2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs.5 lakh
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Rs.1 lakh
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Rs.3 lakh
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Rs.2.5 lakh
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Detailed explanation-1: -All pending income tax refunds up to Rs 5 lakh will be issued immediately to individuals and business entities. The Income Tax Department, on its official Twitter handle, announced that it will issue all pending income tax refunds up to Rs 5 lakh immediately to individuals and business entities.
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: -Logon to ‘e-Filing’ Portal https://www.incometax.gov.in/iec/foportal/ Go to the ‘My Account’ > Click ‘Service Request’ > Select the ‘Request Type’ as ‘View Request’ and Select the ‘Request Category’ as ‘Refund Reissue’ Click ‘Submit’
Detailed explanation-4: -Assuming no issues, IRS issues tax refunds in less than 21 calendar days after IRS receives the tax return. IRS has an on-line tool, “Where’s My Tax Refund", at www.irs.gov that will provide the status of a tax refund using the taxpayer’s SSN, filing status, and refund amount.