Faster Tax Refunds Ahead

The I-T department is gearing up to process refunds sooner Swipe for more>>

Swift Processing Initiated

The income Tax department is all set to reduce the average processing of refunds from 16 days to 10 days

Swift Processing Initiated

Tax refunds of ₹72,215 crore were issued from April 1 to August 21st ₹37,775 crores to companies and ₹34,406 crores to individuals.

Electronic Verification

The I-T department uses electronic verifications and assessments; experts are managing the process anonymously

Refund Acceleration Goals

The I-T department plans to release refunds upon processing, aiming for a 24-hour turnaround

Record ITR  Filing

16.1% more ITRs were filed for AY 2023-24 compared to last year, total ITRs filed till 31st July were more than 6.77 crores