ITR Refund Delay: This One Mistake Could Hold Up Your Income Tax Refund

New Income Tax Act

Even though the new Income Tax Act, 2025, came into effect on April 1, 2026, the current ITR filing is for income earned between April 1, 2025, and March 31, 2026. This means all calculations and procedures for this assessment year follow the old Income Tax Act, 1961. The rules of the new act will fully apply to the ITR you file next year for income earned in the 2026-27 financial year. So, taxpayers should remember that the old rules apply for this year’s filing.