Income Tax Refund Time Period The Namibia Revenue Agency herewith provides an update on the ongoing Mass Tax Refund exercise that commenced in December 2023 highlighting the positive strides made and the impact on taxpayers as captured below
If there are no discrepancies and everything is in order refunds can be processed within a few weeks to months after filing The due date for submitting ITR for the Assessment Year 2024 25 is July 31 2024 To claim any eligible tax refunds ensure timely filing When you submit your tax return the following may delay your refund from being paid if a refund is due When your banking details have been identified for verification the process can take up to 21 business days from the date
Income Tax Refund Time Period
Income Tax Refund Time Period
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It may take 10 to 30 days or even longer on case to case basis However it is a fact that early filers usually get their refunds early if they have correctly filed their returns you are up to date with all your past return filings no inspection verification or audit is required or has been initiated there is no pending administrative issue with SARS i e they have record of your latest bank details Taxpayers have been known to receive their refunds within 72 hours however let s hold thumbs Documents for Review
Due Date The tax return is due after the tax year has past The deadline will depend on whether the entity is a company an individual or other type of entity A Company s deadline will be 2 months after the company s financial year end while an individual s deadline will be the end of tax season Use our simple calculator to work out how big your tax refund will be when you submit your return to SARS Start looking forward to your refund
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E Filing of Income Tax Return or Forms and other value added services Intimation Rectification Refund and other Income Tax Processing Related Queries Usually it takes 4 5 weeks for the refund to be credited to the account of the taxpayer However if refund is not received during this duration the taxpayer must check for intimation regarding discrepancies in ITR check email for any notification from the IT department regarding the refund
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The Namibia Revenue Agency herewith provides an update on the ongoing Mass Tax Refund exercise that commenced in December 2023 highlighting the positive strides made and the impact on taxpayers as captured below
https://www.caclubindia.com/guide/itr-refund-time
If there are no discrepancies and everything is in order refunds can be processed within a few weeks to months after filing The due date for submitting ITR for the Assessment Year 2024 25 is July 31 2024 To claim any eligible tax refunds ensure timely filing
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