Income Tax Refund: For the past few months, a large number of taxpayers have been worried about the delay in their income tax refunds. People are constantly questioning on social media platforms why refunds haven’t been issued even weeks, even months, after filing.

In many cases, returns are showing as “Under Processing,” some have received “Defective Return” notices, while many taxpayers are simply at a loss for the reason for the delay. This begs the question: why are refunds delayed, and what steps should taxpayers take to receive their refunds on time?

Increasing complaints on social media

Delays in tax refunds have become common in the past few months. Many people have written that they have filed revised returns or are awaiting refunds due to complex entries such as foreign investments, capital gains, or advance tax payments.

Many taxpayers have received their refunds, while others have been waiting for months. Tax experts say that factors such as high CTC, multiple income sources, or investment complexity slow down the refund process.

5 Major Reasons for Refund Delays

• The department conducts additional scrutiny on refunds exceeding ₹1 lakh, which delays processing.
• Returns that include foreign income, capital gains, or multiple income sources must undergo manual verification.
• Refunds that receive a ‘Defective Return’ notice under Section 154 may be withheld until a new ITR is filed.
• Sometimes, government liquidity constraints cause large-scale refund delays.
• If you filed a revised ITR, it takes longer for the system to process the new data.

What types of refunds are processed quickly?

Tax experts say that delays in refunds are due to technical scrutiny as well as administrative reasons. The department, especially for high-value refunds, requires additional verification. If there are any defects in the return, the system blocks it and requires the taxpayer to file a new ITR.

Simple return forms like ITR-1 (Sahaj) are generally processed quickly. However, complex forms like ITR-2 and ITR-3 may experience delays. Therefore, it is important that taxpayers periodically check the status of their returns on the Income Tax e-Filing Portal to determine if there are any pending notices or information from the department.

Other Reasons for Refund Delays

• Refund delays can be caused not only by departmental investigations but also by minor errors made by the taxpayer.
• If you fail to verify your ITR after filing, the return becomes invalid and the refund is not issued.
  If the tax credit shown in the return does not match Form 26AS or Annual Information Statement (AIS), the department may withhold the refund.
• Sometimes, even minor discrepancies in the amounts reported by the bank, employer, or financial institution can stall the refund process.
• In such cases, you should visit the CPC portal to file a grievance and resolve the mismatch.

ITR Filing Deadlines and Rules

The last date for filing ITR for non-audit cases for the financial year 2024-25 (FY25) was September 16, 2025. This date was previously extended twice from July 31. First, to September 15, due to major changes to the ITR form. Then, it was extended by one more day, to September 16, due to technical issues with the portal.

Those who have not yet filed their ITR can file a belated return by December 31, 2025. However, they will be subject to a late fee.

Filing your return before the end of the year is essential to avoid penalties or notices.

What to do if your refund is stuck

• If your refund hasn’t arrived for a long time, there’s no need to panic.
• First, check whether you’ve verified your return.
• Then, match the data in your Form 26AS and AIS with your return.
• If there’s a mismatch, file a grievance on the CPC portal.
• If you’ve filed a revised return, be patient. Its processing time is longer.

Delays in tax refunds are not uncommon. But by being vigilant and providing correct information, you can quickly overcome this problem. Keep your documents updated, regularly check your refund status on the portal, and respond promptly to any notices. This increases your chances of receiving your refund quickly.

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How much money can you keep in the account?

According to the rules, you can keep any amount of money in your savings account. There is no limit for this. You can deposit any amount in the account through cheque. The limit is for depositing cash in the account.

How much cash can you deposit?

The rule says that if you deposit Rs 50,000 or more in cash in the bank, then you will have to provide your PAN number along with it. At the same time, you can deposit up to one lakh rupees in cash in a day. Also, if you do not deposit cash in your account regularly, then this limit can be up to Rs 2.50 lakh. At the same time, you can deposit up to Rs 10 lakh in a financial year. But if you deposit more than this limit in a financial year, then you have to tell the IT department about the source of that income.

This limit is overall for many accounts

If you do not do this, this limit for depositing cash in the account is for a single bank account. If you have this limit for taxpayers, then this limit is overall for one or more accounts.

What will happen if the limit is crossed

If a person deposits more than Rs 10 lakh in cash in a bank account in a financial year, then the bank has to inform the Income Tax Department about it. In such a situation, the person has to tell the source of income. If that person is not able to give satisfactory information about the source of income in the Income Tax Return, then he can come under the radar of the Income Tax Department and an investigation can be conducted against him. If caught, a heavy fine can be imposed.

This does not mean that you cannot do a cash transaction of more than 10 lakhs
However, this does not mean that you cannot do a cash transaction of more than 10 lakhs. If you have proof of this income, then you can deposit cash without any worry. However, from the point of view of benefits, instead of keeping so much money in your savings account, it is better to convert that amount into FD or invest it in some other place, from where you can get better returns.

ITR Filing Deadline : File ITR by 31 July 2025 or else you will have to pay a penalty of Rs 5,000

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The new financial year 2024-25 has started from 1 April 2024. This date is especially important for financial institutions, because if there is any change in the tax system, it comes into effect from this day. Let us know which dates are important from the Income Tax point of view in April (Income Tax Deadline 2024).

Taxpayers should keep these dates of April in mind

7 April

April 7 is the due date for depositing the tax collected or deducted by any government office for the previous month i.e. March 2024. However, the amount collected or deducted will be paid into the government account on the same day the tax is paid without producing the income tax challan.

14 April

April 14 is the last date for issuance of TDS certificate for tax deducted under sections 194-IA, 194-IB, 194M and 194S in the month of February.

15th April

April 15 is the last date for furnishing quarterly statement regarding foreign remittances in Form No. 15CC for the quarter ending March 2024. It is offered by registered dealers.

30 April

• This is the last and very important date. Many things have due date on this day (April due date).
•  This is the last date to submit Form 24G from the government office where TDS/TCS payment for March 2024 has been made without presenting the challan.
• This is the deadline to submit Challan-Cum-Statement in respect of tax deducted under sections 194-IA, 194-IB and 194M in March 2024.
• This is the last date for depositing the tax for March which has been deducted by any assessee other than the government office.
• This is the last date for e-filing of declaration in Form No. 61 containing details of Form No. 60 received during the period October 1, 2023 to March 31, 2024.
• Due date for uploading Form 15G/Form 15H for the quarter January-March 2024

New tax regime will be default

For information, let us tell you that from April 1, 2024, the new tax regime has become the default option in the country. Meaning that if you have not chosen between the new and old tax regime, then your income tax return (ITR file) will be filed under the new regime. Its objective is to bring more people under its ambit by improving the methods of filing returns. It does not provide many deductions and exemptions, but includes low tax rates.

And if you want to pay tax through the old system, then you will have to tell your company about this. Otherwise he will deduct it from your salary as per the new tax regime.

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