Tuesday, August 25, 2015

23 REASONS FOR INCOME TAX REFUND FAILURE


Here are the 23 reasons due to which your income tax refund may be rejected.You should go through this list so that your refund process is smooth and in timely manner.

Now after mandatory e filing of Income tax return for all most all the persons ,(Income more than Rs 500000) .As the procedure is fully dependent on computer and data ,so assessee should take utmost care while inputting the basic data in your Income tax return .Three factor are important for refund of Income tax.

  1. Bank account number
  2. IFSC code of bank branch
  3. Your address for manual issue of refund
However even after so much care ,your refund is rejected and not reached in your account.Then you can request reissue of refund request. The procedure to get reissue of refund is available here.


Sr No
Reason for Refund Failure
Resolution
1
Expired Cheque
Your refund cheque has been expired. You are requested to apply for refund reissue to claim your refund.
2
Incorrect A/C No
The account number provided by you was incorrect. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
3
House Locked
The refund cheque dispatched was returned since the house was locked. You are requested to apply for refund reissue to claim your refund.
4
Party Shifted
The refund cheque dispatched was returned as the concerned party was not available at the address provided. You are requested to apply for refund reissue to claim your refund by updating the new address.
5
No such Address
The refund cheque dispatched was returned as the address provided was incorrect. You are requested to apply for refund reissue to claim your refund by updating the new address.
6
No such person
The refund cheque dispatched was returned as the concerned person was not available at the address provided. You are requested to apply for refund reissue to claim your refund.
7
Incorrect MICR code/unavailable
The MICR code provided by you was incorrect or not provided. You are requested to apply for refund reissue by providing the correct MICR code to claim your refund.
8
Account has been closed
The account number provided by you was closed. You are requested to apply for refund reissue to claim your refund with new account number.
9
Account Description incorrect
The account description provided by you was incorrect. You are requested to apply for refund reissue to claim your refund with correct account description or with new account number.
10
Others
In case the reason for non-issuance, is shown as ‘Other’ please check the below details and respond accordingly.

1.    Address given for dispatch is a foreign address: It is found from our records that you have requested the refund cheque to be dispatched to a foreign address (as mentioned in your return of income).Hence, you are requested to provide a valid Indian address. 

2.    Death of person and account is on hold.

In case of death of an assessee, legal heir can do the following steps:


·     Need to approach to CPC with request and await for CPC
communication in this regard.
·     On receiving the communication, kindly contact your jurisdictional AO along with relevant proof.
·     After verification, if the Jurisdictional AO approves the legal heir claim, refund will be routed to your bank account.
3.    Account is under attachment by court/IT.
4.    Account holder KYC is pending.
5.    Account details given are other than Current Account or Saving
Bank Account.
6.    Minor assessee has attained majority and fresh documentation is pending.

For the above reasons 1, 3, 4, 5, 6 and for any other reason which is not reflected above please contact SBI Call center 18004259760 for further details
11
Mandatory fields missing:(Account
Number/Account Name/Account
Type/Address1/City/State/Pincode)
Mandatory fields like Account Number, Account Name, Account Type, Address line 1, City, Pincode were not provided by you. You are requested to apply for refund reissue to claim your refund by providing the above mentioned mandatory details.
12
Incorrect A/C Number Length
The account number provided by you was incorrect. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
13
Invalid A/C Number
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
14
Invalid A/C Number: Between two special characters there should be atleast one alphabet/number
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
15
Invalid A/C Number: First Character in
A/C No should be an alphabet/number only
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
16
Invalid A/C Number: Last Character in
A/C Number should be a number
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
17
Invalid A/C Number: Numeric string
between alphabets or special characters cannot be all zeros
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
18
Invalid character in A/C Number
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
19
Address not valid: Invalid characters or
too long address
The address provided by you was too long. You are requested to apply for refund reissue by providing the correct address to claim your refund.
20
Invalid character in Account Name or
Name too short
The account name provided by you had invalid character or name too short. You are requested to apply for refund reissue by providing the correct account name to claim your refund.
21
No numeric digit in Account Number
The account number provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
22
Invalid IFSC code
The IFSC code provided by you was invalid. You are requested to apply for refund reissue by providing the correct account number to claim your refund.
23
Name mismatch with Bank account
holder
The account number provided by you had a name mismatch. You are requested to apply for refund reissue by providing the correct account number or name to claim your refund.

No comments:

Post a Comment