New Delhi, Sept. 6 -- The income-tax department has reported a record more than 7.8 crore I-T returns (ITR) have been filed for financial year 2025-26 i.e. assessment year 2026-27 (FY26 / AY27) till 31 August. This is higher compared to the 7.3 crore returns filed within deadline last year.

It stated that this figure includes the 5.9 crore ITR-1 and 2 returns filed by 31 July, while the rest include non-audit taxpayers with business or professional income who filed ITR forms 3, 4, 5 or 7 till August end, as per a PTI report.

Notably, I-T refunds are issued when the tax paid exceeds the actual liabilities after deductions. It is processed after ITR e-verification. Today, we explore the timeline for refund from the tax department, the lik...