Thursday, February 17, 2011

Income Tax Refund FAQ


Centralised Processing Centre of the Income Tax Department here has processed over 26 lakh e-filed returns in Forms 1-4 for the assessment year 2009-10. It has determined refunds in over five lakh cases. A release said refunds are being sent through State Bank of India . The status of these refunds can be checked at CPC's call centre (080-43456700) or at www.tin-nsdl.com.

The department has been informed by the bank that a large number of refund cheques in respect of paper returns for 2008-09 have been returned by the postal authorities owing to change in address or for other similar reasons. Many refunds in ECS mode have not been successfully credited to taxpayers accounts because of incomplete/incorrect MICR and bank account details. Details of these returned intimations are available at www.incometax bangalore-.org. In respect of paper returns of salary ranges of Bangalore for 2008-09 processed at the CPC, taxpayers may contact the PRO, Income-tax Department at Ground Floor, Central Revenue Buildings , Queen's Road, Bangalore .

They may collect the returned intimation and update their details of address/bank accounts/MICR code by writing to CPC, Bangalore at CPC, Post Bag No. 1, Bangalore–560100. In case of updated bank account/MICR code, taxpayers should enclose a copy of a cancelled cheque while giving the details, the release added.

REFUND STATUS

The 'Refund Banker Scheme,' which commenced from 24th Jan 2007, is now operational for Non-corporate taxpayers assessed in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Bhubaneswar, Ahmedabad, Hyderabad, Pune, Patna, Cochin, Trivandrum, Chandigarh, Allahabad, and Kanpur.

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:

i. 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.

ii. 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' .

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

Please enter your Permanent Account Number and Assessment Year for which status of refund is to be tracked at the link given below.

Click to Know Your Income Tax Refund Status

FAQ in respect of Income Tax Refund

Q. From which date the refund banker has been implemented?

A. The refund banker has been implemented from January 24, 2007.

Q. In which cities the refund banker has been implemented?

A. The refund banker facility is operational for non-corporate taxpayers assessed in Delhi , Mumbai, Kolkata, Chennai, Bangalore , Bhubneshwar, Ahmedabad, Hyderabad , Pune, Patna , Cochin , Trivandrum , Chandigarh , Allahabad , and Kanpur .

Q. Who will send the refund to me?

A. The State Bank of India (SBI) is the refund banker to the Income Tax Department (ITD). The Cash Management Product department of SBI (CMP SBI) processes the refunds under the refund banker scheme. Details of refunds are forwarded to CMP SBI by the ITD. CMP SBI processes the refunds and sends the refund intimation to the taxpayer.

Q. How will the refund be sent to me?

A. Refunds are generated in two modes i.e., ECS and paper . If the taxpayer has selected mode of refund as ECS (direct credit in the bank account of the taxpayer) at the time of submission of income return the taxpayer's bank A/c (at least 10 digits ) and MICR code of bank branch and communication address are mandatory .

For taxpayers who have not opted for ECS refund will be disbursed by cheque or demand draft. For generation of refund through paper cheque bank account no, correct address is mandatory.

From May 2008 refund is also effected by National Electronic Fund Transfer (NEFT).

Q. How can I know the status of my refund?

A. The taxpayer can track the status of its refund from the Departmental Website www.incometaxindia.gov.in / NSDL-TIN website www.tin-nsdl.com by clicking on "Status of Tax Refunds".

Refund status can be tracked by entering the PAN and Assessment Year for which refund is to be tracked.

Status of the refund can also be tracked by contacting the help desk of SBI's at toll free number: 18004259760 or email at: – itro@sbi.co.in.

Q. If I have shifted my residence whom should I contact for updating my correspondence address for receipt of refund?

A. The tax payer should contact its Assessing Officer and inform about the change in the correspondence address.

Q. If my bank account has been closed how will I get refund credit into the account?

A. In case of change or updation in the bank account number the taxpayer should provide the correct account number along with the MICR code where credit is to be effected to the Assessing Officer.

Q. Whom do I contact if the refund dispatched has not been received?

A. The tax payer can contact its local post office with the speed post ref no displayed at the NSDL-TIN website

Q. I have received the physical ECS refund advice and status of refund is "paid" on website of refund status track but my account has not been credited. Whom do I contact?

A. In case credit is not effected in the taxpayer account through ECS but the refund advice has been received by the taxpayer AND the status shown is "paid"- in that case, the tax payer should contact his bank or SBI. You should contact SBI at the following address.

Cash Management Product (CMP)

State Bank of India

SBIFAST

31, Mahal Industrial Estate

Off Mahakali Caves Road

Andheri (East)

Mumbai – 400 093.

Phone Number: 18004259760 or email at itro@sbi.co.in

Q. I have neither received the physical ECS refund advice and status of refund is "unpaid" on website track. Whom do I contact?

A. The tax payer should provide the correct account number and MICR code to concerned Assessing officer, where credit is to be effected. The Assessing Officer will inform SBI to send a fresh refund cheque to the taxpayer.

Q. If the date of encashing the refund cheque expires, whom should I contact?

A. The tax payer should contact their Assessing Officer as well as CMP SBI at the below address:

Cash Management Product (CMP)

State Bank of India

SBIFAST

31, Mahal Industrial Estate

Off Mahakali Caves Road

Andheri (East)

Mumbai – 400 093.

Phone Number: 18004259760 or email at itro@sbi.co.in

Q. How do I rectify any mistakes in the name, assessment year, PAN, account number printed on the refund cheque delivered to me?

A. In case of any mistakes on the refund cheque delivered to you, the following should be done:

i) Send the original refund cheque to CMP, State Bank of India at SBIFAST 31, Mahal Industrial Estate, Off Mahakali Caves Road, Andheri East, Mumbai – 400 093, Phone Number: 18004259760, along with a letter informing the mistakes on the refund cheque.

ii) Send a copy of the letter along with a copy of the refund cheque to your Assessing Officer.

iii) Retain a copy of the letter and refund cheque with you.

Q. If somebody else's refund cheque / advice is delivered to me what should I do?

A. You should contact SBI at the following address and return the refund cheque / advice.

Cash Management Product

State Bank of India

SBIFAST

31, Mahal Industrial Estate,

Off Mahakali Caves Road ,

Andheri (East)

Mumbai – 400 093

Phone Number: 18004259760 or email at itro@sbi.co.in

Q. Is there any method available to know whether the refund record has been generated for the taxpayer?

A. The taxpayer can track the status of its refund from the NSDL-TIN website www.tin-nsdl.com by clicking on "Status of Tax Refunds".

Refund status can be tracked by entering the PAN and Assessment Year for which refund is to be tracked.

Status of the refund can also be tracked by contacting the help desk of SBI at 080-26599760.

Q. Whom do I contact for queries related to payment of refund which has been processed by ITD?

A. For any payment related query the taxpayer should contact SBI at 18004259760 or email at itro@sbi.co.in.

Q. Whom should I contact for refund related queries?

A. For any refund related query the tax payer should contact Aaykar Sampark Kendra at 0124 2438000 or email at refunds@incometaxindia.gov.in.

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