This year, many taxpayers may get their income tax refund delayed. It is being said that the main reason for this is that ITR utilities are being delayed in the release of ITR Utilities on the portal of the Income Tax Department. ITR-2 and ITR-3 utilities ie forms are still not live on the income tax e-filing portal. Delay in release, means delay in the entire refund process for taxpayers who file them. However, no official statement has come yet to delay the release of refunds.
This ITR-2 form is applicable for people who are not eligible for ITR-1 and for Huf i.e. Hindu Undivided Family. Their income, business or profession’s head profits or gains are not there. The ITR-3 form is applicable to a person and HUF, whose income, business or profession head profit or gense. These people should not be eligible to file ITR-1, 2 or 4.
What to say of expert
In AKM Global, partner-tax Sandeep Sehgal says that the delay is mainly due to important structural changes in the forms and the ongoing technical upgrade in the backnd system. The updated data show on the e-filing site is not yet being done on the return processing or refund. It further said that due to delay in release of ITR-2 and ITR-3 utilities and lack of published data, refund processing for the current assessment year may be delayed. Taxman’s Vice President Naveen Wadhwa also believes that any delay in issuing forms means delay in refund payment.
3 government banks of the country reduced home loan interest! Reduced MCLR, EMI will be reduced, loan will be cheaper
This time in these cases, 15 September is the deadline of ITR filing
This time there is no haste for the Income Tax Return (ITR) filing because the deadline for filing returns for non-audit cases has been increased to September 15, 2025. Let us know that this time Taxpayers will put ITR for FY 2024-25 and Assessment Year 2025-26. Taxpayers who have paid more than 110% of the tax made on their top will get interest at the rate of 0.5% month. But those who have paid between 100% and 110% will not get any interest. Keep in mind that the interest received by taxpayers on refund is considered “income from other sources” and it is taxable.
Taxpayer should be ready
Experts recommend that taxpayers monitor the release of ITR-2 and ITR-3 form and file their returns without delay when it is released. E-verification and accurate information on time can save further delay.