NSDL Income Tax Refund

National Securities Depository Limited (NSDL) is an online facility provided by the tax department of India that enables the tax payers to claim their refund in case of excess tax payment.

Generally, Higher tax is paid during the financial year by an individual when his advance tax paid is more than their liability. In case you have paid a higher amount of tax to the government of India in the previous financial years then you are eligible to claim for the refund amount.

The tax department will confirm whether you are eligible to claim the refund or not after processing your ITR. If you are eligible to receive the refund amount after verifying with your ITR, you will then receive an intimation via SMS and E-mail. The intimation will be sent to you under section 143(1) of the income tax act. The intimation will display the amount which will be credited your account along with a refund sequence number. Ensure that you have filled the correct bank account details while filing your ITR as the refund amount would then be credited to that account.

However, from this year the government will issue e refunds only to those individuals whose PAN details are linked as well as pre-validated on the e-filling website. The excess amount of tax will be refunded to the individual via online transfer or cheque payment, based on the method opted by the individual while filing the income tax refund.

The status of your income tax refund can be checked on the TIN NSDL website. The refund status would be displayed after 10 days from the date of issue of the refund amount from the bank department i.e., State Bank of India.

Below are the steps to check your NSDL income tax refund amount:

Step 1: Visit the website: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

Step 2: Enter your PAN card details

Step 3: Choose the assessment year for which you want check your refund status

Step 4: Enter the Captcha Code. Based on your status of your refund, a piece of information will be shown on the screen.

Hope this blog us helped you to know about the NSDL income tax refund process. To know more about NSDL, stay connected to us. Thank you for reading.

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