Overview
- The Income Tax Department has emailed and messaged taxpayers to correct discrepancies and file revised returns for AY 2025–26 by December 31, with no extension announced so far.
- Missing the cutoff can delay refunds and increase scrutiny, and once CPC issues adjustments after the date, taxpayers must use rectification or appeal because a revised return is no longer allowed.
- A valid, e‑verified return that is unprocessed by December 31 remains in force and can be processed later under section 143(1), with experts noting a nine‑month window and refund interest for delays.
- Officials highlight common triggers for refund holds, including AIS/26AS mismatches, overstated deductions (80C, 80D, HRA, LTA), undisclosed income, and bank issues such as non‑validated accounts or wrong IFSC codes.
- CBDT outreach reports over 21 lakh updated returns filed with more than Rs 2,500 crore in extra tax paid and about 15 lakh revised returns this year, while belated filings attract Section 234F fees and may forfeit loss carry‑forwards.