ITR Filing AY2025-26: How much time will it take for income tax refund if ITR is filed in April? check full details
ITR Filing: Last year in April, the department had issued 7 different ITR forms, so it is expected that this time too the department will make the necessary forms available soon so that the process of filling ITR can start from this month.
ITR Filing AY2025-26: The new financial year has started with the month of April and now the taxpayers want to know when they can file Income Tax Return (ITR) for Assessment Year 2025-26 i.e. Financial Year 2024-25. For this, first of all the Income Tax Department will have to issue ITR forms for this year. In April last year, the department had issued 7 different ITR forms, so it is expected that this time also the department will make the necessary forms available soon so that the process of filling ITR can start from this month.
According to CA Dr Suresh Surana, usually the utility for filling these forms is gradually released from April. But the actual filing starts especially of forms like ITR-1 and ITR-2 when this utility becomes active on the Income Tax portal.
Most salaried people wait for Form 16 issued by their company i.e. employer to file their annual income tax return (ITR), whereas this document is not necessary for filing ITR. Tax payers can also estimate their taxable income and tax liability with the help of many other important documents available with them.
According to Dr Suresh, Form 16 is an important document issued by the company. It contains details of the salary received in the last financial year and the tax deducted on it (TDS). This document helps salaried taxpayers to fill ITR properly and check its information, because it contains complete information about income and TDS deductions in one place.
If you don’t have Form 16, what documents should be used to file ITR?
Although Form 16 makes it easier to file ITR, Surana says that these documents are not necessary. If a salaried person does not have Form 16, he can still file his income tax return, just he should have some important documents, such as monthly salary slip, Form 26AS, Annual Information Statement (AIS), and Taxpayer Information Summary (TIS). He also said that it is very important that taxpayers keep a correct record of their income, exemptions taken under Chapter VI-A, and whatever tax they have paid. This will help in filing the return correctly and it will match the records of the tax department.
When will ITR filing start?
As mentioned in the beginning, the preparation of income tax return forms is going on. But you will not be able to file ITR until the online utility for forms like ITR-1 and ITR-2 is activated on the tax portal. These utilities are often released in the first or second week of April. Till then taxpayers will have to wait a bit.
Will the refund be received within a week?
Now the question is that if a person files ITR in April itself, will he get the refund within 7 days, as the Income Tax Department and the Finance Ministry are claiming? On this, Dr. Suresh explains that the Income Tax Department usually expresses its intention to process the refund soon. He said – But in reality the timing of getting the refund depends on many things like how correct the information given in the return is, whether the details of TDS and income are matching with Form 26AS and AIS or not, how quickly the taxpayers did the e-verification, and whether the return has been selected for further investigation or processing or not.
Also, the taxpayer’s bank account should be pre-validated and it is necessary to be linked to the PAN card. He also said that although many salary class taxpayers can get the refund within a week, the time taken for refund processing may vary in each case. It completely depends on what the situation is in that person’s case.
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