How many days does it take to get an ITR ?

Filing your income tax return (ITR) is a crucial financial responsibility that many individuals and businesses undertake each year. One common question that arises during tax season is, "How long does it take to get your ITR?" In this blog, we will discuss the factors that influence the processing time and provide insights into the average duration for receiving your ITR.

1. Factors Affecting ITR Processing Time: Several factors can influence the processing time of your income tax return. Here are some key aspects to consider: Filing Method: The method you choose to file your ITR can impact the processing time. E-filing typically results in faster processing compared to physical filing. Accuracy of Information: Filling out your ITR form accurately with all the necessary information reduces the chances of processing delays or rejection. Type of ITR Form: The complexity of your financial situation determines the ITR form you need to file. Different forms may require varying processing times. Income Sources: If you have income from multiple sources or investments, it may take longer to verify and process your return.
2. Taxpayers are required to decode the ITR intimation. Following are three possible scenarios that the taxpayer may need to understand: Refund determined: If the return filed by the taxpayer is found to be accurate and has a refund claim, the refund will be issued to them. Typically, the refund process takes around 20-45 days after e-verification of the income tax return. However, if the acknowledgement has been sent physically to the CPC, it may take longer. Demand determined: This means additional tax is payable. The tax department sends a demand intimation if there are any discrepancies in the taxes paid or credits claimed. The taxpayer is required to pay the demand within the specified time mentioned in the intimation under section 143(1). No demand-No refund: When the department approves the information given by the taxpayer, the intimation will be 'No demand No refund.' This indicates that the taxpayer does not owe any taxes or interest, and there is no refund owed to the taxpayer.

In conclusion, the time it takes to receive your ITR can vary based on several factors. On average, it may take 20-45 days to complete the processing and receive your refund. By adhering to accurate filing practices and following the tips mentioned, you can help streamline the ITR processing timeline.