Income tax return
The process of filing income tax return (ITR) for assessment year 2025-26 has gained momentum. It is a matter of relief for taxpayers that this time the last date for filing returns has been extended till 15 September 2025. Despite this, more than one crore taxpayers have already filed their returns. Many people feel that by filing the return early, their refund will come to their bank account soon. But is it really so? Come, let us know what are the advantages of filing ITR early, how much time it takes in refund and what is important to take care of.
Many benefits of filing returns early
According to a report by Moneycontrol, there are many benefits of filing ITR before deadline. The biggest advantage is that if your return is perfect and complete, then its processing can be quickly. This means that your refund can also come to your bank account soon. Vibhor Goyal, founder of Fintech firm One Bank, says, “If you file a return in May or June itself and all the details are correct, then there may be a refund process in 2 to 4 weeks. But those who file returns in the last days of the deadline, their processing may take longer.”
According to Chartered Accountant Nayati Shah, the Income Tax Department usually processes returns in the same order in which they are filed. That is, the sooner you file the return, the sooner its processing will start. Also, if there was any mess in the return or a notice from the department, then you will have enough time to answer it.
How many days do you get refund by filing quickly?
The Income Tax Department has increased the use of automation and technology to speed up the refund process. If your return is correct and e-verification is done on time, then on an average, refund can come in your account in 10 to 20 days. In some cases it can also be drawn for 2-4 weeks, especially if the number of returns is more. But if you file a return close to the deadline, then processing can take longer, because at that time the workload on the department increases.
If there is a mistake in returns, there is no benefit of early filing
Filing returns quickly is beneficial only when your details are perfect. Tax expert Vibhor Goyal says, “If there is a mistake in your return, such as you have not included the interest income of Rs 1,200 appearing in Form 26AS in the return, then the Income Tax Department can choose for your return review. This can be delayed by 60-90 days in refund.” Therefore, before filing the return, make Form 26AS, AIS (Annual Information statement) and all the details of your income well.
Refund is available only after e-verification
According to Chartered Accountant Shankar Kumar, the Income Tax Department starts the refund process only after the e-verification of ITR. If you filed a return, but the processing will not start with Aadhaar OTP, Net Banking or Digital Signature. Apart from this, the time for processing of returns can vary for every taxpayer. If no data matches your return, such as the difference in TDS or income information, the department can send notice. In such a situation, the advantage of filing the return early is that you will have enough time to respond to the notice.
What to do to avoid delay in refund?
- File quickly: File returns in May, June or July, so that processing starts early.
- Do e-verification immediately: After filing the return, verify it immediately. For this, use Aadhaar OTP or net banking.
- Check details: Match your income and TDS information from Form 26AS and AIS.
- Keep bank details correct: Make sure the account number and IFSC code are correct.
- Answer the notice: If the Income Tax Department sends a notice, then answer it immediately.
Interest will be available when refund is delayed
If your refund is delayed for more than 30 days, then the Income Tax Department will have to pay interest at the rate of 6% per annum. This interest is received until the refund comes in your account. If you feel that the refund is being delayed unnecessarily, then you can file a complaint in the e-wall system of the Income Tax Department. You can also check your refund position by visiting www.incometax.gov.in. If all efforts fail, then you can file a writ petition in the High Court.