Delay in getting Income Tax Refund: CBDT extends timeline for processing old ITRs

Delay in getting Income Tax Refund: CBDT extends timeline for processing old ITRs

A positive news for all those taxpayers who have any pending tax refund dues even though they have filed their ITR on or before the deadline in 2024. The Income Tax Department has announced that these undone ITRs for assessment year 2023-24 or financial year 2022-23 will now be processed by 30 November 2025.

The announcement for the processing of pending ITR could be explained as:

Tax Demand Notice: A tax demand notice could be served to some taxpayers; this depends upon the information that the Tax Department may find out after processing the ITR.

Tax Refund: After the ITRs are processed, taxpayers qualified to obtain due tax refunds will be refunded, with interest if any.

No refund equates to no tax demand: The ITR is processed just the way it is, without any tax refund or tax demand.