5 reasons why your Income Tax Refund could get stuck

Income tax refund

Income tax refund is received by the taxpayers when the taxes paid are higher than the actual tax liabilities. Taxpayers file their tax return claiming refund of income tax on account of excessive deduction of tax at source or payment. Many a time such refund gets stuck. Here are 6 reasons why ITR could get stuck.

Incorrect bank account details

There are chances that taxpayer did not give correct bank account number or other bank details while filing the income tax return.

Need for additional documentation

One of the common reasons for not getting refunds is the need for additional documentation.

Inadequate or fabricated information

There are chances that taxpayers have coded inadequate or fabricated information to avail benefit.

Picked wrong ITR form

While filing the ITR, it is crucial to pick the appropriate form. The selection of the correct form depends on the income sources, taxable income and assets owned, among other factors.

Outstanding tax demand

If your tax calculations dont match with the I-T departments, there could be an outstandinf demand. If any refund is done, it could be adjusted against the outstandind demand.