Sir, I have files IT Return forF.Y. 2023-2024 on 18th June, 2023 but till today I have received my IT Refund of Rs. 40000/-. How long it would take to get IT Refund.
Ans: Dear Sanjay,
I understand your concern about the delay in receiving your Income Tax refund. Generally, the Income Tax Department processes refunds within 20-45 days after the Income Tax Return (ITR) has been processed. However, the exact time can vary and it may take up to 90 days or even longer in some cases.
If you have not received your refund within this period, I would recommend you to check the status of your refund online. You can do this by visiting the official website of the Income Tax Department. If the status shows as 'Refund Paid', but you have not received it, there might be an issue with the bank details you have provided. In such a case, you should contact your bank or the Income Tax Department for further assistance.
Please note that the processing time can also depend on the accuracy of the details provided in the ITR and the time of the year you have filed the return. The sooner you file your ITR, the earlier you are likely to receive your refund.
Best Regards.