Quick Summary
The Central Board of Direct Taxes (CBDT) has recently issued a significant order dated March 01, 2024, concerning the processing of income tax returns filed electronically with refund claims under section 143(1) of the Income-tax Act, 1961. The order addresses the challenges faced by taxpayers in receiving timely refunds, particularly in cases not subjected to scrutiny. Official copy of the order has been mentioned below F. No. 22S/132/2023/ITA-II Government of India Ministry of Finance
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FAQ :
The CBDT has allowed the processing of e-filed income tax returns with refund claims, even if the processing deadline has passed, for the 2021-22 assessment year.
Taxpayers who filed their income tax returns electronically for AY 2021-22 and are due a refund, particularly in cases where the delay in processing was not attributable to them.
The intimation of such processing under sub-section (1) of section 143 of the Act can be sent to the assessee concerned by April 30, 2024.
Yes, this relaxation does not apply to returns selected for scrutiny, returns where a demand is payable or likely to arise, or returns where the delay is attributable to the assessee.
The CBDT is exercising its powers under section 119 of the Income-tax Act, 1961, to relax the prescribed time-frames.
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