Tag: ITR Refund

Income Tax in Media

Income tax return processing and ITR refunds start for AY 2025-26: Here’s how to check status

byAdmin

The ITR filing process is in full swing, with nearly 25 lakh income tax returns already filed and about 23 lakh verified. The most important development is that the Income Tax Department has started processing returns, as reflected on the tax portal, which shows that some ITRs have already been processed for the current assessment year. This means taxpayers with refunds due will start receiving them soon.

Income Tax in Media

No refund if ITR filed post due date in new income tax bill? I-T dept issues this clarification

byAdmin

Will you be eligible for a refund even if you file your ITR (income tax return) late? This concern was raised by many people due to the introduction of new Income Tax Bill 2025 in the Lok Sabha. Many experts have pointed out that the new income tax bill, which is likely to be applicable starting FY2026-27, highlights that if taxpayer does not file their income tax returns before the due date, they will not be eligible to get a refund. Experts are pointing out the same on various social media platforms.