This discussion addresses the processing of income tax refunds for FY 2019-2020 and AY 2020-2021. While many FY 2019-2020 refunds have been processed, AY 2020-2021 returns are still under review and may experience delays, with expectations for processing by late December or early January. The conversation also touches upon Aadhar-PAN linking with bank accounts and the implications of returns being selected for risk management processes.
Most of the Refunds of AY 2019-20 is already processed and dispatched due to the COVID 19 pandemic so as to increase liquidity in the hands of the taxpayers. But since the due date to file ITR's for AY 2020-21 have been extended ( 31/12/2020 ), so most of the Refunds will be processed after that only.
Sir My Income tax return has been selected under risk management process. I have selected option 1 as I dont see any flaw. However will the refund happen after I selected option 1 or will they further call me for submission of proof? This is the 1st time I have got such mail from the ITR department and my return is 63K. Request you to please share your experience and guide me regarding the same. Thank you!!
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