Tax Refund: The Income Tax Department has shown incredible speed in processing refunds this year, even setting new benchmarks by handling them in just a few hours. However, a significant number of taxpayers are still waiting for their refunds. Many are looking forward to refunds exceeding Rs 1 lakh.
According to current tax regulations, the department has a mandatory nine-month timeframe (from the last date for filing returns) to process any return. So, they still have time to review and finalize these outstanding returns. This delay has understandably raised concerns among taxpayers who are waiting for their money. But this doesn’t imply that the department is intentionally holding up your income tax refund.
Officials says that refunds are being processed as swiftly as possible. The department is only doing this where verification is necessary, following the proper procedures. Taxpayers who haven’t received their refunds or are facing issues should double-check the bank account details provided for the refund.
Income Tax Data: In many instances, it has been found that the bank account number entered is incorrect, doesn’t match bank records, or the account itself is inactive. Therefore, it’s crucial to make sure that all information is accurate and current when filing returns.
Speaking of the current income tax collection figures for this year, the net collection as of November 10, 2025, reached Rs 12.92 lakh crore, which is a 7 percent increase compared to November 10, 2024.
On the flip side, refunds have dropped significantly by 17.72 percent during the same timeframe. Last year, the tax department issued refunds totaling Rs 2.94 lakh crore, while this year it’s down to Rs 2.42 lakh crore. As of November 10, 2025, there are 135.5 million individual users registered on the Income Tax Portal. So far, 80.9 million returns have been submitted for the assessment year 2025-26. Out of these, 77.7 million have been verified. From the verified returns, 67.9 million have been successfully processed by the department, showcasing the current scale and speed of return processing.
Yogendra Kapoor, a senior chartered accountant, mentioned, “There are still about 13 million returns for the assessment year 2025-26 that are pending processing. Even among my clients, many are still waiting for their refunds. A significant issue is that numerous taxpayers are expecting refunds exceeding Rs 1 lakh. Because of this delay, they are missing out on the interest that would have accumulated on the funds held by the department. Additionally, interest is only paid after the return has been processed. I think the department might carry out further scrutiny for the greater good of the nation.”