Refund awaited meaning

Though the last date of filing income tax returns (ITR) for the assessment year 2021-22 has been extended till December 2021, a lot of salaried individuals are already done with the process. Some of these individuals, who paid more tax than their actual liability, may be now waiting for their tax refund. The request for a refund is placed at the time of filing ITR. Once the income tax department processes your ITR and confirms it, the taxpayers eligible for a refund receive an intimation and the amount is credited to their accounts. However, sometimes there is a delay in crediting of the account. If you are among those who have already filed your ITR for the financial year 2020-21 and are now waiting for the refund, here’s what could have caused the delay or non-payment. When Do Refunds Get Delayed? If you have not received a refund, it could be due to one of the following reasons. Firstly, your refund may not have been processed yet, but then you can track the status easily. Secondly, you may not be eligible for a refund at all. There’s always the possibility of a calculation gone wrong. Or, you may simply have forgotten to include an income from an investment or saving that the department may have taken into account via Form 26AS. Thirdly, the income tax department may have processed your return and determined a refund, but it may not have reached you yet. This could be because you gave the wrong address (in case you asked for the refund through a cheque) or the wrong ba...

Recent Examples on the Web Beneath the bed was a live bomb, awaiting its next victim. — Steve Chawkins, Los Angeles Times, 10 June 2023 Novel Physical Phenomenon Might there be riches untold awaiting anyone who successfully cracks the nature of UAP? — Leonard David, Scientific American, 9 June 2023 Shane Corcoran made 15 saves as the Blue Knights await their semifinal opponent, either Dover-Sherborn or Nantucket. — Nate Weitzer, BostonGlobe.com, 9 June 2023 Another complicating factor is that there are 19,000 non-useable F-35 parts taking up shelf space that have either been used up or become obsolete while awaiting paperwork authorizing their disposal or repurposing. — Sébastien Roblin, Popular Mechanics, 8 June 2023 Ledbetter threw a career-high six innings and preserved most of Arkansas’ arms for the uphill challenge that awaits. — Matt Jones, Arkansas Online, 5 June 2023 Senate Bill 284, which establishes a Dam Safety Program for the State of Alabama is currently awaiting a signature from Gov. Kay Ivey after receiving approval from the House and the Senate Thursday morning. — Heather Gann | [email protected], al, 5 June 2023 The deal made its way through the House and then the Senate, and now awaits Biden's signature. — Justin Klawans, The Week, 3 June 2023 Beyond the resort, adventure awaits: The ecologically rich area is home to a variety of wildlife, as well as national parks, trails, caves, volcanoes, and waterfalls that invite exploration. — Robb Report Studio, Robb Re...

You may have received an e-mail informing that you are eligible for an Income Tax Refund and it will be credited to your bank account by the Income Tax Department. But why did you receive the refund? How can you claim it? And above all, what is an income tax refund? Let’s find answers to all these questions in this article. Table of Contents : • • • • • • • • • • • • • • What is Income Tax Refund Income tax refund is a process by which the Income Tax Department returns any excess tax paid by a taxpayer during a particular financial year (FY). This happens when the amount of tax paid by a taxpayer is more than his/her actual tax liability for that particular FY. The excess tax can be claimed as an income tax refund under Section 237 of the Income Tax Act, 1961. The amount of income tax refund claimed by a taxpayer by filing ITR is subject to verification by the Income Tax Department. Get FREE Credit Report from Multiple Credit Bureaus When Can one Claim an Income Tax Refund The following are key instances when an Income Tax Refund can be claimed: • You did not furnish all the investment proofs to your organization. As a result, the amount of taxes deducted by your employer exceeded your actual tax liability for the particular FY. • Excess TDS was deducted on your interest income from bank FDs or bonds. • The advance tax paid by you on self-assessment exceeded your tax liability for the applicable FY as per the regular assessment. • In case of double taxation, for example – ...

We have been regularly getting our IGST refund when exported against payment of taxes. But, the last refund has been stuck, scroll generated. No errors, but rejected by PFMS. There has not been any change in our bank details. Does anybody have a clue why it is has been rejected by PFMS, when customs & GST dept has already cleared the refund without any error code??? Thanks Dear Sir, Thanks for your response. We verify rejected related Shipping billS in ICEGATE -"IGST Validation Details Enquiry" No error code mentioned and response code is SB000 (Successful). Then we checked in IGST scroll Sanctioned status "At PFMS" shown as "REJECTED". At the time of GSTR-1 we properly uploaded correct Inv. number, date, SB No & SB date. For Example: S No. Shipping Bill No. Shipping Bill Date IGST Scroll Number IGST Scroll Date Scroll Amount At PFMS At PAO 1 1234567 2019-06-14 17412/2019 2019-08-01 87945 Rejected Response Awaited Thanks, We have been regularly getting our IGST refund when exported against payment of taxes. But, the last refund has been stuck, scroll generated. No errors, but rejected by PFMS. There has not been any change in our bank details. Does anybody have a clue why it is has been rejected by PFMS, when customs & GST dept has already cleared the refund without any error code??? Thanks We are also in same boat, our IGST validated with SB000 code, scroll generated on 30.11.2019 and today it shows as PFMS rejected, is there anyway to know why it is rejected by PFMS, it ...

You may have received an e-mail informing that you are eligible for an Income Tax Refund and it will be credited to your bank account by the Income Tax Department. But why did you receive the refund? How can you claim it? And above all, what is an income tax refund? Let’s find answers to all these questions in this article. Table of Contents : • • • • • • • • • • • • • • What is Income Tax Refund Income tax refund is a process by which the Income Tax Department returns any excess tax paid by a taxpayer during a particular financial year (FY). This happens when the amount of tax paid by a taxpayer is more than his/her actual tax liability for that particular FY. The excess tax can be claimed as an income tax refund under Section 237 of the Income Tax Act, 1961. The amount of income tax refund claimed by a taxpayer by filing ITR is subject to verification by the Income Tax Department. Get FREE Credit Report from Multiple Credit Bureaus When Can one Claim an Income Tax Refund The following are key instances when an Income Tax Refund can be claimed: • You did not furnish all the investment proofs to your organization. As a result, the amount of taxes deducted by your employer exceeded your actual tax liability for the particular FY. • Excess TDS was deducted on your interest income from bank FDs or bonds. • The advance tax paid by you on self-assessment exceeded your tax liability for the applicable FY as per the regular assessment. • In case of double taxation, for example – ...

We have been regularly getting our IGST refund when exported against payment of taxes. But, the last refund has been stuck, scroll generated. No errors, but rejected by PFMS. There has not been any change in our bank details. Does anybody have a clue why it is has been rejected by PFMS, when customs & GST dept has already cleared the refund without any error code??? Thanks Dear Sir, Thanks for your response. We verify rejected related Shipping billS in ICEGATE -"IGST Validation Details Enquiry" No error code mentioned and response code is SB000 (Successful). Then we checked in IGST scroll Sanctioned status "At PFMS" shown as "REJECTED". At the time of GSTR-1 we properly uploaded correct Inv. number, date, SB No & SB date. For Example: S No. Shipping Bill No. Shipping Bill Date IGST Scroll Number IGST Scroll Date Scroll Amount At PFMS At PAO 1 1234567 2019-06-14 17412/2019 2019-08-01 87945 Rejected Response Awaited Thanks, We have been regularly getting our IGST refund when exported against payment of taxes. But, the last refund has been stuck, scroll generated. No errors, but rejected by PFMS. There has not been any change in our bank details. Does anybody have a clue why it is has been rejected by PFMS, when customs & GST dept has already cleared the refund without any error code??? Thanks We are also in same boat, our IGST validated with SB000 code, scroll generated on 30.11.2019 and today it shows as PFMS rejected, is there anyway to know why it is rejected by PFMS, it ...

Recent Examples on the Web Beneath the bed was a live bomb, awaiting its next victim. — Steve Chawkins, Los Angeles Times, 10 June 2023 Novel Physical Phenomenon Might there be riches untold awaiting anyone who successfully cracks the nature of UAP? — Leonard David, Scientific American, 9 June 2023 Shane Corcoran made 15 saves as the Blue Knights await their semifinal opponent, either Dover-Sherborn or Nantucket. — Nate Weitzer, BostonGlobe.com, 9 June 2023 Another complicating factor is that there are 19,000 non-useable F-35 parts taking up shelf space that have either been used up or become obsolete while awaiting paperwork authorizing their disposal or repurposing. — Sébastien Roblin, Popular Mechanics, 8 June 2023 Ledbetter threw a career-high six innings and preserved most of Arkansas’ arms for the uphill challenge that awaits. — Matt Jones, Arkansas Online, 5 June 2023 Senate Bill 284, which establishes a Dam Safety Program for the State of Alabama is currently awaiting a signature from Gov. Kay Ivey after receiving approval from the House and the Senate Thursday morning. — Heather Gann | [email protected], al, 5 June 2023 The deal made its way through the House and then the Senate, and now awaits Biden's signature. — Justin Klawans, The Week, 3 June 2023 Beyond the resort, adventure awaits: The ecologically rich area is home to a variety of wildlife, as well as national parks, trails, caves, volcanoes, and waterfalls that invite exploration. — Robb Report Studio, Robb Re...

Though the last date of filing income tax returns (ITR) for the assessment year 2021-22 has been extended till December 2021, a lot of salaried individuals are already done with the process. Some of these individuals, who paid more tax than their actual liability, may be now waiting for their tax refund. The request for a refund is placed at the time of filing ITR. Once the income tax department processes your ITR and confirms it, the taxpayers eligible for a refund receive an intimation and the amount is credited to their accounts. However, sometimes there is a delay in crediting of the account. If you are among those who have already filed your ITR for the financial year 2020-21 and are now waiting for the refund, here’s what could have caused the delay or non-payment. When Do Refunds Get Delayed? If you have not received a refund, it could be due to one of the following reasons. Firstly, your refund may not have been processed yet, but then you can track the status easily. Secondly, you may not be eligible for a refund at all. There’s always the possibility of a calculation gone wrong. Or, you may simply have forgotten to include an income from an investment or saving that the department may have taken into account via Form 26AS. Thirdly, the income tax department may have processed your return and determined a refund, but it may not have reached you yet. This could be because you gave the wrong address (in case you asked for the refund through a cheque) or the wrong ba...

Recent Examples on the Web Beneath the bed was a live bomb, awaiting its next victim. — Steve Chawkins, Los Angeles Times, 10 June 2023 Novel Physical Phenomenon Might there be riches untold awaiting anyone who successfully cracks the nature of UAP? — Leonard David, Scientific American, 9 June 2023 Shane Corcoran made 15 saves as the Blue Knights await their semifinal opponent, either Dover-Sherborn or Nantucket. — Nate Weitzer, BostonGlobe.com, 9 June 2023 Another complicating factor is that there are 19,000 non-useable F-35 parts taking up shelf space that have either been used up or become obsolete while awaiting paperwork authorizing their disposal or repurposing. — Sébastien Roblin, Popular Mechanics, 8 June 2023 Ledbetter threw a career-high six innings and preserved most of Arkansas’ arms for the uphill challenge that awaits. — Matt Jones, Arkansas Online, 5 June 2023 Senate Bill 284, which establishes a Dam Safety Program for the State of Alabama is currently awaiting a signature from Gov. Kay Ivey after receiving approval from the House and the Senate Thursday morning. — Heather Gann | [email protected], al, 5 June 2023 The deal made its way through the House and then the Senate, and now awaits Biden's signature. — Justin Klawans, The Week, 3 June 2023 Beyond the resort, adventure awaits: The ecologically rich area is home to a variety of wildlife, as well as national parks, trails, caves, volcanoes, and waterfalls that invite exploration. — Robb Report Studio, Robb Re...

You may have received an e-mail informing that you are eligible for an Income Tax Refund and it will be credited to your bank account by the Income Tax Department. But why did you receive the refund? How can you claim it? And above all, what is an income tax refund? Let’s find answers to all these questions in this article. Table of Contents : • • • • • • • • • • • • • • What is Income Tax Refund Income tax refund is a process by which the Income Tax Department returns any excess tax paid by a taxpayer during a particular financial year (FY). This happens when the amount of tax paid by a taxpayer is more than his/her actual tax liability for that particular FY. The excess tax can be claimed as an income tax refund under Section 237 of the Income Tax Act, 1961. The amount of income tax refund claimed by a taxpayer by filing ITR is subject to verification by the Income Tax Department. Get FREE Credit Report from Multiple Credit Bureaus When Can one Claim an Income Tax Refund The following are key instances when an Income Tax Refund can be claimed: • You did not furnish all the investment proofs to your organization. As a result, the amount of taxes deducted by your employer exceeded your actual tax liability for the particular FY. • Excess TDS was deducted on your interest income from bank FDs or bonds. • The advance tax paid by you on self-assessment exceeded your tax liability for the applicable FY as per the regular assessment. • In case of double taxation, for example – ...