ITR 2024: Delayed Income Tax Refunds- Key Steps to Address

As the tax season for AY 2024-25 wraps up, many taxpayers are eagerly awaiting their income tax refunds. Despite processing a large number of returns, the Income Tax Department still has over 2 crore verified returns pending, leading to delays. Of the 7 crore ITRs filed by the July 31 deadline, 5.34 crore were processed by August 23.

Why Your Refund Might Be Delayed

One major reason for the delay in refunds this year is the increase in notices regarding ‘Defective ITRs’ issued by the Income Tax Department.

What is a Defective ITR?

A defective ITR refers to a return that contains errors, inconsistencies, or incomplete information, preventing the tax department from processing it correctly. When such a defect is identified, the department sends a notice to the taxpayer under Section 139(9) of the Income Tax Act. This notice is usually sent via email to the registered address or by post and can also be viewed on the e-filing portal.

Responding to a Defective ITR Notice

If you receive a notice about a defective ITR, you have two options:

  1. File a Fresh Return: If there’s still time within the assessment year, you can choose to file a fresh return.
  2. Revise the Existing Return: Alternatively, you can revise your existing return to correct the errors.

You can also respond directly to the notice under Section 139(9). It’s crucial to address the notice promptly. Failing to do so within the given timeframe may result in your return being considered invalid for the assessment year 2024-25.

Deadline for Rectifying a Defective ITR

Upon receiving a defective ITR notice, you have 15 days from the date of the notice to rectify the issue. The specific deadline is usually mentioned in the notice. If necessary, you can request an extension by seeking an adjournment.

Addressing defective ITRs promptly is essential to avoid further delays in your tax refund. Regularly check your registered email and the e-filing portal to ensure you don’t miss any important notices from the Income Tax Department.

How to Check Your ITR Refund Status

You can easily track the status of your income tax refund online through the Income Tax Department’s official website. Follow these steps:

  1. Visit the e-filing website of the Income Tax Department.
  2. Log in using your PAN credentials.
  3. Navigate to the ‘My Account’ section on the homepage.
  4. Click on the “Refund/Demand Status” option.

Here, you can view the status of your income tax refund, including details such as the assessment year, current status, any reasons for refund failure, and the payment method.

By staying informed and responding promptly to any notices, you can ensure a smoother and quicker process for receiving your income tax refund.

Related Post

image

Review of TDS/TCS Amendments in Budget 2025

Review of TDS/TCS Amendments in Budget 2025 Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions are integral to the tax system, ensuring tax collection at the source of…
image

Income Tax Update: ITR-U Filing Deadline Extended to 48 Months

Income Tax Update: ITR-U Filing Deadline Extended to 48 Months The Indian government has extended the deadline for filing updated income tax returns (ITR-U) from 24 months to 48 months. This change,…
image

Union Budget 2025: Key Tax, GST & MSME Updates Explained

Union Budget 2025: Key Tax, GST & MSME Updates Explained The Union Budget 2025 introduces significant updates impacting income tax, GST, and MSMEs, aiming to simplify compliance, boost economic activity, and ease…

Book A One To One Consultation Now
For FREE

How can we help? *