ITR Processing Time: Why Is Your ITR Still Under Processing In 2024? Here's How To Track Its Status

ITR Processing Time: Over 7 crore Income Tax Returns (ITRs) were filed by the July 31, 2024, deadline. By August 23, the Income Tax Department had processed 5.34 crore of these returns.

ITR Processing Time 2024

ITR Processing Time: The tax season for the Assessment Year 2024-25 is almost closed. Many taxpayers are eagerly awaiting their income tax refunds. However, some taxpayers haven't received their refunds, or their ITR status has been showing as 'under processing' for many days.

Notably, if ITR is not successfully processed, the income tax refund will not be credited to the bank account. It is important to note that over 7 crore Income Tax Returns (ITRs) were filed by the July 31, 2024, deadline. By August 23, the Income Tax Department had processed 5.34 crore of these returns.

Currently, more than 2 crore verified ITRs remain unprocessed. A key factor contributing to this delay is the increase in ‘Defective ITR’ notices issued by the tax department this year.

After filing an ITR, the Income Tax Department takes time to review, verify, and finalize your return. The processing time can vary based on several factors.

Factor 1: ITR 1 and ITR 4 typically take 5 to 10 days, or sometimes even just a few days, to process. The processing is faster if there are no demands or refunds involved. 

Factor 2: If there is a demand or refund, processing ITR 1 and ITR 4 may take additional time. 

Factor 3: ITR 2 and ITR 3 generally take an average of 30 to 45 days to process if they involve lengthy forms. Typically, processing occurs between September and October. 

Generally, the income tax department processed the refunds within 20-45 days after e-verifying your Income Tax Return. If you send the acknowledgement physically ITR-V form, it takes longer. Also, taxpayers may receive a notice after your ITR is processed, as the Income Tax Department issues an intimation under Section 143(1).

How To Track Your ITR Processing Status? 

Step 1: Open the Income Tax Department’s e-filing portal.

Step 2: Log in using your credentials (PAN and password).

Step 3: Navigate to the “e-File” section.

Step 4: Select “Income Tax Returns” and then “View Filed Returns.”

Step 5: Click on “Processing Status” to view the current stage of your ITR.

Hence, the portal will display the current processing stage of your ITR.