for taxpayers.

Validating the bank account and remaining active in raising issues with the I-T Department may work as a solution for those who are still waiting.