ITR New Update: If you are a taxpayer, this news could be very important for you. Taxpayers have to file income tax returns every year. Two things particularly trouble taxpayers: the frequent extension of the ITR filing deadline and the long time it takes to receive refunds. Ahead of Budget 2026, tax experts are now demanding a permanent solution to both these problems, aiming to make the tax process more transparent, reliable, and easier.
As the Union Budget 2026 approaches, discussions on income tax reforms have intensified. The annual extension of the July 31st deadline not only confuses people but also puts additional pressure on taxpayers at the last minute. Experts believe that if a fixed and permanent date is set, this problem can be largely eliminated.
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Why is a fixed ITR deadline necessary
According to tax experts, repeated deadline extensions lead taxpayers to take timely filing lightly. If the government permanently sets the ITR filing deadline to August 31st, it will help people plan their taxes. This will give salaried employees, freelancers, and small business owners sufficient time to file their returns, leading to better compliance. It will also reduce problems like slow servers or technical difficulties in the last few days.
Questions raised about delays in refunds
The question of when the refund will be received after filing the ITR is on almost every taxpayer’s mind. Considering this concern, Deloitte India has given an important suggestion for Budget 2026-27. The company suggests that a real-time refund tracking system should be introduced on the income tax portal, allowing taxpayers to track the status at every stage.
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According to Deloitte’s proposal, there should be a separate dashboard on the Central Board of Direct Taxes (CBDT) portal where the refund status is clearly displayed. This should include all stages, such as processing, approval, transfer to the bank, and credit to the account, along with the estimated time for each stage. Additionally, an easy option to file a complaint in case of refund delays should be available.
What Taxpayers Expect from Budget 2026
Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2026. This will be her ninth consecutive budget. Taxpayers expect the government to take concrete steps this time on issues such as the fixed deadline for filing ITRs and making the refund process faster and more transparent. This will not only strengthen the tax system but also increase public trust.