More than 7.6 crore income-tax returns (ITRs) had been filed by September 25. According to the I-T department website, of these, 6.98 crore returns have been verified and 5.35 crore processed, leaving nearly 1.63 crore returns pending, which means refunds in these cases are yet to be issued.
For many taxpayers, especially those expecting big refunds, the delay can feel long. What causes the delay? What are checks involved and what should taxpayers do if they don’t get refund in time?
According to Sujit Bangar, founder, Taxbuddy.com, many people assume refunds would be credited immediately but that’s not how the law works. “There is actually no delay in processing refunds, whether large or small. The income-tax department follows the timelines prescribed under Section 143(1) of the income