How do you ensure that you got the correct income tax refund ? Now a days, most of us go for e-filing of taxes and forgets about it. Very few will check their bank transaction statement to see their tax refunds.
Income tax department in India does ACH(Automated Clearing House) to refund the amount to your bank account. Refund issue for FY 2015 - 2016 (AY 2016 - 2017) is started and you can check your bank transaction details to check the credit amount.
How to identify tax refund transaction in your bank statement:
Tax refund credit transaction will be in the format -
" ACH/(PAN No.)-AY2016-17/*************"
Income tax department in India does ACH(Automated Clearing House) to refund the amount to your bank account. Refund issue for FY 2015 - 2016 (AY 2016 - 2017) is started and you can check your bank transaction details to check the credit amount.
How to identify tax refund transaction in your bank statement:
Tax refund credit transaction will be in the format -
" ACH/(PAN No.)-AY2016-17/*************"
