As per Income tax law of India 1961, section 237, “To refund of income tax is the right of assessee, if he paid income tax more than actual payable amount.”
Assessee pays income tax by deducting TDS, advance tax and self-assessment, so, there is the chance of excess payment which an assessee can get within one year after the last day of assessment year. For example, if your assessment year is April 2014 to 31st march 2014, you can get refund up to 31st march 2015.
Now, we are sharing its Steps of getting refund of income tax.
A Step: Normal Way of Refund
If you see that your paid income tax is more than chargeable, you have to file form of claim of refund. For this, you have to apply on form no. 30. When assessing officer gets your application, he will check your claim, if it is valid, he will issue his refund amount. If there will be delay of refund, income tax department will pay interest of 0.5% per month on payable refund.
B Step : Solve the Problem of Refund
If assessee does not get his refund after apply, he or she should check refund status by writing his PAN number and other information in online form.
There may be any mistake from AO, refund banker or assessee. Assessee should aware from such problem. Income tax department has made the FAQ relating to the solution of important problems of refund. Assessee should study and do act as per the solution.
C Step : Use Right to Information Act 2005
If above A and B steps will fail, assessee can get the information of status of refund as per the law of Right to information 2005. India is big country, action on simple application of refund may be ignored, by using RTI Act 2005 may be give fast solution of getting refund from income tax department.