The process of filing the Income Tax Return (ITR) of FY 2024-25 will start soon. The last date to file ITR is 31 July. For such taxpayers whose audit audit is not necessary, it is necessary to file returns by the last date of July. After this, on filing the return, an interest on penalty and tax will have to be given. Tax experts recommend not waiting for the last date to file returns. This time, despite filing returns before the deadline, the refund may be delayed. Let’s know about this in detail.
Refund comes soon on filing ITR before deadline
Income Tax Department (Income tax deparment) After the ITR is filed inside the deadline, it starts processing the return. ITR Refund is issued when there is no missing of any kind. Then in a few weeks this money is credited to the savings bank account of taxpayers. Generally, the processing of returns of taxpayers who file ITR first is also first. This gives them the money of refund soon. This entire process is absolutely simple.
Income tax department has sent email to taxpayers
According to the Economic Times report, some taxpayers have received the income tax department’s email. It has been told that since the assessment or reaction of their tax returns has not been done, their tax refund amount will be stopped until the tax officer examines it properly. Email also states that if any earlier tax arrears are found, it will be adjusted with the refund amount of taxpayers.
Taxpayers should check their email properly
This email has been sent on March 11, 2025 by the Deputy Director of Income Tax. This means that people who have been sent this email may take more time to get refunds. It may also be that their refunds come down or no refund. Taxpayers should check their email properly. Experts say that if no taxpayers have received such an email, then it means that his returns are not required again. It will not be late for the refund of such taxpayers.
Also read: Old or New Tax Reseam? Where will more tax be saved! These points will come to work while filing ITR by 31 July
Income tax department will use section 245
The Income Tax Department has also said that if the refund amount of a taxpayers is adjusted after the assessment, then the department will use Section 245 (2) of the Income Tax Act, 1961 for this. This section gives the Income Tax Department the right to adjust the tax refund of the taxpayer’s current year with tax demand for earlier years. The special thing is that in cases related to section 245, there is no limit of time for adjustment.