INCOME TAX26 Sept 2026
Missed ITR deadline and want to claim a refund? What happens if you have an outstanding tax demand | Mint
Missed the income tax return (ITR) deadline? You can still claim a refund if extra tax was paid through TDS (tax deducted at source). File a belated return by December 31 and complete e-verification. But if you have an outstanding tax demand from an earlier year, the department can adjust your AY 2026-27 refund against it, so it may shrink or vanish.
Key Statutory Highlights
- Missing the ITR deadline does not stop you from claiming a refund if excess tax was paid, and a belated return can be filed by December 31 of the relevant assessment year.
- The tax department starts processing a refund only after you file the return and complete e-verification, and it usually takes about four to five weeks for the money to reach your account.
- Where you have an outstanding tax demand from a previous year, the department can adjust your refund for AY 2026-27 against that unpaid demand, reducing or fully absorbing it.
Actionable Advice for Taxpayers / Founders:Check your income tax portal for any unpaid demand from earlier years, and if you are still within the belated window, file your return and complete e-verification. Speak to a tax professional to confirm how much refund you may actually receive.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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