Excess amount refunded from IT

I am a salaried individual and i filed tax return before deadline with refund of 17k then refiled again before deadline with refund of 8k.
Now I received refund of 17k from IT department.
Anything to do now ?

@Quicko

Did you revise return? What is the status of the revised return ?

ITR excess refund received.

1 Like

E-verified before the deadline.
Currently showing revised amount in IT portal, but amount received is higher.

Thanks :pray:

Hey @gpgane,

In this case, there are two options, either you can pay back the excess refund received in challan no. 280 or you can wait for IT Department to process the revised ITR. Once the revised ITR is processed, you will receive a demand notice in response to which you can make the payment and submit response as to notice as well.

Hope this helps!

@Quicko , a relative had filled two ITRs. In the original one, the bank account for refund was wrong, so filled a revised one (both before 31st July). Today, they received the intimation for the original informing that the refund is processed but failed because of wrong bank account. So, should a refund request be placed for this one or we should wait for the revised return to be processed?

Yup, that I understand, my query is different. What to do if a revised return has also been filled with the correct bank account?

If you’ve e-verified revised return then do nothing. The original refund would fail anyway as the a/c no is wrong. Once the revised returm is processed, you’ll get refund in your correct account.
If you haven’t e-verified, don’t do it. It will be treated as non filing of return. Instead of e-verification update your bank account and rause refund reissue request.

Hello @SachinSingh,

As @ANKIT_T has correctly mentioned, if your revised ITR is e-verified then that shall be taken up for processing and once it’s processed from ITD’s end refund shall be credited to the updated bank account. If you don’t wish to wait until the revised ITR gets processed then you can place a request for refund re-issue by providing the updated bank details and then after the revised ITR is processed, no refund shall be credited.

Hope this helps!

1 Like

@gpgane

You will receive a tax demand, once your revised return is processed and hence you can pay the excess amount of refund received against the same.
No action is required till then.

Received the demand for tax amount and paid the same, but in ITR portal still that’s not updated and interest also occured for due on demand.
Do I need to pay the interest ? When will that update.
@ANKIT_T

I think you need to pay interest.
@Quicko and @Jason_Castelino can guide you better

But demand notice raised on 22.08.2022 and i paid on 23.8.2022. further the paid amount not reflecting ITR portal.

Yes. I believe you paid only tax amount and not the interest. So yes. Now you need to pay the interest amount as well.
Usually it gets reflected within 2 days of you accepting the demand notice. Further you can track the status of your response using transaction ID.
But to tell you what exactly has happened in your case, it wouldn’t be possible for me without having access to your portal.
Best is to get in touch with the customer care executive. They are really helpful.

Hi @gpgane,

As rightly said by @Jason_Castelino, there is a possibility that you have paid only the tax amount and not the interest. So, now you are required to pay the interest amount as well.

However, why it not getting reflected in your IT portal account, remains a question. Hence it is advisable to raise a grievance on the Income Tax portal and get a resolution from their end.

Here’s how you can Submit Track and View Income Tax Grievance on the e-Filing Portal - Learn by Quicko
Hope this helps.

2 Likes

Is interest calculated (monthly 1%) from raise of demand notice or start of FY ?

(I paid tax on the very next day of raise of demand)