WHAT IF IT REFUND CHEQUE LOST IN TRANSIT ?

When cheque is lost

What if the refund cheque is lost during the transit? "In such case, the taxpayer should fill an indemnity bond on a stamp paper Rs.100 and clearly mention that the refund cheque is lost. He should provide all the details like name, PAN, address, assessment year etc. He should submit it to his assessing officer along with the copy of the acknowledgement of the tax return filed. What if one doesn't receive his tax refund within a reasonable time, which is normally within a maximum of one year from the date of filing the tax return? The taxpayer can visit the office of the income tax department in order to have follow up of the refund. He can write to the concerned Income Tax Assessing Officer with a copy of the acknowledgement of tax return filed. But as they all say, caution is always better. Tax expert Navin Garg says, "One can easily avoid such problems while filing the return. The taxpayer should mention the particulars of the bank account, PAN, Residential Address and name correctly while filing the return to avoid further consequences."   

Dealing with the problem

• If the bank account has turned dormant, the refund would be credited to his account. But the taxpayer would have to request the bank authorities to activate the bank account once again.
• If the bank account is closed, the taxpayer should write regarding this to the concerned Income Tax Assessing Officer with new account number and a copy of acknowledgement of tax return filed.
• If the refund cheque expires, the taxpayer should contact his jurisdictional Assessing Officer to return the cheque. The officer may change the date mentioned on the cheque or he may issue a new cheque. 
• If the taxpayer has shifted his residence, he should contact its Assessing Officer and inform about the change in the correspondence address.
• If the cheque of refund is dispatched by the department and has not been received by the taxpayer, he should contact its local post office with the speed post reference number displayed at the NSDL-TIN website.
• In case of any mistakes on the refund cheque delivered, one should submit a letter along with a copy of the refund cheque to Assessing Officer.
•  If the refund cheque is lost during the transit, the taxpayer should fill an indemnity bond on a stamp paper Rs.100 and clearly mention that the refund cheque is lost.  

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