New Delhi, Dec. 23 -- Several taxpayers who filed their income tax returns (ITR) in September for the Assessment Year 2025-26 are still waiting for their refunds to be credited.

An income tax refund refers to the amount returned by the income tax department if the tax paid by an individual exceeds their actual tax liability. this excess payment may arise due to Tax Deducted at Source (TDS). Tax Collected at Source (TCS), advance tax, or self-assessment tax.

The final tax liability is determined by the department after factoring in all the applicable deductions and exemptions at the time of assessment, following which the excess amount paid is issued as a refund by income tax department.

The processing of refund by the tax department be...