Hi Friends......need help in reference to IT Refund. In case refund is processed and forwarded by the department to SBI for credit to the respective assessee via NEFT/ ECS but the same has got stuck with SBI (not yet credited). Is there a way to follow up with or have an update from the SBI? What is required from the assessee's side? Or it is a wait and watch game?
Thanks in anticipation !!!
If the Tax Refund is not credited by the Bank via NEFT/RTGS within 3 working days than there is nothing to wait and watch the game. Just be in touch with IT Dept and get the Transaction ID as for every NEFT/RTGS transaction a Transaction ID has been issued by the Payer's Bank which helps to track the status/error of the transaction. If you wait for more time than it may be possible that the refund amount will be credited back to the IT Dept A/c and you have to again make some efforts to get them back.
After you got the transaction ID you can get the status of it from the Payer Bank.
I have gotten the ECS reference number but the banker (SBI) seems to have no clue about this.
CAclubindia
