Refund not received despite filing ITR? Know the reasons why your money may get stuck

The Income Tax Department has kept the last date (ITR Deadline) for filing income tax returns for the financial year 2023-24 as 31 July. While many people had demanded to extend the deadline. According to the data released by the Finance Ministry, till July 31, 2024, 7.28 crore ITRs were submitted for the assessment year 2024-25, which is 7.5 percent more than last year. Interestingly, the ITR refund of those taxpayers who filed tax returns (ITR Filing 2024) at the last moment was processed quickly (Income Tax Return Processing) and money also came into their bank account. At the same time, there are some taxpayers who had filed tax returns (Income Tax Return Filing) long ago, but they have not received the refund yet. It has been seen that some people got their refund within 24 hours of filing their income tax returns, but some taxpayers have to wait for more than a month. Their money is stuck for more than a month.

Why is there so much delay in getting Income Tax Refund?

If you had filed your income tax return before time, but you have not received your income tax refund yet, then do not worry. Many people are facing this problem. Many of you must be wondering why your return has not been processed despite filing ITR well before the deadline. Why is there so much delay? And how long can it take for the refund to come? Here we will tell you about it in detail….

Money not received yet after filing tax

Generally, the Income Tax Department issues refunds within a certain time, but sometimes there is a delay. If you have filed your tax return on time but have not received your refund yet, then do not worry, there can be a delay due to many reasons. It is important to know the reasons for the delay in getting income tax refund. This will let you know why your refund is stuck and what you should do.

Can your tax refund get stuck due to these reasons?

The form you have filled also makes a difference. Easy forms like ITR-1 or ITR-4 are processed quickly, while ITR-2 or ITR-3 may take some time. If you have asked for a higher refund, then there can also be a delay. The Income Tax Department will check your information carefully. Giving wrong information can also cause problems. If you have given wrong information in the tax return, the department will ask you to correct it, which will cause a delay.

• Wrong bank account information: If the bank account number, IFSC code, micro code or account holder’s name is wrong, then the refund can be delayed.
• Non-verification of bank account: If you have not verified your bank account on the e-filing portal beforehand, then the refund may be delayed.
• KYC not complete: If your KYC is not complete then you will not get a refund.
• Wrong account type: If you have filled the account number incorrectly, then there may be a problem in the refund.

How long does it take to get a refund after receiving the ITR processed message?

With the update of the income tax system in recent years, the processing of tax returns (ITR Processing) has become much faster. Many people who have filed their income tax returns and whose ITR has been processed by the department are now waiting for their refund. You too might be wondering how long it will take for the refund to come.

Let us tell you that in most cases, it takes 2 to 3 days to get the tax refund after receiving the message of “ITR Processed” from the Income Tax Department via email and SMS.

The Income Tax Department says that if the refund is not received during this period, then taxpayers should check their ITR intimation messages. Apart from this, one should keep checking the email to know about any notification sent by the IT department regarding ITR refund.