NEW DELHI: Over six of the practically seven crore revenue tax returns (ITRs) filed for monetary 12 months 2022-23 have been processed, with slightly below 2.5 crore refunds already issued, the finance ministry mentioned on Tuesday. There are round 12 lakh verified ITRs the place the division has sought additional clarification.
“The division’s efforts to offer seamless and expeditious taxpayer companies are being repeatedly strengthened. Consistent with the identical, common processing time of ITRs (after verification) has been lowered to 10 days for returns filed for AY 2023-24 (FY23) in comparison with 82 days for AY 2019-20 and 16 days for AY 2022-23,” an official assertion mentioned.
It mentioned that 6.84 crore returns had been verified as much as September 5, and because of this, the 14 lakh remaining returns haven’t been processed. It has urged taxpayers to finish the verification course of. The tax division mentioned there are a number of circumstances the place returns have been processed and refunds have additionally been decided however the course of cannot be accomplished as taxpayers are but to validate their financial institution accounts.
“The division’s efforts to offer seamless and expeditious taxpayer companies are being repeatedly strengthened. Consistent with the identical, common processing time of ITRs (after verification) has been lowered to 10 days for returns filed for AY 2023-24 (FY23) in comparison with 82 days for AY 2019-20 and 16 days for AY 2022-23,” an official assertion mentioned.
It mentioned that 6.84 crore returns had been verified as much as September 5, and because of this, the 14 lakh remaining returns haven’t been processed. It has urged taxpayers to finish the verification course of. The tax division mentioned there are a number of circumstances the place returns have been processed and refunds have additionally been decided however the course of cannot be accomplished as taxpayers are but to validate their financial institution accounts.
