BANKING AFFAIRS

Detailed explanation-1: -Refund Expired-The refund cheque issued by the Income-tax department is valid for a period of 90 days. If it expires, then you will have to get a refund cheque re-issued in your name.

Detailed explanation-2: -After you have filed your IT returns and verified the same, income tax refund time taken is usually 20-45 days after ITR has been processed. If it takes longer, you should follow up with the Centralised Processing Centre (CPC).

Detailed explanation-3: -According to tax experts, this could be due to several reasons: the income tax department could be handling a large number of returns, hence the delay, or you might not have linked your nominated bank with Aadhar, or you have not nominated the right bank where the money could be transferred, besides other reasons.

Detailed explanation-4: -Now, if for some reason you have not received the refund amount, then you can raise a refund reissue request. The refund re-issue request can be raised on the new income tax portal provided there is a failure of credit of refund by the income tax department after the processing of the income tax return.

Detailed explanation-5: -When the status displays ‘processed with refund due’, it means that the tax return has been processed and the tax refund will likely be issued to you within 20 to 45 days after the ITR processing date.