The last date to file Income Tax Return for the Financial Year 2017-18 is 31st August 2018. There are a lot of taxpayers who have advance tax or self-assessment tax and while doing they have paid more tax to the Government of India than their tax liability.
In case the taxpayer has paid more tax to the Government than his/her tax liability, then the taxpayer can claim tax refund while filing Income Tax Return, generally it takes about 30-90 working days to get tax refund. Your Tax Refund will be processed only after your ITR is filed and verified.
Once the ITR filing is complete taxpayers can check their refund status. In case Income Tax Department finds any type discrepancies in your Income Tax Return, it will consider your Income Tax Return as invalid and you will have to file your ITR again in order to get tax refund. If the return filed by the individual stands correct, only then the Income Tax department will initiate the refund process.
Once the Refund process is initiated by the Income Tax Department, the taxpayer will receive an intimation stating the same from the Income Tax Department in the taxpayer’s registered mail Id and mobile number via SMS and Email.
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