INCOME TAX REFUND

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http://youtube.com/watch?v=r9wUV9jLy7E

In this video, we explain the Income Tax Refund System. When taxpayers pay more tax than their actual liability through TDS (Tax Deducted at Source) or TCS (Tax Collected at Source), they are eligible for a refund. The process involves filing an income tax return using details from Form 16/16A and Form 26AS. The Income Tax Department processes the return and verifies the claims, referencing the Annual Information Statement (AIS) for accuracy. If the return is correct and the excess tax is confirmed, the refund is issued. Taxpayers can track their refund status online through the Income Tax Department’s e-filing portal. To ensure smooth processing, it's important to link your PAN card with your Aadhaar card and your PAN card with your bank account. This system ensures that taxpayers get back the excess amount they have paid, maintaining fairness and accuracy in the taxation process. • Don't forget to like, comment, and subscribe for more informative videos on tax-related topics and guides from Reorient. • #IncomeTaxReturn #ITRFiling #TaxSeason #TaxTips #FinancialPlanning #Reorient #IncomeTax #TaxDeductions #PersonalFinance #TaxFilingMadeEasy #reorient #casumnpoddar #incometaxreturnfiling #incometaxdepartment • #incometaxindia #GSTReturnFiling #gstreturnfiling • #investingstrategy #accountingtips #investingforbeginners • #personalfinancetips #msmeindia #reorient #viralvideo #viralcontents #houserentallowance #HRA #gstreturnfiling #trading #incometax #incometaxrefund #form16 #form16A #26as #AIS

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