Quick Summary
The recently introduced Income Tax Bill, 2025, in the Lok Sabha has sparked concerns among taxpayers regarding their eligibility for income tax refunds if they file their Income Tax Return (ITR) after the due date. Several experts have pointed out that Clause 263(1)(a)(ix) of the new tax bill mandates that returns must be filed within the due date to claim refunds, a significant shift from the current provisions under the Income Tax Act, 1961. What Does the New Income Tax Bill Say About Refun
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FAQ :
Yes, the Income Tax Department has clarified that refund provisions remain unchanged. You can still claim refunds even if you file your Income Tax Return (ITR) after the due date.
Initial interpretations of Clause 263(1)(a)(ix) of the Income Tax Bill, 2025, suggested that returns must be filed within the due date to claim refunds, a change from current laws.
Refunds will continue to be processed under Section 270 and granted under Section 271(1)(e) of the proposed Income Tax Bill, 2025.
If you miss the December 31 deadline, you may still be able to request a refund through a condonation application under Section 119(2)(b) by submitting a physical application with valid reasons for the delay.
Relief may still be available for refunds claimed in an invalid return under Section 239, similar to Section 119 of the existing law.
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