Source
Meanwhile, filing an income tax return can give you the amount of tax owed to the government or a potential tax refund from a tax-saving investment.
When will you get income tax refund? When the tax paid by a taxpayer is more than his tax liability, he is entitled to get income tax refund. TDS paid by and on behalf of taxpayers includes TCS as well as taxes paid by the taxpayers themselves – advance tax and self-assessment tax.
7th Pay Commission: Salary arrears deposited in the account? So keep this thing in mind while filing ITR, otherwise there will be trouble
Income tax refund rules
Verify that tax credit appears in Form No. 26AS while filing your ITR to claim refund. Verify details of all tax credits available and also verify all income shown in Annual Information Statement (AIS). It is important to maximize your tax return by taking advantage of all the opportunities available while filing your income tax return.
How can you get more income tax refund?
File ITR on time to further speed up the processing of your income tax refund, choose the right tax regime for you and avoid late filing of ITR to avoid penalties. Verify your return quickly to ensure your return is processed smoothly. Identify all eligible deductions and exemptions. And match your data in Form 16 with it to avoid any discrepancy.
