Quick Summary
The Income Tax Department has urged taxpayers to address any outstanding tax demands for previous years in order to facilitate faster clearance of refunds for the 2022-23 fiscal year. This is a taxpayer-friendly measure, as it gives taxpayers an opportunity to clarify the status of any outstanding demands and ensure that they receive their refunds as quickly as possible. On Saturday, in a post of X, the department was quoted saying The Income Tax Department is making every effort to comple
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FAQ :
Addressing past tax demands will help facilitate the speedier clearance of your refunds for the 2022-23 fiscal year.
The department is making every effort to process Income Tax Returns and issue refunds expeditiously, with a focus on speedy processing and quick issue of refunds.
For Assessment Year 2023-24, 7.09 crore returns have been filed, with 6.46 crore processed, including 2.75 crore refund returns.
If you have an outstanding demand, the department will intimate you, providing an opportunity to make a representation before adjusting your refund against the demand.
You are requested to respond to such intimations to enable the reconciliation of pending demands and facilitate the timely issue of your refunds.
This is a taxpayer-friendly measure providing an opportunity to clarify outstanding demands in line with principles of natural justice, to help clean up pending demands and speed up refunds.
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