An income tax is a tax imposed on the individuals that vary with the income or profits of the taxpayer. Many jurisdictions refer to income tax on business entities as company’s tax or corporate tax. Partnerships generally are not taxed; rather, the partners are taxed on their share of partnership items. Both country and subdivisions have to pay tax.
The tax rate may increase as taxable income increases. Whereas taxation rates may vary by type or characteristics of the taxpayer. Capital gains may be taxed at different rates than other income. Credits of various sorts may be allowed that reduce tax. Some jurisdictions impose the higher of an income tax or a tax on an alternative base or measure of income.
Checking your income tax refund status by PAN number is easy and hassle free online process. A few speedy clicks at the income tax site will let you know the status of your ITR. The status checking facility is also extended through offline modes like phone calls and SMS. Income tax return should be filed on the annual basis by a person or a firm. A refund repaid by income tax department against taxes paid in excess is known as income tax refund.
The need of income tax return arises when the tax paid or deducted exceeds the actually payable tax for that year. Salaried people pay income tax through tax deducted at source. In a case of excess deductions, TDS refund is filed. It takes few months’ time to receive the refund of income tax and TDS. After a week from the date of e-filing, you can start tracking your income tax refund status. The entire procedure of e-filing of ITR return is online. The online procedure of tracking ITR status is the most convenient and time-saving way.
How to check the status online?
Follow the step by step instructions given below to check the status of your income tax return online.
- Begin by clicking on the link given https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
- A new page will be displayed.
- Type in your PAN number. Make sure you know your PAN number beforehand.
- Select the year of assessment for which you wish to check the income tax return status.
- Click on the ‘submit’ button as the final step to see the status on your screen. The status message will indicate if the refund check is dispatched or not.
How to check status through call or email?
If you do not have proper access to the internet or a computer then you can check the status through a phone call and email also.