Income Tax Refund Delays: Late Forms, Strict Scrutiny, Data Mismatches

• Income tax refunds are delayed this year due to the late release of ITR forms and utilities, leading to a high volume of filings.
• Stricter data matching by the IT Department means mismatches in AIS, TIS, or Form 26AS can trigger scrutiny and delay refunds.
• High-value refund claims or unusual entries are undergoing increased verification, often requiring additional documentation.
• Recent changes in capital gain reporting, foreign assets disclosure, and TDS/TCS reconciliation also contributed to the late release of ITR forms.
• Taxpayers should ensure bank accounts are pre-validated, choose the correct ITR form, and meticulously match data from AIS, TIS, and Form 26AS before filing to avoid delays.

Why It Matters: Understand why your income tax refund is delayed this year.