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News18
a day ago
- News18
ITR Filed At 5pm, Refund Received At 9pm: What Took 90 Days Once Is Taking Just 4 Hours Now!
Last Updated: ITR FY2025-26: According to the Income Tax Department's website, refunds usually take around 4-5 weeks, but the actual turnaround time is now often much shorter The process of receiving income tax refunds has become significantly quicker in the country. Previously, it could take over 90 days for taxpayers to receive their refunds. Now, many are reporting that refunds are being credited within just a few hours of filing their Income Tax Returns (ITR). The Income Tax Department has set September 15 as the last date for filing returns for the assessment year 2025-26. Refunds Issued Within Hours According to a report by Financial Express, Arun Prakash, a media professional from Noida, shared that he filed his return using the ITR-1 form at 5:03 pm and received the refund in his bank account by 9:02 pm the same evening. He even shared screenshots of the filing confirmation and refund credit to support his claim. This marks a significant shift from previous years when refunds often took several months to process. The Income Tax Department's improved digital infrastructure has drastically reduced this waiting time. Experts Highlight Same-Day Refunds Previously, refunds typically took almost 90 days. According to the department's website, refunds usually take around 4-5 weeks, but the actual turnaround time is now often much shorter. From 93 Days to 10 Days Finance Minister Nirmala Sitharaman informed Parliament last year that the average refund time in 2013-14 was 93 days. By 2023-24, it had come down to just 10 days. This improvement not only offers relief to taxpayers but also reflects the government's push towards digital governance and transparency. The accelerated refund process is made possible by a fully digital tax system. The department now uses the faster JSON format instead of the older Excel-based filing. Once a return is e-verified, refund processing begins immediately. Verified bank accounts and PAN-Aadhaar linking help ensure that refunds are credited securely and accurately. The system also cross-verifies data provided in returns with third-party sources like the Annual Information Statement (AIS) and Form 26AS. If discrepancies or inflated refund claims are detected, the process may be delayed. Tips for Taxpayers If a taxpayer has pending dues or assessments from previous years, their refund may be withheld. To ensure a smooth process, taxpayers are advised to: This new level of efficiency in refund processing is a welcome move and a clear indicator of the digital strides taken by the Income Tax Department. First Published: July 30, 2025, 13:38 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hans India
a day ago
- Hans India
Google introduces AI Skill Academy
Tech giant Google said that it has launched the Google News Initiative (GNI) AI Skills Academy, in collaboration with the Indian Institute of Mass Communication (IIMC) here. According to the company, the new initiative is aimed at equipping Indian newsrooms with the knowledge and tools they need to thrive in an AI-powered future. 'Continuing our commitment to collaborate with news organisations across India and bring them Google's best-in-class technology, we're excited to announce the launch of the Google News Initiative AI Skills Academy in collaboration with the Indian Institute of Mass Communication (IIMC), Department of New Media,' the tech giant said in a statement. This will be a 10-week, hybrid training series, which is designed to equip newsrooms and media educators with foundational AI understanding and practical skills. Participants will learn to leverage Google's AI tools like NotebookLM, Gemini, AI Studio and Pinpoint to streamline workflows, boost efficiency, and free up valuable time for deeper and more creative research and in-depth, diverse storytelling. Launched by Google in an academic partnership with IIMC and with training support from How India Lives, this hybrid programme will empower participants to apply AI tools across a range of relevant use-cases. The programme will offer weekly deep dives, practical exercises, dedicated mentoring, and problem-solving sessions. This programme has been curated to provide participants with support to leverage AI to perform newsroom tasks more efficiently. 'We're also proud to support IIMC in training media educators and students across its campuses in six cities in India,' Google stated. This collaboration is a major step towards empowering media professionals and media educators with essential AI skills. 'As AI transforms journalism, this initiative will help them stay ahead. We intend to promote responsible innovation and enhance creativity in storytelling. IIMC is happy to be part of this initiative that will also help train students across our six campuses', said Nimish Rustagi, Registrar, Indian Institute of Mass Communication.
News18
2 days ago
- News18
Income Tax Return: Will Sep 15 Deadline For ITR Filing Extend Further? What Expert Says
Last Updated: ITR Filing Last Date: The ITR filing deadline for FY2024-25 is now September 15, 2025, due to delays in Excel-utility forms. ITR Filing Last Date: The ITR filing deadline for FY2024-25 (Assessment year 2025-26) has been extended to September 15, 2025, from July 31, 2025, giving taxpayers time to complete their tax duties without any hustle and avoid the last-minute rush. The deadline was extended due to a delay in releasing the Excel-utility forms for ITR-1,2,3 & 4 forms, citing several changes in the reporting process of these forms, system upgrades, and technical preparation. The tax department released the tax utility for ITR-2 and ITR-3 a few weeks ago. Despite the extension, only 50 days remained to file the ITR for FY2024-25. Taxpayers must finish the filing process and verification before the deadline in order to avoid any untoward penalty. The tax department hasn't yet released the Excel-based utilities for ITR-5, 6, and 7 forms. Moreover, the online utility of the ITR-3 form isn't available yet. According to the Financial Express report, experts believe that the department may extend the deadline further for this reason. Still, one question among the taxpayers persists – will the deadline extend further from September 15? view comments First Published: July 29, 2025, 10:21 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
