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The article reports that most taxpayers have moved to the new income tax regime under Budget 2026, with CBDT confirming uptake and outlining forthcoming forms, FAQs, and guidance to ease transition and ensure compliance.
Thousands of Indian taxpayers are facing delays in income tax refunds for Assessment Year 2025-26 after receiving SMS and email alerts from the Income Tax Department. Refunds have been withheld under the risk management process due to discrepancies in ITR filings, such as mismatches with Form 26AS, AIS, or invalid deduction claims. Taxpayers are urged to review their returns and file revised ITRs
