New Delhi: The last date for filing income tax return was 31 July 2024. After filing ITR, now taxpayers are waiting for refund. Let us tell you that the Income Tax Department will also start giving refund. However, not all taxpayers will get this refund.
Let us tell you that if you do not get your ITR verified, you will not get a refund. After filing ITR, it is mandatory to e-verify it. If this is not done, the ITR gets rejected and the refund amount also does not come into the bank account.
Now the question arises that within how many days of filing ITR, e-verification has to be done.
Last Date of E-Verification
According to the income tax rules, the taxpayer has to get the return e-verified within 30 days from the date of filing the ITR. This means that if a taxpayer filed the return on 25th July, then he can get the ITR e-verified by 25th August.
The Income Tax Department had said that e-verification of about 30 lakh ITRs has still not been done.
Will not get a refund
If a taxpayer does not get the ITR e-verified within the deadline, then his ITR will be rejected. This means that the return will not be considered valid. Due to the return being invalid, income tax refund will also not be available.
ITR not filed yet
Many taxpayers have not yet filed their income tax returns. In such a situation, they do not need to panic. They can still file late returns. However, they will have to pay a penalty for filing late returns. Let us tell you that even if you file a late return, you will have to get it verified within 30 days.
In how much time does the refund come
Many taxpayers have a question in their mind that how much time does it take for the tax refund to come. The answer is about one month. Yes, after the return is verified, the process of return is started by the Income Tax Department. How much time you will get the refund depends on which ITR Form you have filled.
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