What is an Income Tax Refund?

"A payment made to the government for exceeding the tax liability" "A credit received for investing in certain financial instruments" "A reimbursement for overpaying income tax" "A bonus for filing taxes early"

How can a taxpayer claim an Income Tax Refund if the deducted tax doesn't match their liability?

"By contacting their employer to adjust the withholding" "By filing an Income Tax Return and providing bank details" "By waiting for the Income Tax Department to automatically issue a refund" "By requesting a reassessment from the Central Board of Direct Taxes"

What should an individual with no taxable income do to avoid excess tax deduction?

"File an Income Tax Return with a zero income declaration" "Submit Form 13 to request a lower TDS certificate" "Ignore the TDS and wait for an automatic refund" "Contact their bank to stop deducting income tax"

What is the time limit for claiming an Income Tax Refund?

"Within 3 months of the end of the assessment year" "Within 6 months of filing the Income Tax Return" "Within 12 months of the end of the assessment year" "Within 24 months of the relevant financial year"

How can a taxpayer check the status of their Income Tax Refund?

"By contacting their bank's customer service" "By visiting the Income Tax Department's office" "Through the Income Tax e-filing website or TIN NSDL website" "By calling the dedicated Income Tax Refund helpline"

What is the interest rate applicable on a delayed Income Tax Refund?

"0.5% per month" "3% per annum" "6% per annum" "12% per annum"