Under sections 237 to 245 of Income Tax (IT) Act, 1961, refund arises only when one has paid a higher amount of tax to the government than the amount which should actually be paid. One can file for income tax refund online from relevant website.
There are certain cases when one is eligible and can go for IT refund. Some of them are stated below:
One can avail refund by filing the return of IT online. Generally, the date of filing IT return is 31st July unless it is extended.
To know the amount of tax one will get refunded, calculation of tax payable associated with the payer needs to be calculated first. If one has paid a higher amount than what it should have been submitted, then the difference amount will be refunded by the department.
The payment is directly transferred to the account of the claimant or sent in the form of cheque.