SHORT ANSWER:
Income tax refunds may fail due to incorrect bank details or discrepancies in the tax return.
DETAILS:
- Incorrect bank account information provided by the taxpayer.
- Mismatch between the income reported and the income verified by the tax department.
- Failure to e-verify the income tax return.
- Outstanding dues or pending assessments against the taxpayer.
PUNISHMENT / IMPLICATIONS (if applicable):
- Delays in receiving the refund until discrepancies are resolved.
SOURCE:
- Income Tax Act, 1961
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