ITR Refund Status: With the update of the income tax system in recent years, the processing of tax returns has become much faster. Some people even got a refund within 24 hours of filing income tax.
The Income Tax Department has kept the last date (ITR Deadline) for filing income tax returns for the financial year 2023-24 as July 31. While many people had demanded to extend the deadline. According to the data released by the Ministry of Finance, till July 31, 2024, 7.28 crore ITRs were submitted for the assessment year 2024-25, which is 7.5 percent more than last year.
Interestingly, the taxpayers who filed tax returns (ITR Filing 2024) at the last moment, their ITR refund was processed quickly (Income Tax Return Processing) and money also came into their bank account. At the same time, there are some taxpayers who had filed their income tax returns a long time ago but they have not received their refund yet.
It has been seen that some people got their refund within 24 hours of filing their income tax returns, but some taxpayers have to wait for more than a month. Their money is stuck for more than a month.
Why is there so much delay in getting Income Tax Refund?
If you had filed your income tax return ahead of time, but you have not yet received your income tax refund, then do not worry. Many people are facing this problem. Many of you must be wondering why your return has not been processed despite filing ITR well before the deadline. Why is there so much delay? And how long can it take for the refund to come? Here we will tell you about it in detail….
Money not received yet after filing tax
Generally, the Income Tax Department issues refunds within a certain time, but sometimes there is a delay. If you have filed your tax return on time but have not received your refund yet, then do not worry, there can be a delay due to many reasons. It is important to know the reasons for the delay in getting income tax refund. This will let you know why your refund is stuck and what you should do.
Can your tax refund get stuck due to these reasons?
The form you have filled also makes a difference. Easy forms like ITR-1 or ITR-4 are processed quickly, while ITR-2 or ITR-3 may take some time. If you have asked for a higher refund, then there can also be a delay. The Income Tax Department will check your information carefully. There can also be a problem if you give wrong information. If you have given wrong information in the tax return, the department will ask you to correct it, which will cause a delay.
It has been seen that some people got their refund within 24 hours of filing their income tax returns, but some taxpayers have to wait for more than a month. Their money is stuck for more than a month.
Why is there so much delay in getting Income Tax Refund?
If you had filed your income tax return ahead of time, but you have not yet received your income tax refund, then do not worry. Many people are facing this problem. Many of you must be wondering why your return has not been processed despite filing ITR well before the deadline. Why is there so much delay? And how long can it take for the refund to come? Here we will tell you about it in detail….
Money not received yet after filing tax
Generally, the Income Tax Department issues refunds within a certain time, but sometimes there is a delay. If you have filed your tax return on time but have not received your refund yet, then do not worry, there can be a delay due to many reasons. It is important to know the reasons for the delay in getting income tax refund. This will let you know why your refund is stuck and what you should do.
Can your tax refund get stuck due to these reasons?
The form you have filled also makes a difference. Easy forms like ITR-1 or ITR-4 are processed quickly, while ITR-2 or ITR-3 may take some time. If you have asked for a higher refund, then there can also be a delay. The Income Tax Department will check your information carefully. There can also be a problem if you give wrong information. If you have given wrong information in the tax return, the department will ask you to correct it, which will cause a delay.
