New Delhi, July 28 -- Have you successfully submitted and e-filed your income tax returns (ITRs)? Or are you hoping for a last-minute extension of the 31 July deadline? In case you haven't filed your returns, this is the best time to file your ITR.

Several taxpayers who have already filed their ITRs for Assessment Year (AY) 2026-27 are now awaiting their refunds. The provision for income tax refunds was introduced to refund an individual taxpayer when the tax they paid exceeds their actual tax liability for a given financial year.

The refund process may take longer than expected if there are errors, omissions or pending compliance steps that were not properly followed.

Refunds are generally credited after the return is successfully pro...