Failing to meet the deadline means you cannot file a new or revised return.
New Delhi: The tax season for the Assessment Year 2024-25 is nearing its end, and taxpayers are keenly anticipating their income tax refunds (ITRs). Understandably so, but there may be some delays in receiving the ITRs due to several factors, including the issue of “defective Income Tax Returns” (ITR).
The deadline for filing ITRs was July 31, 2024, with over 7 crore returns submitted. As of August 23, the Income Tax Department had processed 5.34 crore of these returns, leaving more than 2 crore verified ITRs still unprocessed. A notable cause for this delay is the increased issuance of “Defective ITR” notices by the tax department this year.
What Is A Defective ITR?
A defective Income Tax Return (ITR) is one that has incomplete or inconsistent information in its forms or schedules, or other issues that hinder correct processing. Upon detecting a defect, the Income Tax Department issues a notice under Section 139(9) of the Income Tax Act to the taxpayer’s registered email or through post. This notice is also accessible on the e-filing portal.
What To Do If You Receive Defective ITR Notice?
Upon receiving a defective ITR notice, you have two choices: file a new return or amend the existing one if time permits within the assessment year. Alternatively, you may directly address the notice under Section 139(9). Prompt action is essential; failing to meet the deadline means you cannot file a new or revised return. Consequently, your ITR may be deemed invalid or unfiled for the assessment year 2024-25.
Deadline To Rectify A Defective ITR
When you receive a defective ITR notice, you are given 15 days from the notice’s date to address the issue, which may be specified within the notice. If necessary, you can apply for an extension by requesting an adjournment. It is crucial to understand and resolve defective ITRs quickly to prevent any delays in receiving your tax refund. Regularly checking your registered email and the e-filing portal is important to avoid missing any important communications from the Income Tax Department.
How To Check Your ITR Refund Status?
You can easily track the status of your income tax refund online through the Income Tax Department’s official website.
Follow these steps to check your refund status:
Visit the e-filing website of the Income Tax Department.
Log in using your PAN credentials.
Navigate to the ‘My Account’ section on the homepage.
Click on the “Refund/Demand Status” option.
The status of your income tax refund will be displayed, including details such as the assessment year, current status, any reasons for refund failure, and the payment method.