Tuesday, November 20, 2012

'Refund Banker Scheme' - Check your Income Tax Refund status through online.

   The Income Tax Department has already  introduced the provision to know the status of Income Tax Refund through online. As shown in the official website of TIN-NSDL you can verify the status of refund for the assessment year 2003-04 to 2013-14. Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker - by entering 'PAN' and 'Assessment Year' in the prescribed place of the webpage. The details are given for recollecting the information...

Tax Information Network of
Income Tax Department

REFUND STATUS

Refund Banker

   The 'Refund Banker Scheme,' which commenced from 24th Jan 2007, is now operational for taxpayers assessed all over India (except at Large Taxpayer Units) and for returns processed at CPC (Centralized Processing Centre) of the Income Tax Department at Bangalore.

   In the 'Refund Banker Scheme' the refunds generated on processing of Income tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day  of processing for further distribution to taxpayers.

Refunds are being sent in following two modes:

   RTGS / NECS : To enable credit of refund directly to the bank account, Taxpayer.s Bank A/c (at least 10 digits), MICR code of bank branch and correct communication address is mandatory.

   Paper Cheque : Bank Account No, Correct address is mandatory. Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker - by entering 'PAN' and 'Assessment Year' below.

Other Refunds

   Status of 'paid' refund, being paid other than through 'Refund Banker,' can also be viewed at www.tin-nsdl.com by entering the 'PAN' and 'Assessment Year' below.

   'Refund paid' status is also  being reflected in the 'Tax  Credit Statements' in Form 26AS.

Check your status here....

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