ET surveyed taxpayers about their endless wait for the government to return their excess tax that has been deducted and found 57 percent of the respondents said that they faced this problem. Tax Experts on ET says, “The excess tax is like an interest-free loan to the government because you are entitled to the interest only after you file your return.”

“The government pays only 6 percent interest but charges 12 percent for late payment. With proper tax planning, a taxpayer should not have any refund at all,” says Sudhir Kaushik, Co-founder and CFO of TaxSpanner.com, as quoted by ET.

On behalf of ET, Taxspanner has inspected and put forward the following reasons for the refund delay.

1. Mismatch in TDS Data

If the mentioned TDS (Tax Deduction source) details in your form do not match the data with the I-T Department, then don’t expect your refund. So verify the TDS details before submitting the form online.